I often have a habit of keeping tangible copies of my expenses at the end of the day as a way to reflect how much I have spent. For example, I often use public transit a lot to save money and yesterday I placed the transit tickets on my desk at the end of the day. While it isn’t straight cash, knowing that each ticket was $2.75 made me wonder if I could have used alternative methods of transportation to save more money. Example, could I have adjusted my schedule to simply walk instead? Or was there a way to get the tickets cheaper?
There actually was a way I could have got it cheaper which was to simply buy a booklet of it. But due to time I simply paid the basic rate at the terminal. I think an end day reminder of your spending is a habit one should naturally develop. We often do it for things like skills we are building for our careers or personal growth yet finances don’t seem to be given the same treatment.
I kind of feel that whenever people think of money management they automatically assume it has to be using items such as complicated accounting software or spreadsheets that just feel like boring work. Simple reflections like this at the end of the day is almost like walking where you are doing a little every day that translates to a lot in the end. It just makes you naturally more aware of your finances and how to improve.