Most of us are surprised by where our money goes. The fix is simple: write it down for one week. No judgement, just facts.
This article is the reading companion to the free Mondosol lesson Money Matters: Track a Week of Spending, part of the Money course. Read it, watch the videos, or press play and listen first, then practise in the lesson.
Free: create your free Mondosol account to practise this lesson and track your progress.
In this article
Why track your spending
You cannot change what you cannot see. A week of notes shows small purchases that add up, like snacks, drinks and subscriptions, and it shows which spending you are happy with.
Set up your tracker
Choose the tool that is easiest for you.
- A small notebook in your bag.
- The notes app on your phone.
- A simple spreadsheet.
- Your banking app, if it sorts spending into categories.
The best tool is the one you will actually open every day.
What to write down
| Column | Example |
|---|---|
| Date | Tuesday |
| What | Lunch at the café |
| Category | Food |
| Amount | 7.50 euros |
| Need or want | Want |
Write every purchase, even small ones, as soon as you can. Count cash and card. Fixed bills like rent can go in too.
Review at the end of the week
- Add up the total and the total for each category.
- Mark what was a need and what was a want. The article on needs vs. wants can help.
- Find one purchase you are happy with and one you would skip next time.
- Pick one small change for next week.
Make it a habit
Tracking works best when it is short and regular. Two minutes each evening is enough. After a week or two, you can move on to a full plan with one of the budgeting methods.
Watch and learn
Two videos show easy ways to record your spending.
Video: “3 easy ways to track expenses for beginners” by Frugal Creative Living, on YouTube.
Video: “Easy budget and expense tracker with Google Sheets” by Jeremy’s Tutorials, on YouTube.
Take it further
Reading is a good start. These options help you go from knowing to doing.
All courses, live coaching sessions and members-only events, with a 30-day money-back guarantee. See the plans
A live session on Google Meet to turn this topic into your own plan. Book a session
Frequently asked questions
Why should I track my spending for a week?
It shows where your money really goes, which is the first step to making a plan.
What should I count as spending?
Everything you pay for, including small purchases, cash, card and online. Fixed bills can be added too.
Do I need an app?
No. A notebook or a notes app works well. Choose what you will use every day.
What if I forget to write something down?
Check your bank or receipts at the end of the day and add it then. Do not give up because of one missed item.
What do I do after the week?
Look for one change you can make, then try a budgeting method that fits you.
Keep learning
- Course: Money
- Lesson (practise it): Money Matters: Track a Week of Spending
- Read next: Budgeting Methods and Smart Shopping
- Related: Money and Emotions
Educational, not financial advice. The example numbers are invented, and this post contains no affiliate links. Mondosol is not a licensed financial adviser.
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