Expense Tracking
Systematically recording every expense so you know exactly where your money goes.
What You Need to Know
Expense tracking gives you visibility into spending patterns. By logging each purchase, you can spot leaks, set realistic budgets, and make informed trade-offs.
Ways to Track:
- Apps (YNAB, Mint, Monarch)
- Spreadsheet or notebook
- Bank and card export with manual categories
- Receipt scanning tools
Review totals weekly or monthly to identify habits you want to change.
Sources & References
This information is sourced from authoritative government and academic institutions:
- consumerfinance.gov
https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/
Related Calculators & Tools
Put your knowledge into action with these interactive tools:
Related Terms in Personal Finance
20/4/10 Rule
A conservative car buying guideline: 20% down payment, 4-year maximum loan, monthly payment ≤10% of gross income.
50/30/20 Rule
A budgeting guideline allocating 50% to needs, 30% to wants, and 20% to savings
Analysis Paralysis
Overthinking choices until you miss the window to act.
Automated Savings
Setting up automatic transfers so saving happens without willpower.
Behavioral Finance
The study of how emotions and mental shortcuts influence money decisions.
Budget
A spending plan that tracks income and expenses to ensure you're living within your means and working toward financial goals.