See Where Your Money Goes

This is a good time to become more aware of how much money you actually spend and what you spend it on. Start to keep a written record of what you spend each day, down to the penny (yes, that pack of gum counts). In opening your eyes to where your money actually goes, you might be surprised at how reluctant you become to part with your hard-earned cash.

An easy way to remain on track is to carry a small notebook with you. Write down every purchase and expense, down to quarters you put in the parking meter or quick stops at the drugstore. Then, if you wish, at the end of the day, take 10 minutes to transfer the amounts into a spreadsheet with categories if that helps you. For instance, break down a page into columns and track your spending in areas like food, entertainment, transportation and household items. This will help you figure out what areas you can scale back on. Perhaps you eat out every afternoon, when you could bring lunch to the office or eat at home.

This will be a big change, but it will be a great experience for you. Once you become aware of where your money goes, you will find easy ways to gain control of your expenses and begin saving money.