Boy! A month goes fast. How did it go with your spending log this past month? Was it difficult to keep the log? Or was it the perfect tool for you to keep a record of your daily expenses. Now that you have recorded a month's expenses, you can analyze how you spend your money and what changes you can make to reach your Fourth Quarter goals. Are you spending your money like you thought? Were there any surprises? What did you learn about yourself?
How you spend your money says a great deal about what you value? If you spend $6.00 a day on a cup of coffee or $700.00 dollars a month on shoes, it could easily be said that you value coffee or that you value shoes. How you spend your money is a tangible expression of what you value in life. But understanding your motivation behind how you spend your money may not always be clear. Paying your mortgage doesn't necessarily mean you value the house you live in; it could mean that you value the security of owning your own home. Paying premium for coffee, shoes or other goods could say more about the lifestyle you value as opposed to the object themselves.
Take time this week to look at your spending log and think about what your expenses say about you and what you value. Are you careless with money? Are you frugal with money? Do you profess certain values but spend you money contrary to those stated values? I'm taking about understanding "the why" of how you spend your money. When you understand your motivation, it becomes easier to set priorities when making changes. Take some time this week to sit quietly and think about how you send your money and what it says about you.