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Personal Finance 1st Edition by Jack R. Kapoor
Edition 1ISBN: 1308231393Personal Finance 1st Edition by Jack R. Kapoor
Edition 1ISBN: 1308231393What did your Daily Spending Diary reveal about your spending habits? What areas of spending might you consider changing?
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Step 1 of 2
The daily spending diary reveals the expenditures and payments on different categories and in examining in which category the expenditures is high and provides a measure to control and avoid unwanted expenses which in turn leads to savings.
Daily Spending Dairy reveal much about the spending habits like:
• Spending huge amount on car or travelling expenses,
• Spending on daily needs,
• Spending on housing utilities,
• Expenses regarding health care,
• Spending on unnecessary expenses, like movies, junk food, etc.,
• Expenses regarding education,
• Spending on snacks and coffee expenses,
• Spending on soft drinks,
• Spending on clothing,
• Spending on entertainment expenses,
• Spending on holiday tours and
• Spending on gift expenses.
Step 2 of 2
Following are the areas of spending which might consider changing:
Spending on soft drinks, expensive clothing, expensive gift, unnecessary expenses like on movies, junk food etc, entertainment expenses and expenses on holiday etc.
These above mentioned expenses needs to be controlled in order to avoid unnecessary spends which will lead to more savings which a person can save for future needs that is to be utilized in purchasing of necessity goods as well as in health care spends.
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