Jaian Cuttari-5 Ways to Better Keep Track of Your Money

Forbes magazine reported in 2016 that 63 percent of Americans have less than $500 in savings. Clearly, you are not the only one who lives paycheck-to-paycheck. In some cases, these statistics indicate a shortage of earnings, but they may also show that we're not tracking where our money goes. Fortunately, finding out doesn't have to be hard. According to Jaian Cuttari, with a few tips and simple practices, you can organize your finances and keep track of your money.

Find Out What You’re Spending on Little Things

Small day-to-day expenses aren't always taken into account in the budget: coffee on the way to work or lunch with colleagues. By saving your receipts and storing them in a designated location at the end of each day, you can keep track of your "extra" spending. Finding out which expenses aren't included in your budget is important. You may be surprised at how quickly they rack up.

Create an Accurate Budget

Adding a line item to your budget for that additional spending is the next step. You need to determine where the rest of your income goes: rent or mortgage, utilities, groceries, car payments, and insurance premiums. 

Set Savings Goals

Is there a category in your budget just for savings? When it comes to saving, it doesn't matter whether you're building up a retirement fund or stashing six months of living expenses for an emergency. As you draw closer and closer to your goal, take satisfaction in your progress.

Keep Up-to-Date

There is no stagnation in life. Even if you determined where your money went in August, the picture may have changed by November. As circumstances change, it's important to stay on top of your money. Periodically review your spending and your budget to identify trends you might not otherwise notice.

Let Quicken Do the Work for You

Even if you have a handle on your finances, it can never hurt to have some help keeping track of all the little things. According to Jaian Cuttari, quicken desktop software provides tools that allow you to see exactly where your money went, and if your savings, spending, and monthly bills are on track.