It's important to track your spending habits for financial health, but what happens when you've achieved it? Personal finance blog Get Rich Slowly's J.D. Roth explores why he no longer needs to keep track of every penny he spends.
Photo by emdot.
Roth explains that while he used to log and track his spending fastidiously, and that while it was an effective tool in helping him change his spending habits, he found himself spending less and less time doing it as time went on. He found that instead of losing control over his finances like he feared, his spending habits remained in check. In a way, he had outgrown this technique:
Although I no longer track my spending in detail, that doesn't mean I'm ignoring my finances entirely. Hardly! I still check my statements every month to be sure there's nothing goofy. Plus, I double-check to be sure my account balances are continuing to grow. In a way, it's as if I've removed the training wheels and am now zipping around the driveway on only two wheels.
Have your financial habits evolved as you've learned to control your money? Tell us about it in the comments below.
Why I No Longer Track Every Penny I Spend [Get Rich Slowly]