Balancing and Budgeting - 10 Tips for Spending

10 Tips for Spending

  1. Look at the major ways you spend money. Which method helps you not to overspend?
  2. Talk to family members and friends about how to spend well.
  3. Keep a personal spending diary. Write down how much you spend every day.
  4. Know the sales tax rate for your area.
  5. Develop a spending plan and a budget.
  6. Track your spending by categories (such as rent, transportation, and groceries).
  7. Notice how other people affect your spending.
  8. Do comparison shopping and don’t buy on impulse.
  9. Get information about a product or service before you buy.
  10. Buy what you “need,” not just what you “want.”

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Are Americans interested in tracking their budget online?1

Bar chart showing 50% of Americans interested in tracking their budget online, 35% not interested, and 15% not sure.

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Source: North American Technographics Financial Services Online Survey, Q2 2008, Forrester Research, Inc., Survey Base: 3,581 US Online Respondents currently using online money management tools and those not currently using them but are interested in using them.