Day 5: Tracking Spending Habits · The IRL Game 🌎

Day 5: Tracking Spending Habits

Activity:

Analyze your spending behavior to find patterns that either support or hinder your financial goals.

Task:

Review last week's expenses and note any recurring, non-essential purchases. Reflect on whether these align with your goal of becoming debt-free and building an emergency fund.

Journal Tracker:

1. What spending habits have you identified that might be holding you back?

Food is the most expensive part of my monthly expenses. I must find a way to prepare my food in a less costly manner by planting some vegetables in my backyard. I have already stopped going to fancy restaurants, so whatever is left from my overall expenses, such as loan payment, groceries, and food will be redirected to emergency fund.

2. How can you change or control these habits to improve your finances?

I try to avoid watching those ads on social media, so I will not get tempted to shop online and visit restaurants.

Instructions:

I know it is hard to control a bad habit, but I believe habits are formed. Controlling my eating habits is the first step towards reaching my financial goal. It does not only make my wallet fat, it helps me maintain my ideal weight.

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