For the veteran budget handler, whether you need to track every single expense is debatable. If you’ve never done it, though, try the 30-day tracking challenge. Simply keep track of every penny you spend for a month.


As personal finance site Saving Advice explains, tracking your money for thirty days is one of the best ways to figure out exactly where your budget is leaking and how to fix it. Most people would likely uncover a surprise or two when they start paying attention to how much they spend each month:

This challenge will give you a better idea of where your money is going. Take 30 days and track every penny you spend and what you spend it on. At the end of the month, draw up a budget and pick places where you think you spend too much money and make some cuts. This is a great idea to not only save money but also get better control of your finances. The longer you keep this tracking challenge up, the more conscious you’ll become of how you are spending your money and it will affect your long-term financial health.


Once you’ve tracked everything for a month, it’s up to you whether you want to continue on that track. For some, tracking everything daily forever is the best way to stay on top of their spending. In that case, using You Need a Budget is a great tool. For others, a spending plan is simpler than budgeting every dollar. No matter what, though, tracking every expense for a few weeks is a great way to get a baseline.

10 Money Saving Challenges to Try | Saving Advice via Rockstar Finance