ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What is a Spending Log? A spending log is a way to track all of your spending throughout the day, week, month, or year. It is a record that you keep of how much you spent ($ amount), when you spent it (date), and where you spent it (store).

Detailed explanation-2: -A spending diary is a journal where you write down all your expenses for each day of the week. Keeping a spending diary is a great way to see how you are using your money. One of the many benefits that come from keeping a spending diary is that of spending less.

Detailed explanation-3: -The best place to start when tracking spending is gathering the following information: The most recent full month’s statements from your bank checking accounts. The last credit card statement. Receipts or a tally of your daily cash spending.

Detailed explanation-4: -Check your account statements. Categorize your expenses. Build your budget. The 50/30/20 budget calculator. Budgeting or expense-tracking apps. Explore other expense trackers. Identify room for change. 19-Oct-2022