Day 2: Track Your Spending - ML2S September Savings Challenge. (read tips at the bottom of this page)
Today is all about awareness. Track every penny you spend—yes, every penny! begin your budgeting journey by knowing your numbers and habits. Logging your daily expenses helps you see exactly where your money is going and highlights areas where you can cut back. You can use a notebook, an app, or even a simple spreadsheet.
At the end of the day, review your list. You might be surprised at how quickly those little purchases add up! While tracking your spending might not seem fun, it’s the first step to making smarter financial decisions. 💵 Sure, you can see your spending in banking apps and statements, but there’s something impactful about writing it down as you go. Give it a try and don’t forget to check in on socials to leave your comment! This is a community challenge, and the tribe is all here with you.
Side Note (Tips Needed for the rest of the challenge!)
As we continue through this challenge, we will have days dedicated to groceries and outings. However, since it’s the start of a new month and some people do a full market trip at the beginning, I wanted to share a few tips now that could help you save money before making any big purchases. We’ll revisit these ideas later, but keep them in mind for now.
Before making a full month’s grocery trip, consider shopping just for the next week. While splitting up your trips might seem less convenient, it’s known to cut down on food waste and unnecessary purchases. Plan your meals and buy what you need for the week. We’ll have a day focused on this soon.
Avoid planning any extra outings. If it’s not already on the calendar, don’t add it this month. Remember, we have goals to hit!
Put your savings goal from yesterday somewhere visible. Make sure it’s your short-term goal for the end of September—not for the next three months. One goal at a time, and if we exceed it, that’s a bonus!
IMPORTANT: Each day you save money, create more money, or cut back on something you’d normally spend money on, take that amount and move it to a savings jar, account, or envelope. Keep it out of sight—remember, it would have been spent anyway, so act like it’s gone!
Saving and budgeting aren’t supposed to be miserable. If there’s something that brings you joy, even if others think it’s pointless, you don’t have to cut it out. Just make sure it’s included in your budget! Balance is key. Use discernment—only you know what can go and what you really want to keep.
Here’s a digital Monthly budget and Expense tracker template that I created to help you. This is to be worked on in your free time, but we will discuss it during the end-of-week recap. Try to get this done as soon as you can, preferably before Saturday, because you need to know your numbers!
If you signed up for the original ml2s September savings challenge emails, the template is attached to your Day 2 email for free! In the future, I will be selling this template for $1.99 Click here to donate or Purchase it for $1.99
See you on socials Fb or Ig @mommalikes2save Don't forget to check in today! #ML2SSavingsChallengeSeptember
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