There is a saying that doing the same thing over and over again and expecting different results is the definition of insanity. I heard the same sentiment expressed a different way today:
"Running into a brick wall hurts just as much the first time as it does the 500th time."
In order to get a different result you have to be different. Whether you're trying to improve your credit, change your spending habits, save more or pay off your loans you have to change your current behavior in order to be successful. Sticking to existing habits and expecting your financial situation to change is like running into a brick wall over and over again.
They say in order to form a habit you have to practice the behavior for 30 consecutive days. I'm not sure how true it is, but it's worth a shot right?
So for the next 30 days, use your phone's calendar to keep track of your daily spending. Just write the amounts you spend. I recommend using your phone because it's something that's always with you so you don't have to worry about maintaining another log.
If you have an iPhone, you can download one of the many free aps available; just search "expense tracker" in the App store. Blackberry users can use Expensify or Money Menttor.
Keeping your spending habits at your fingertips is a great way to cut back expenses.
Breaking a bad habit is hard, but isn't the end result worth it?
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