Reasons Tracking Spending is Problematic

If you’re a born spender and have never met a credit card you didn’t like, you would benefit from both a detailed budget and the tracking of every penny going out the door.

Tracking your spending a good way to learn about your habits, though, and I did it for the better part of three years once I started blogging, but the process is not without issues.

Reasons Tracking Spending is Problematic

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When someone asks what others spend the most on, the responses inevitably include things like: “taxes” “my kids’ college tuition” “VTSAX” “donations” “the mortgage”

Everyone Does It Differently

There are other situations where spending maybe isn’t spending. Like You go on a restorative retreat that allows you to be more productive at work upon your return. 

When Spending Isn’t Spending

The main reason for tracking spending is to get an idea of what your future spending might look like and allow you to determine how much you need to save for retirement.

Past Performance May Not Be Indicative of Future Results

If you have a competitive streak in you, once you start keeping score, you pay closer attention to how you’re playing the game. In terms of tracking your spending, this could be a very good thing or a not-so-good thing.

The Gamification of Spending

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The Joy of Spending My Money Guilt-Free

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