What are the expenses in your budget? When you know where your money is going, you can decide
if it is being spent wisely . Review records of cancelled checks, charge statements, grocery store tapes, receipts and bank books which show where the money has gone. Consider fixed expenses and flexible expenses while writing down expenses. Fixed expenses are those payments,
which consistently stay the same . They include rent or mortgage payment, utilities if on a budget plan, insurance, fees for education, automobile payments, furniture and appliance payments, payments
on personal loans and charge cards , savings for goals and savings
for rainy days . Flexible expenses are the amount that vary from month to month and include food, clothing, household equipment and supplies, gifts and contributions, entertainment and hobbies, medical charges and money for other
miscellaneous purchases.