The Surprising Truth About Where Your Money Goes
- Benjamin Concepcion
- Aug 6
- 2 min read
No matter how much money we make, if we don’t keep track of how we’re spending it, we’re essentially walking around blindfolded. It’s easy to be shocked when the bills pile up and we have no idea where it all went. But the truth is, how can we expect to know if we aren’t tracking our spending?
Try a Short Experiment
Here’s a simple exercise: Track your expenses for just one week. Write down everything you spend money on, from groceries to gas to that coffee you grab on the way to work. Then, take your total and multiply it by 4. This gives you a more predictable picture of what your regular monthly spending looks like. The more predictable your numbers, the clearer your path toward financial goals will be. Please do not judge yourself, instead, study yourself, it will be a liberating experiment.
In organizational theory, there's a saying: What we don’t measure, we can’t improve. This is especially true when it comes to our finances. Measure and tweak until you know you are doing the best with what you've got.
Hidden Money Leaks You Might Not Notice
Certain things quietly drain our bank accounts without us even realizing it. Here are a few:
Our Vices- Whether it’s that daily cigarette, your weekend drinks, or impulse buys, these habits can add up to a big chunk monthly. Life can be hard, and we need ways to cope. Your dollars can sometimes only provide expensive band-aids.
Subscriptions- From streaming services to gym memberships, they often auto-renew without us giving them a second thought. If you’re not using them, cancel them!
Buy Now, Pay Later Platforms- While they can seem like an easy way to make purchases, these platforms can easily lead to lifestyle inflation. Unlike layaway plans that were limited to a single store (that was the only way my parents to get me school clothes), these “Buy Now, Pay Later” options allow you to overspend in multiple places, often on things you can’t afford.
If you already have trouble tracking where your money is going, these platforms can make things even worse. They offer the illusion of financial flexibility, but they can add up quickly and leave you wondering where your paycheck went.
By paying attention to these little drains on your finances and tracking your spending, you’ll start to feel more in control and empowered to make intentional decisions while creating systems that prioritize your dollar power.
