Spending can balloon out of control quickly, and with inflation rising, keeping tabs on your money is more important than ever. As you examine your spending, look at the expenses you can’t control. More importantly, take a hard look at what expenses you can control.
Analyzing your expenses doesn’t have to be a mystery or a hardship. There’s a simple formula that makes controlling your expenses doable.
Payroll Deductions: Unavoidable
One area you can’t control is your payroll deductions.
Payroll deductions are so standard you probably aren’t even aware of how much is taken out. But imagine that your employer handed you a wad of money—your gross pay in cash. Once you have it in hand, your employer starts taking back your hard-earned cash for the required deductions. As a result, what’s left in your hand seems significantly less than what you were initially given….