Track Your Spending To Avoid Unmanageable Debt

Track Your Spending to Avoid Unmanageable Debt

We’ve talked before how it is often the small everyday expenses adding up over a period of time that contribute most of the debt problems many American households face. Of course major expenses like mortgage payments, car payments and utility bills contribute as well. But getting swamped by small recurring expenses is an easy trap to fall into because they seem so inconsequential when viewed in isolation. But consider the example of the morning cup of coffee.

If you stop at a coffee shop on you way to work or to run your daily errands, you probably spend about three dollars for a regular cup of coffee — even more if you go for the fancy stuff. Three dollars doesn’t seem like a lot of money. But say you do the same thing every weekday — that’s $15 a week. Over a month, that’s $60. Over a year, it’s $720. Now, say you paid with a credit card that charges 15% APR. That’s over $100 in interest by year’s end for a total of well over $800 dollars. And that’s just a cup of coffee.

Tracking these small recurring expenses can help you get a better understanding of where your debt actually comes from. You can do this by keeping a journal, making a budget, or even just carefully reviewing your credit card statement every month. These simple actions can help you identify where your money is going, where your debt is coming from, and what things you can reduce or do without in order to decrease your expenses.



From Our Clients
  • “We had great experiences with Mr. Roy. And all the folks here. Kevin and Chris and all the people were very kind and thorough in looking after our situation many years ago.”

    - Kathryn D.
  • “My wife Jane and I were experiencing a very difficult financial situation. Debts, foreclosure, repossession's to name a few. We were referred to Lansing Roy and it was one of the best decisions we ...”

    - Douglas P.
  • “Smartest man on the block!!! A wonderful firm!!! An excellent choice!!! Expand, expand, expand”

    - Brenda B.
  • “Filing for bankruptcy is, obviously, not a pleasant experience. The process, from making the decision, through the final disposition, is emotional and stressful. Our situation was complicated and took ...”

    - Kerry M.
  • “All around great to work with!! This firm is excellent!! I was referred by a family friend and I could not believe the level of service.”

    - Satisfied Client

How We're Different

  • Free In-Office Bankruptcy Workshop
  • Well-Versed in Bankruptcy Law
  • Solid Reputation in the Industry
  • Caring & Personable Service
  • Non-judgmental Approach to Each Case

Contact Us

Fill out this form to request a free consultation.
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.