I did this experiment because I read in Your Money or Your Life that you could cut your expenses at least 20 % by keeping note of every cent that goes in and out of your life.
So I wanted to do a three months experiment to see if that claim was true.
In May I had the following spending in the four categories:
Category 1 (Necessities) = 2.425 DKK (231 $)
Category 2 (Wants) = 1.874 DKK (134 $)
Category 3 (Unforeseen) = 0 DKK
Category 4 (Investing) = 30.000 DKK
Total spending = 4.299 DKK (432 $)
Average amount pr. transaction = 195 DKK (24 $)
Average amount pr. day = 139 DKK (14 $)
Average transaction/day = 0,7
|Cat||april 2020||march 2020||may 2020||% Improvement|
|april 20′||march 20′||may 20′||% Improvement|
|Amount pr. trans||186||161||195||-5|
|Amount pr. day||456||97||139||228|
Did I improve more than 20 %??
Oh yes, I did!
From my worst month (April) to the previous month I improved 228 % on average. And I improved 321 % in category 2 which is the “Wants” category I would like to have close to zero spendings in.
Go ahead and try it yourself. Let me know if you can improve at least 20 % as well!
A fellow danish money blogger is this post sponsor. His name is John, and he writes in danish about hands-on money-saving tips and other money/finance related stuff at vilebo.dk