Where did all the money go? Track it to find out
By Bankrate.com

After Bankrate.com ran a story on the seven-day money challenge, readers flooded us with e-mails describing their own savings success stories. They also had lots of advice and tips for others who need help sticking to a budget.

The money challenge is simple. Figure out how much cash you need to cover a week's worth of expenses such as groceries, gas, food out and entertainment. Then, get that amount of cash and put away your credit or debit cards. As you go through the week, jot down in a notepad what you're spending or you won't remember where the money went. Can you make it seven days? Or will you run out at midweek?

This exercise will help you understand your spending habits and identify where you can cut back in order to keep within your budget. If you need to create a budget, just use this handy work sheet.

The stories that follow are from readers who are conscious of their spending and proud of their saving ability. Maybe one of their tips will help you get on the road to saving.

Track spending

See it in black and white
After reading your article, I wanted to say that it is a wonderful idea. I, too, have a system that works and wanted to share it. I get paid every other Friday and of course it is direct deposited. I have an Excel spreadsheet on my home computer where I enter my check amount (which is always the same within a few cents) and then I list each bill I must pay out of that check. What is left over is what I have to spend for two weeks until my next paycheck. As I keep this spreadsheet for three months at a time, I really get the BIG PICTURE! The only difference is that I charge my gasoline and pay the bill in full each month, so it varies and I compensate by allowing for the max bill in the past and if it is less, then I come out ahead. I also include transferring money out of one paycheck to my savings account. Having this on my computer and seeing it in black and white really works!
-- Becky P.

Stay in and save
I tried something similar a few years back when I was trying to make it on my own. I was working two jobs; office work by day and waitress by night. I was making a lot of money in tips and didn't know where it was all going. So I made a spreadsheet to track all of my money coming in and going out. I found out I had spent so much money hanging out with friends that I re-evaluated how much I went out. I ended up saving enough money in six months to pay cash for my motorcycle. Writing everything down on paper and evaluating it every month really held me accountable for what I spent. I also made goals on what I wanted to save every month.
-- Holly R.