Ready, Set...

Step one: Why bother tracking what you spend if it's the Most Dreaded Task on Earth?

Here's my answer: Because I CAN'T BELIEVE HOW MUCH WE SPEND (we being my husband and I), and I want to cut the fat so we can save more. You may have your own reasons: Maybe you're saving toward a goal, you want to get out of debt, or maybe you just want a greater sense of financial control.

The best way to get that peace of mind is to make sure you know where your money is going and why.

NOTE: The point is not to feel guilty or ashamed! No, no, no. The point is that once you notice--Omigosh, I always get $30 cash back at the grocery and god knows where it goes--or Holy pork fried rice, Batman, who knew we got takeout for the kids 5 times a week!--you can start making more conscious choices.

Maybe takeout is smart because it saves on time and sanity. Maybe not. But until you notice your personal money quirks, it's impossible to make changes.

Step two: There are various ways to track what you spend. I encourage you to employ whatever method suits you, be it an Excel spreadsheet, an envelope in which to keep all your receipts, a notebook, your iphone--or simply posting your daily expenses here the Financial Balance blog with me.

If you hate the tedium of any sort of record-keeping--and you're comfortable with online banking--try using Mint.com, a free budgeting website that downloads your bank transactions securely.

(If you don't want to share your actual spending, you can still post your experiences this month--and I hope you will!)

Normally, I'm a pen and paper kind of gal. I've had the most success keeping an envelope in my purse where I can stow receipts; if a purchase doesn't generate a receipt, I jot it down on the envelope itself. Luckily, now I have this handy blog, so I will post my daily totals here.

I plan to track everything, including bills, groceries, gas, miscellaneous--and share my own insights as the month progresses.

Today's total: $7.75