Receipt Exercise & Spending Journal


If you only have one shot to introduce your client to a Financial Health tool then make sure the Receipt Exercise and Spending Journal are your go tos. This is the first step toward building a personal financial plan.
  1. First part is to keep all of your receipts for one week in an envelope. Remember: Get a receipt every time you allow money to leave your possession. If you can’t get a receipt, write it down on a piece of paper and put that in the envelope. Even if it’s just a penny, write it down.
  2. After saving receipts for a week, you should record it in the Spending Journal. The Spending Journal is a very concrete tool that can help illuminate patterns, but also prepares you for developing a financial process that is built on actual data. You will record what you bought, where you bought it, and how you paid for it (check, credit card, food stamps, etc.)
  3. It is important to record how you allow money to leave your possession as there may be patterns worth noting.
  4. The Receipt Exercise and Spending Journal is for your knowledge and the point is to have you become aware of exactly where and what you spent your money on.

Download The Spending Journal