Definition
A process where you review and adjust your budget to keep spending and income aligned. Helps prevent overspending.
What to consider
- Spend a few minutes each month matching your receipts to your budget.
- This simple review can reveal unexpected spending habits.
- Use the findings to adjust your plan for the next month.
Real world scenarios
- Each Sunday, Rosa cross-references her receipts with her digital budget to see exactly where her money went.
- Quentin compares his planned grocery spend with real costs, noticing weekend impulse buys push him over budget.
- Consistent reconciliations show Alicia how small changes, like skipping lattes, add up significantly over a month.
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