How to Keep Up with Your Expenses

How to Keep Up with Your Expenses

When money becomes tight, life becomes stressful. It can be hard to know what to do in these situations. Some people end up living paycheck to paycheck with little room for financial goals or anything else. You may not have to do this if you implement the right financial strategies. The best way to gain control over your expenses is to first be aware and then take action. Feel free to talk to a Chattanooga bankruptcy lawyer if you find yourself falling into bankruptcy.


Making changes to your expenses is difficult without first being aware of your expenses. This means looking at your monthly budget to figure out what works best for your unique financial situation. The first step is to write down and add up all your monthly expenses like:

  • House or rent payments
  • Utility expenses
  • Internet bills
  • Estimated grocery expenses
  • Total gas cost estimates
  • Entertainment and other non-essential expenses

You do not have to punish yourself or deprive yourself of money for entertainment. What you do have the option to do is to limit your monthly spending. The next step will help you figure this out and involves adding up your total estimated monthly expenses. Then subtract this total from your monthly income.

Look at what money you have leftover. Ask yourself how much money from that amount you would not mind letting yourself spend on non-essential things. Consider whether you want to invest part of that leftover money on a financial goal, debt, or anything else.

However, if you find that you have no money leftover or your expenses exceed your income, then you need a different approach. At this point, you can take the step of deciding what expenses to cut out to make room for all your monthly expenses.


Cutting down expenses can be stressful but does not always have to be. There are several creative ways to cut down expenses that might be easier than many people realize. First, look at your list of non-essential expenses and start subtracting ones you can live without from your monthly expenses total. Then recalculate what money you have left each month.

Use tricks like reducing your electricity use whenever possible, cutting out unnecessary subscriptions, and limiting how much you go out to eat. Fast food expenses alone can drain money quickly. Consider sticking to a strict grocery list when going to the store.

You can also use a monthly expense tracker to make all this faster. There are online tools and templates you can download that will track all of this for you. Experiment with cutting out different expenses until you find the balance you want.


No one wants to face bankruptcy and you may not have to do this alone. Contact us today at Tom Bible Law by dialing (423) 690-7712 to see what options you may have for bankruptcy. Our experienced team of Tennessee bankruptcy attorneys might be able to help you escape impending bankruptcy. You can find us located in the Tennessee cities of Chattanooga and Tullahoma.