I often ask clients and prospects how much they spend on a monthly basis. About 30% of the time that people can tell me the number with accuracy. In fact, usually, when couples are in my office together one will look at the other insinuating the other is spending too much money. For others, it just seems like a daunting task, and they will never get their arms around monthly spending. A lot of people would rather bury their head in the sand then know the monthly number. It seems easier to bury your head in the sand than face reality. I know, I've been there. I played tricks with credit and assumed yearly bonuses would come in to cover the fact that I was spending too much on a monthly basis. The methods go away once you retire, though. No more games with credits and no more bonuses. If we take too much money out of our retirement accounts, we will end up running out of money before we run out of life.Fortunately, there are so many tools to aid in tracking monthly expenses. When I decided to get out of the $68,000 debt many years ago, I used Quicken to track my expenses. I still use Quicken today and tracking my spending is one of the best planning decisions I ever made. The truth is if you can track your expenses for 90 days you will begin to have a clear picture of where your money is going. Whether you are in debt, I bet you will make the following six decisions about your spending after tracking expenses for 90 days.

You will eat out less

I like to eat out. Almost everyone underestimates their monthly spending eating out. Simply put, eating out is expensive. According to the Bureau of Labor Statistics, the average U.S.household spends 59.8% of their food budget on eating at home and 40.2% on food out of the home. Since a food budget can be 12-15% of a household’s total expenses, preparing more meals at home can mean substantial savings. I am not saying to cut out restaurants altogether, but cutting the practice down 20% to 40% could mean the difference between a successful and unsuccessful financial life. Think of it this way, If the average person spends ten dollars going out to lunch it comes out to 200 every month, or 400 per month for both spouses. That is a significant amount of money spent, and that is just lunch.

You will buy less stuff

We are consumers and buy so much stuff. Little purchases at the checkout of a grocery store and little things at convenience stores add a lot of money after the month is over. Larger purchases can take a significant bite out of the amount of spendable income that is available. We tend to make impulse decisions without looking at the big picture and how it affects our long-term goal of a vacation home or retirement early. Notice I am not suggesting to sacrifice on experiences like vacations, because I am big on experiences. I am a family steward and experiences are often done with family and it is difficult to put a price on a family experience. If you are in debt though, maybe it is not a trip around Europe but it is a camping trip up the street.

You will get along better with your spouse

Listen to episode number 20 and listen to the seven steps to getting on the same financial page as your spouse. Fighting about money is the number one reason for divorce. Part of getting on the same financial page is your spouse is communication about spending. My wife and I are aligned almost perfectly when it comes to money. We have compromised and made decisions together to come up with our spending plan after we started tracking expenses. I urge you to get on the same page as your spouse.

You will shop for better pricing on your monthly services

I remember paying more than $100 for cable television. I never thought too much about it until I started tracking my expenses. I started thinking this was a large yearly cost when I multiplied out the expense. I began shopping for cheaper service in cable, the internet, cell phone,