Sunday, November 30, 2008

Experiment #1: Tracking & Analyzing My Expenses (12/5/08 -2/ 12/108)

Every single paycheck I receive, it is almost a guarantee that, in total, about $30 to $40 Dollars is spent, but unaccounted for. I'm going to use the scientific method to answer why this happens

Question: See Above /\

Background Research: I've learned that this happens to many people. The answer to this, that comes up most, is to faithfully track ones spending for a week straight, and then analyze what you have spent and what can be cut out.

Hypothesis: I believe that by diligently tracking my expenditures, I will be able to find where that extra $30 to $40 dollars goes.

The Experiment!: My experiment will be to track my spending, beginning on my next pay day, which is December 5th. Each night I will report my spending in a posting. Finally, on Sunday December 13th, I will analyze my expenditures.

Analyze Data: On that Sunday, I will analyze the data, and draw a conclusion.

I've tried to track my spending in the past, but I always end up forgetting to record on some days. Perhaps since I committed to it on here, I may feel more compelled to be more aware of my spending. We will see this Friday!

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