In order to cut down our spending, the first thing we need to do is keeping track of our spending. I have been using the tracking style recommended in the book “Your Money Or Your Life”, which is keeping track of every cent that flows in and flows out of your life. You will have to design your own unique category because everyone has his or her own spending habit and financial situation.
“Your Money Or Your Life” is one of the earliest personal finance book I read during my undergraduate time, but I didn’t followed its advice on tracking expense until 2 years after my graduation.
I used my own designed Excel sheet to track my daily expense, income, total of each category and my “real” hourly pay.
If you want to use my designed Excel sheet to track your expense, you can download it from the resource page. There are instructions on that Excel sheet that outlined how to use it to track spending.