This is a question I used to ask myself all the time. I'm sure you must have too or you probably wouldn't be reading this blog. So, where is your money?
Most people go through life not paying attention to exactly where or how their money is being spent, and on what. For example, you got paid on Friday its now Saturday morning.
You say to yourself, "well, I have a little money now maybe I'll go buy breakfast instead of cooking". Later on you also decide to have takeout for lunch while running errands and maybe that evening you go to a fancy restaurant because you are too tired to make dinner after running errands all day (not to mention the snacks and Starbucks coffee in between...lol). Did you stop at any point to see how much is left after spending a little here, and a little there?
There is also the convenience of subscription based services, $5 per month on this, $12.99 per month on that, credit cards, rent/mortgage...I could go on an on.
The point is if you are not tracking how much you spend and exactly on what you'll never know where your money is actually going.
I remember when I used to make a lot of money touring the world as a musician and making even more money as a record producer. Back then I wasn't financially savvy, more young and free so as the money came in it went out. It wasn't until a few years ago I actually started reflecting on my life and financial situation that I found a very interesting audio book called "The Richest Man In Babylon". This book has motivated me to look at my finances and money in general a whole new way. If you like audiobooks you can get it HERE it should shed some light your financial situation too.
So whats the solution? It's quite simple. BUDGET!
We need to look at our personal finances in the same way those big cooperations/companies/businesses look at theirs.
Set a weekly or monthly budget, keep track of money coming in (earnings/income) and keep track of money going out (expenses). This way we can save a little at a time and invest a little at a time.
DISCLAIMER: I am not a professional financial advisor nor am I an accountant. Please consult your professional financial advisor, your husband, your wife before making life changing financial decisions :)
I also have an interesting video on youtube relating to this topic. You can check it out below.