America Saves Week: Where Does Your Money Go? [Infographic]

In recognition of America Saves Week, we are offering tips to help you save more of your money. Today, we’re talking about how to identify money drains.

Does it feel like as soon as you get paid, your money just disappears into thin air? Is there a hole in your pocket that seems to be getting bigger?

If you feel that you can’t save money because some emergency always comes up, it might be helpful to take a notebook with you and jot down everything you purchase for a month.

It might not be the “emergencies” that are holding you back, but poor spending habits you weren’t aware of. Taking notes will help you see where your money is really going. Once you’ve done that, it’s time to develop a budget (also known as a spending plan).

Click on the featured image above to see the infographic by Lifehacker. This partly helps solve the mystery of where most consumers are putting their hard-earned cash each month. How do you compare?

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