How To Get Out Of Debt | Step 4: Track Your Expenses | Cory and Erica

How To Get Out Of Debt! Step 4: Tracking Your Expenses. Today we talk about the importance of tracking your expenses when trying to get out of debt. We tell you exactly how we did it. We also briefly touch on cutting expenses once you have tracked them for a few months. The more money you free up for the debt, the quicker you can get rid of it!
EveryDollar
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In case you missed it:
Our Debt Free Story: • How To Get Out of Debt...
How To Get Out Of Debt - Step 1: Getting Started: • How To Get Out Of Debt...
How To Get Out Of Debt - Step 2: Budgeting • How To Get Out Of Debt...
How To Get Out Of Debt - Step 3: Stop Saving: • How To Get Out Of Debt...
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Welcome to our channel! We are a military couple and we just had our first child, Zoey. We currently live in Italy and post videos about our life in Italy, parenthood, and money. We recently paid off $145,000 dollars in debt in 35 months and have discovered the concept of FIRE (Financial Independence Retire Early). We want to help others learn how to budget, get out of debt and realize there is more to life than just working that 9-5 job. We are currently in the learning phase of both parenthood and investing and we want to bring you along so you can enjoy family content while learning a thing or two about personal finance.
We hope to inspire you to take control of your finances so you can control the direction of your life.
We are not financial experts and this video does not constitute as financial advice. Please consult a certified financial planner who understands the concept of financial independence and early retirement.
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Please feel free to leave any questions in the comments and we will answer them!
-Erica and Cory

[@martavillanueva1062]

Augh! Cory, just drink water.😲 Water has electrolites, too😎. No critiques for Erica🖼 because she's perfect😉. Once you eliminate bills, you won't even need to track so aggressively anymore. I use 5 cash envelopes per month and it's not wads of money because my bills have dwindled down. Got 3 weeks in a 5-week month to this: $30 Gas, $10 Laundry, $3 Car Wash, $100 Food, $100 pocket money. All other money goes to student loan debt, plus any unused weekly envelope money goes to a weekly principal payment to my student loans, too. I start working in my own neighborhood(walking distance), so I expect my gas to go down to half. My car, I call it The Silver Bullet because It's so small, a Chevy Spark, I can even clean it with a microfiber cloth so I take it to a car wash once every 3 months if I'm feeln' lazy. As for food, if I'm aggressive I can cut down to $230 a month. It's rare to need a whole $100 pocket money in a week. My point is that it will get easier and lighter. And that goes true for the pressure one feels. Especially since you both are a team 🏅. And my rambling stopssss....NOW.