3557: [Part 2] How to Complete Your Very First Spending Audit by Amanda Brownlow on Personal Finance Basics

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Education, Investing, Business, Self-improvement

4.5 • 1.3K Ratings

🗓️ 12 May 2026

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3557: Amanda Brownlow walks through the practical, sometimes uncomfortable process of dissecting your daily spending and turning raw numbers into meaningful financial goals. By categorizing expenses, confronting cash habits, and setting actionable targets, she shows how small, honest adjustments can unlock real progress toward debt reduction and savings. It’s a clear path from awareness to control, helping you build a budget that actually works in real life. Read along with the original article(s) here: https://hellobrownlow.com/2020/02/17/how-to-complete-your-very-first-spending-audit/ Quotes to ponder: "You need to know exactly what you spent money on." "You need to have a concrete idea of where your money went!" "Set a goal, amount, what actions you’ll take to get there, and a deadline." Episode references: The Complete Guide to Money by Dave Ramsey: https://www.amazon.com/Complete-Guide-Money-Dave-Ramsey/dp/1937077209 The Total Money Makeover by Dave Ramsey: https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277 Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:23.3	like you sign up for your one dollar a month trial at shopify dot com slash setup this is optimal
0:31.8	finance daily how to complete your very first spending audit part two 2 by Amanda Brownlow of hellobrownlow.com.
0:40.5	Number five, review your everyday spending. Now for the fun part, joking. Get a clean sheet of paper
0:48.2	or a new page in your spreadsheet. Make several categories at the top. Groceries, eating out, shopping, gas, and home. Now,
0:57.5	read through each and every transaction and put it into the categories you made. If you need to
1:02.6	expand categories or make new ones, that's totally cool. You need to know exactly what you spend
1:07.8	money on. When you're doing this spending audit, it may be helpful
1:11.6	to write down the store name or what the item was next to the amount. It isn't necessary,
1:16.6	but it can help you see what stores you spend the most money at.
1:20.6	Number 5.5. Cash-only exceptions.
1:24.6	We use the cash envelope system for a long while. The key is that you, one,
1:30.5	had a set and limited amount of money in a category each month, and two, you kept track of
1:35.9	transactions on a ledger. If you are without a budget, you may not know how much cash you're spending.
1:42.3	Check your bank statements for ATM withdrawals,
1:45.4	teller withdrawals, and check deposits where you may have received cash back. Most banks have a
1:51.1	deposit slip available for viewing in online banking. If you don't have a bank account,
1:56.7	which you need to set up one ASAP, review your paychecks. Do you have any of that money left in your wallet?
2:03.6	Another way to get cash is at any store
2:05.7	when you use your debit card with your PIN number.
2:08.4	If you have receipts, total up the cash back you received
2:11.2	during those visits.
	...

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