Where does all the money go? If you are like most people, your month lasts significantly longer than your money? You may write up a budget, but month after month you are left with little, or nothing to sock away in the savings account you keep promising yourself you will start.

The only way to figure out where the money goes is to keep track of every single expenditure you make for one month – everything from your Tim Hortons coffee to that charity donation you made at the door last night. Pennies add up to dollars quickly, so don’t miss anything. If your child needs $10 for school activities, write it down. If you buy a pack of cigarettes, write it down.

Keeping track may be a pain, but it is well worth it. At month’s end you will shocked at what you discover and how little you have to show for dollars that simply dribbled out of your wallet.

Here are some other helpful ways to stop the flow of money out of your wallet:

• Don’t buy on impulse
  Resist the temptation to buy items you have not budgeted for. You can always add the item to next month’s budget.

• Cut back on treats that are now costly habits
  Do you treat yourself to a special coffee on the way to work each day? If you do, that $5 coffee will quickly add up to $25 per week or $1300 per year. That’s a full $108 that simply disappears from your account each month.

• Avoid extra features
  Sure, sign me up. How often have you uttered those words for a few extra channels or a phone feature you could easily live without. Review your bills and evaluate whether you truly need some of the extra features you are paying for each month.

• Go back to cash
  Leave the credit card and debit card at home and it will be much easier to resist temptation. There is something about paying with cash that makes purchases seem more real, especially for day to day expenditures. Put yourself on an allowance and pay that allowance at the beginning of the week in cash – when you run out of cash – stop spending.

• Cut back on entertainment
  Few people budget for entertainment although it can eat away a huge percentage of any budget. Today, with video rentals at $5 each and movies averaging $10, it is easy to see where the money goes. Many families spend as much as $80 on videos and games each month – almost $1,000 each year. Why not tape some favorite movies or borrow a tape from friends? Check out your local video store for pre-viewed (used) videos for sale – often they can be purchased for less that the original rental fees!

• Ease up on the magazines and books
  The new mega book stores have made buying books and magazines so easy - they carry an excellent selection and are great places to shop. But hey, remember the public library? It is still there. There is perhaps no better place to share you love of reading with your children than at the public library - and no place that is as affordable.

• Don’t go shopping unless you really need to
  Malls are filled with temptation – items that you suddenly must have although you had no idea they existed just one hour ago. Shop when you really need to, go with a list, and use cash. Avoid shopping as a form of entertainment.

There is an old saying; ‘Look after your pennies and the dollars will look after themselves’. While building your family’s financial security is not quite that simple – controlling your dollar dribbling is a great way to begin regaining control of your finances.