What is the first step toward determining how much you can save?

Question

What is the first step toward determining how much you can save?

put 15% of your income into savings

stop all spending for one month

track your expenses for a set period of time

use your debit card for all purchases

Answer 1

The first step toward determining how much you can save is to track your expenses for a set period of time. By doing this, you will be able to see where your money is going and identify areas where you can potentially cut back in order to save more.