At the Matt Gillespie Team, we believe that building a life you love in Pittsburgh starts with more than just finding the right home—it’s also about creating financial habits that support your goals. There’s a saying we love: “Whatever you measure, improves.” And when it comes to your money, that couldn’t be more true.
By tracking your finances, you gain clarity on where your dollars are going. That awareness helps you spend smarter, save more, and ultimately put yourself in a stronger position—whether that means paying down debt, planning for a dream vacation, or investing in your next home.
Why Tracking Is Easier Than Ever
Gone are the days of balancing checkbooks by hand. Today, most major banks offer built-in tracking tools right inside their online and mobile platforms. For those who want more advanced features—like syncing multiple accounts, generating detailed reports, or setting long-term savings goals—third-party apps can be a great option.
Getting Started: Know Where Your Money Goes
The first step is simple: review your account statements. Look for patterns in your spending and break them down into categories:
- Needs: groceries, utilities, mortgage payments, and minimum debt payments
- Wants: dining out, entertainment, shopping
- Savings/Debts: contributions to savings accounts, retirement funds, or extra debt payments
A popular guideline is the 50/30/20 budget rule:
- 50% of your income goes toward needs
- 30% toward wants
- 20% toward savings and debt repayment
This framework helps you see if your spending aligns with your priorities. And don’t forget to check for unused subscriptions or unnecessary fees—those small leaks can add up quickly.
Build a Budget That Works for You
Once you’ve identified your spending habits, create a budget. Some people love spreadsheets, while others prefer apps that make tracking automatic. The key is consistency: monitor your spending regularly and adjust as your income or expenses change.
The Payoff: Financial Freedom
Tracking your money isn’t just about numbers—it’s about peace of mind. Over time, this practice builds discipline, reduces debt, and accelerates your savings goals. Imagine the possibilities: retiring earlier, taking that long-awaited trip, or upgrading to a home that better fits your lifestyle here in Pittsburgh.
Final Thought
At the Matt Gillespie Team, we’re passionate about helping our neighbors not only find the right home but also thrive in it. Financial awareness is one of the best tools you can use to build stability and freedom. Start tracking today—you’ll be amazed at how quickly small changes can lead to big results.