Cash Comb

We’ve gone through all the main culprits for overspending at this stage, but every teacher and every business is unique. So it’s time for you to take out the fine-tooth comb.

  • Download a bank statement for the last full year. If you use more than one account for business expenses (e.g. bank and PayPal), download both and combine them into one spreadsheet.
  • Sort the transactions so that the biggest expenditures are at the top.
  • Go line by line and highlight any rows with transactions that were unnecessary. If they are recurring subscriptions, cancel them immediately. If they are one-offs, make a note of each unnecessary expense on a piece of paper.

You may find this process a little uncomfortable and/or boring. Stick with it. You only need to do this once a year, and it could save you a great deal of money while making you a more careful spender in the long run.