“It’s never too late start improving your financial habits – start today, and know that your past mistakes have helped to make you a better person. Many others have done it and so can you. Think about how sweet those margaritas will taste on the beach in Miami many years from now.”
Record your expenses
The first step to saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip. Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Consider using your credit card or bank statements to help you with this. Bank of America clients can use the Spending & Budgeting tool, which automatically categorizes your transactions for easier budgeting in the mobile app or online.