One of the first questions I ask new clients is how much they spend in a year. There’s nearly always a look of panic. Most people don’t know what they’re spending. They try to budget by ensuring they don’t spend more than they earn.

It’s a good exercise to review what you spent in the last year. All you need to do is review credit card statements and bank statements, and record the payments in different expense categories. It generally turns out to be a sobering experience.

While this won’t provide a perfect record of where you’re spending your money, it’s a good indication of where the money is going. Having gone through this exercise, you should budget your expenses for the next year.

Furthermore, if you need to Send money to Colombia from the United States, you can do it in-store, online, or using the MoneyGram mobile app, which is available on the App Store and Google Play.

It’s a simple tip, but relevant to everyone!