Purpose – This is a good way to find out where your money has been going in the past. It can also be a way to look at your utilities to follow patterns of use.
How to Use it – I’ve used the past electric bills to track when we use the most energy in the summer months so that I can adjust my spending plan. Also when you make changes to the way you keep the thermostat you can look in the past to see how your adjustment affected the most recent bill, but you’ll have to look at the price per kilowatt to really know how it changed.
Conclusion – This isn’t for everyone and in the big picture of becoming debt free this isn’t a very important piece, using and doing the spending plan is far more important. This can really be a useful tool if you spend a little bit of time going over past bills, you’ll get a better idea of where your money has actually gone. Once you get it set up and use it in conjunction with your spending plan it doesn’t take any time to use.