If you have you are not alone. There are thousands of people who find themselves looking at their bank statements or calling their banks and asking this same exact question.

The problem is two fold. By this I mean, as consumers it is our money so it is our duty to keep track of our finances not the banks or anyone else. Most people lack the knowledge to understand that we as consumer should not be calling the bank to ask this question, we should already know the answer.

Let's discuss this a little deeper...

Why is it that most people don't keep track of their finances? Some of the top 'excuses' I hear are:

1. Lack of time

2. "Forgetfullness"

3. Don't know!

Lack of Time

Today it is not unheard of for people to complain about not having enough time in a day to do all of things we have to do. Between soccer practice, doctor's appointments, and helping with homework and all of the other things we have to do in any given day it is no wonder we don't have the time to do the simple things.

Keeping track of your account is really a simple task if you learn how to do it the right way.

The ironic thing about all of this is that the banks GIVE you the tools you need to effectively manage your accounts. But majority of use fail to even use a fraction of those tools.

For example, most banks offer some sort of online banking option. This option makes it easy for you to monitor your banking transactions from anywhere with an internet connection. You can also perform some basic maintenance task without ever having to call your bank.

What makes this such a great tool is that it is available 24 hours a day. So after you have had a chance to put the kids to bed and settled down you could balance your daily expenses using this helpful tool.

Note:

It is important to note here that any of the tools that the bank put at your disposal are just that... tools! They are not there to keep track of your account for you. That is your job.

Forgetfulness!

Let's face it with all that is going on in our days how can we remember every single thing that we buy in a day. It is inevitable that we will forget something and that is one of the reasons that we find ourselves scratching our heads and asking the question "What Happend To My Money?"

Creating a system that allows for you to keep on schedule but at the same time keeping accurate records of your daily expenses is crucial.

Depending on your lifestyle you should examine your daily routines and find a way and/or time when you can track what it you spend your money on day in and day out.

Don't Know

This one comes down to complete and total laziness. It just couldn't be said any other way.

People get lazy. It is easier to not do it and expect someone else to do it than it is to take an interest in where your money is going every single day.

It goes without saying that being lazy almost always leads to more troubles. By not taking OWNERSHIP of YOUR finances you are leaving it in the hands of strangers.

My dear sweet Grandma used to say "If you want something done right... do it yourself!"

If that ain't about right!

If you want to change your life financially you have to know where to start making changes. That simply cannot be done if you don't already know where your money is going now!

Well now that we have covered some of the more common reasons most people don't keep track of their finances what are some solutions?

1. Hire an accountant

2. Get off your lazy butt and do it.

3. Let things continue the way they are. (Not Recommended)

Take your pick. I suggest option #2.