CFO Corner Week 1: Where Did Your Money Go Last Month?

liveyourmoneystyle
2 days ago
4 min read

Welcome to CFO Corner, your new 10-minute weekly money check-in! This is Week 1, and we're starting at the very beginning: awareness.

In January, we're focusing on understanding where you are right now so you can make better decisions moving forward. And this week, we're tackling the simplest, most important question: Where did your money actually go last month?

Most people have no idea what they spent last month. You know you bought groceries and paid your bills, but could you tell someone within a couple hundred dollars what you actually spent? If not, you're not alone—and that's exactly why we're starting here.

This episode is designed to be done in real time. Meghan walks you through the exact steps to track your December spending in less than 10 minutes. No judgment, no guilt—just the data you need to build awareness and make intentional choices.

Why This Week's CFO Action Matters

The Foundation of Everything: You can't improve what you're not tracking, and you can't track what you're not looking at. If you don't know where your money is going, you can't make intentional decisions about where you WANT it to go.

This Is About Awareness, Not Judgment: We're not here to make you feel bad about your spending. We're here to help you see what's real so you can make better choices moving forward. The data is just information—what you do with it is up to you.

The Action Step (Do This Now!)

Meghan wants you to actually DO this while listening to the episode or set up a time to complete it TODAY. That's the whole point of CFO Corner—taking action together in real time.

Step 1: Gather Your Statements

Grab your phone or laptop right now:

Log into your bank account
Download or pull up your December statement
If you use multiple bank accounts, get all of them
Do the same for any credit cards you used in December
If you use cash regularly, estimate what you spent (doesn't have to be perfect)

Pause the episode if you need to gather everything, then hit play once you're ready.

Step 2: Add It All Up

Look at the total spent from each account:

Your bank account might show "total debits" or "money out"
Your credit card will show your purchases for the month
Write these numbers down or keep them in your head
Add them all together

That's your total spending for December.

Step 3: Notice Your Reaction

How do you feel seeing that number?

Are you surprised?
Relieved?
A little stressed?

That feeling is information. Just notice it. We're not fixing anything today—we're just seeing what's real.

Step 4: Look at the Categories

Now scroll through your transactions. You don't need to categorize everything perfectly, but just notice:

Where did most of your money go? (Groceries? Restaurants? Target? Amazon?)
Are there any charges you forgot about?
Any subscriptions you didn't realize you were still paying for?
Any surprise expenses that hit in December?

Step 5: Decide on One Action

Based on what you just saw, is there ONE thing you want to adjust this month?

Maybe it's:

Canceling a subscription you're not using
Being more mindful about gift purchases
Setting a budget for one specific category
Nothing—maybe everything looks good and you just wanted the awareness

Whatever it is, just pick one thing. That's it.

Next Steps & Resources

You Just Completed Your First CFO Corner Action! You now know what you spent in

December. That's huge. Here's what happens next:

If You Already Have a Budget: Compare your December spending to your budget:

Did you stick to it?
Where did you go over?
Where did you have room?

That's valuable information for this month's planning.

If You DON'T Have a Budget Yet: That's totally fine! We have a Free 50/30/20 Budget Builder Guide. It's super simple and will help you create a realistic spending plan that actually works for your life.

Want to Go Deeper? Check out our Free 5-Day Expense Reset Challenge. The last time Meghan did this challenge, she found over $900 in expenses she could cut or optimize. It's a game-changer for finding hidden money leaks.

The Most Important Thing to Remember: You don't have to do everything at once. You don't have to fix everything today. You just tracked your spending. That's the win.

What's Coming Next Week

CFO Corner Week 2: Calculate Your Net Worth

It sounds intimidating, but Meghan promises it's not. It's just another piece of awareness that tells you where you're starting from. You'll know exactly where you stand financially—assets, debts, and everything in between.