An American Problem?
I need to talk to you about an endemic problem afflicting many Americans…. the problem associated with tracking money. No, I am not talking about tracking money that finances terrorism or organized crime. I am talking about the need to track your money.
When I first published this article back in 2017, I cited an April 2014 Business Insider article that reported 61% of US adults did not track their money. That was only six years after the financial meltdown of 2008. At the time I thought that was pretty damning, but not surprising. Fast forward to 2025, after the post-COVID cost of living crisis, and those numbers reversed. A May 2025 report from Secure Data Recovery showed that 59% of Americans tracked their spending and 49% tracked savings. That’s a healthy turnaround, but it came with a kicker. Apparently 70% of the people who tracked their spending said it caused them stress.
As someone who has tracked their money religiously for the past 26 years, I can attest it takes time and discipline, which in and of itself can be stressful. I can also attest that sometimes the results don’t show what you want, which again may prove stress inducing. But that’s no reason for not partaking in the effort, though. I say that because I firmly believe that the insight gained from tracking your money is like a personal finance superpower.
