Answer:
Keeping track of how much money you spend on items like food, gas, and going out each week is important for several reasons:
1. **Budgeting**: By tracking your expenses, you can create a budget that fits your income. This helps you avoid overspending and falling into debt.
2. **Financial Goals**: If you have financial goals, such as saving for a vacation, a new car, or retirement, tracking your spending can help you see where you can cut back to save more.
3. **Understanding Spending Habits**: Tracking your spending can help you understand your habits. You might discover you're spending more than you thought on certain items or activities, which can help you make informed decisions about where to cut back.
Step-by-step explanation: