Track your Expenses

Did you know that tracking your daily expenses will help you save a lot of money?  Knowing where your money is going is the only way for you to take control of your finances.


Get a notebook and write down all the things that you will be spending for the next 30 days.  You need to write down all your cash expenses, even small purchases like candies, tips and sticks of cigarettes.  There are several apps available online that you can download for free to make your tracking easier.

At the end of 30 days, summarise your expenses under major categories such as housing, bills and utilities, education, transportation, food, shopping, recreation, debt payments, etc.  You will then have an idea on your spending pattern.  You will also have a brief overview on what percentage of your income goes to unnecessary expenses.

Then use this data, to create your monthly budget.  If your spending is more than your earning, you need to experiment and see what items you can reduce or cut down totally from your budget.  Remember, your monthly income minus expenses should always be greater than or equal to zero.

Good luck!


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