Take about 30 minutes each month to review your expenses. The fewer obstacles you put between you and the habit (expense tracking) you’re trying to form, the easier it is to form that habit. Whatever method you choose, make sure it’s easy and convenient for you to record your expenses. And both you and your partner/best friend are upping your personal finance game together. This way, you have someone to help you stay accountable. You can rope in your best friend or your partner and turn expense tracking into a group effort.
If it’s a recurring problem, find creative ways to help you stay on track. This app hasn’t been updated since 2013Īt first, you might keep forgetting to record your spending, especially if you’ve never done it before. Personally, I use an expense tracker app on my phone since 2013. If you’re old school, you can jot your expenses down in a Buku 555. Or, you can set a reminder on your phone to record your expenses into an Excel sheet at the end of your day. You can use an expense tracking app and add your expenses as you spend money throughout the day.
If you want to get serious about your money, you need to know what you’re spending your money on. Get into the habit of recording down all the expenses you make in a day on food, rent, transportation, clothing, hobbies, entertainment and so on. Here’s how you can start tracking your expenses. Once you’ve developed the habit of expense tracking, the rest will fall in place later. You don’t need to do anything else besides tracking your spending when you first embark on your financial journey.
Track daily expenses how to#
If you don’t know how to start, I suggest starting small and living by these 3 words: Yet, the first hurdle people face on their financial journey is the very act of getting started.Ĭonfronting your financial reality for the first time can feel intimidating but just like pulling off a band-aid, the quicker you do it, the less pain you’ll feel in the future. We all want to know how to manage our money well.
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