One of the biggest changes that I will be making to start 2018 off right financially is to track all of my purchases the moment that I make them. Previously, I was tracking all my purchases at the end of the week by looking at my online banking information, which made me miss a lot of my cash purchases.
Tracking your purchases allows you to make sure you’re staying on budget throughout the month. I feel guilty every time I log a purchase that forces me to go over my budget, which is a great deterrent for when you want to stay strict with your spending.
I use an app called Daily Budget, which is “so simple, you will actually use it.” It’s true! All you do is input how much income you get per pay period, your fixed expenses, a savings goal, and it shows you how much money you have to spend each month. This is given out to you on a daily basis, so every day you might earn another $10 to spend. It’s a great way to not only stay on budget, but to make sure you spread out your spending throughout the month.
The worst feeling is when you spend all of your budget in the first week of the month and then can’t spend again until the end of the month – it’s a feeling that will break the best of us and will cause you to go over budget almost every time.
By tracking your purchases, you can better stick to your budget and understand where your money goes. It’s a great way to identify problem areas of spending for yourself. If you’re looking for a place to start improving your finances for 2018, this is a great activity to start with!
Thanks for reading, eh!