22/10/2022
'I don't even know where's my salary go'
It's easy to overlook all of the tiny little "leaks" in your budget.
When you finally do check your bank balance, you may be surprised to see how low it is.
You don't have affluenza and aren't spending lavishly.
You aren't dining at the Ritz.
You aren't flying to Paris every year.
You don't drive a Mercedes-Benz.
So, where is all of your money going?
Learn where all your money goes, and fix budget leaks using our income tracker sheet!
Step 1: Check your account statements
First, you need to get a sense of your monthly cash flow.
Dig through all your bank account statements, e-wallet transaction histories, and bills/receipts, then note down every single thing that you’ve spent on.
Step 2: Categorise your expenses
Now that you know what you spend on, it’s time to group your expenses into categories.
Such as Fixed Expenses, Wants, Travel, shopping, subscriptions, Entertainment etc. These categories may come from your current lifestyle.
Step 3: Record your expenses
Tracking your expenses and budgeting go hand in hand.
Decide how you would like to record your expenses. Some people prefer to write it down with good old pen and paper, some prefer a spreadsheet, and many enjoy the convenience of an expense tracking app.
The important thing is to set a regular rhythm for tracking.
Whatever works for you, just as long as you record it.
Example of sheet that we sell online for you to use to track your expenses >> shorturl.at/ahkW8
Step 4: Continuously review your budget
With the data you collect from tracking your expenses, you should be able to spot patterns in your spending habits.
As you track, be ready to make room for adjustments in your budget.
Take the time every month to adjust next month’s budget as you gather more data, to make it work best for you.
Goodluck!
