3 Steps To Build A Habit of Tracking Your Finances

3 Steps To Build A Habit of Tracking Your Finances

So you want to bring order to your finances and life? The first step towards this is tracking your expenses.

The real reason why you need to track your expenses is to create financial awareness. or, put simply, to know where your money goes. And, why do you need to do that?

  • To identify your spending patterns and check if it matches your real priorities
  • To have enough information to find out what’s going wrong and help you make better decisions

How to Start Tracking on Wallet?

Tracking on Wallet is designed to use the least amount of your effort and time and to set you up for success. To really make a difference to your finances, you need to build a healthy habit of making note of where your money goes.

So here’s how you can build a habit of tracking using Wallet:

  1. Use Wallet everyday: Track all your cash transactions on Wallet as soon as you make payments. If you need a nudge to remember this, activate Smart Assistant. Or, pin Wallet’s awesome One-Click Tracking widget to your home screen and make a note of purchases with a single click on the go. Add in further details once you’re free. Wallet lets you choose when and how to track!
  2. Connect your bank to Wallet: To sync and automatically categorise your non-cash and online transactions, connect your bank to Wallet. Hassle-free, isn’t it?
  3. Find out your biggest spending category: Track all your transactions for a week to unlock valuable information about your finances. (We recommend two weeks, though!) Find your biggest spending category in Menu > Charts > Expense Structure. Now that you know where exactly your money is going, you’re in a better position to make better decisions about it.

Trust us, tracking will be an eye-opener for you. And, it is the first step towards living a richer life!

Don’t worry if you make a mistake or forget to track for a day. Because, what matters is to build the right habits.

Start living a richer life today!

Jan Muller
Founder of BudgetBakers

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