See what things you might have at home that could deliver you cost savings later on.
We spend in excess of $640 billion dollars each year. $8 billion is spent on beauty, $9.5 billion on gadgets and $12 billion on meat each year.*
These are big numbers, so how much do you spend each day? Do you know? Most of us don't, however there is an app which can help you track it all. TrackMySPEND
Awareness of spending is key to saving. It doesn't matter how much or little you earn, it's what you do with it that counts. If you don't know what you are spending it on, how will you how much you can save?
Use TrackMySPEND to record the following types of expenses:
- Your weekly household budget
- Costs for special events like weddings or celebrations
- Work or travel expenses
- Coffees, lunches and any other cash expenses that you find hard to record
TrackMySPEND allows you to:
- Nominate a spending limit (per week, fortnight, month or year) and track your progress
- Separate 'needs' and 'wants' to identify opportunities to save
- Create 'favourites' so you can track frequent expenses
- View your expense history
- Add 'tags' to categorise expenses and set spending limits for each category
- Create expense reminders sent as text messages to your phone
- Auto-fill expenses based on past entries
Understand how much you spend every day and tracking whether the spend is on a need or a want will change the way you think of money.
Give it a go, start with committing to recording what you spend for one month. We would love to hear how it goes.
*reference: www.moneysmart.gov.au
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