My 24-year-old son recently asked me to download healthifyme app where I note down my daily meals and calorie intake as well as exercise and calorie burning schedule. The app also counts daily steps that I take so that I can complete the 10,000 steps target every day (Well, at least I try too).
The first step to managing your daily expenses is almost similar. Unless you know what’s eating into your income, you are clueless on how to manage your money. Here is how you can do it:
(1) Track your spends: You can use expense management apps which automatically detects all your expenses done through netbanking, debit card and credit cards. Moreover, it also automatically classifies these expenses into various categories such as shopping, food and drinks, transportation and recreation, which makes it easier for the user to view their expenses in each category. A simple glance helps you figure out your major spends. It displays them in the form of a pie chart, so even a non-finance person can easily understand it. This can help you analyse which areas need attention and reduce those expenses the next day or week.
