Personal finance blogger Mrs Micah is challenging her readers to manually track their spending throughout the month of February in her “Where’s My Money Going Month“.
The purpose of this month is to make you aware of your spending habits and patterns. Using financial software to keep an eye on your spending and even following a budget isnâ€™t the same as being really aware of where your money is going and evaluating whether or not you like where itâ€™s going. Staying with the same budget year after year may keep you from thinking creatively about your financial life.
I’ll be taking part too, as I’ve been successfully tracking my own spending using Expensr for a few months now, but I’m interested in finding out how other people do it and what Â techniques or tools are out there to make it easier.
Knowing where your money is going is a key part of being able to stick to a budget and save money, but as it can be a little tricky to do, many people lose track of where their money is going. Hopefully this challenge will help to educate a few more people to find out where all their money goes.
If you’d like to learn more about your spending habits, go and join the challenge.
- HSBC Launches “Connected Money” App (May 9, 2018)
- NatWest “Mimo” – New Personal Finance App Trialled (March 31, 2019)
- Banking Apps “Save Brits Average of Â£173 a Month” (April 13, 2021)
- Budgeting Apps “Lead To Overspending” (January 13, 2021)
- Revolut launches smart Subscriptions feature (October 6, 2020)