Or try cutting back on one small, frequent expense, like takeaway food. Is there anything you would like to change? Find a quick winĬancel anything you don’t need, like a subscription or membership you’re no longer using. These are the things you could cut back on or live without for a while, to save money. Look at all your transactions and highlight what are 'needs' - essential items you need to live. You don't have to do everything at once - pick one spending habit to start with. Now you know where your money goes, making small changes can make a big difference. Ask yourself: Do I need this right now? Can I get it cheaper somewhere else? This helps you be in control of your spending choices. If you want to spend more mindfully, try taking a moment before you buy something. You often find that, just by being more aware of your spending, you can start to spend less. For example, account fees, subscriptions you don't use anymore, or mistaken transactions. It may surprise you how much small things can add up. Look at your spending habitsĪt the end of your tracking period, look at your recorded transactions to see where your money is going. To stay motivated, try tracking your spending with a partner or friend. Do it every dayĭon't worry about changing your spending habits straight away. Or keep receipts and do your tracking at the end of the day. Do this for both cash and card purchases as you spend. Record the amount, item (or store name) and date. You can also set spending limits and reminders, and see your expenses at a glance. Use a phone appĪn app is an easy way to track your spending at the time you spend. Access these transactions through your online banking or hard-copy statements. When you use a card or phone app to make a purchase, every transaction is recorded. Record what you spend Get transaction statements Tracking over a longer period gives you a more realistic picture. If you have some weeks or months with more expenses, commit to a 'financial fortnight' or 'money month'. Fortnightly or monthly for recurring expenses This way you can see all the money going out. Start small by recording your spending every day for at least a week. Choose how long to track One week for daily spending Track your spending and expensesįirst, get a clear view of where your money is going day to day. Knowing where your money goes can help you spend less and save more. Tracking your spending is a way to take control of your money.

How to keep on track with bills