Tuesday, October 27, 2015

Do You Know Where You Have Spent Your Salary?

Do you know where you spent your salary?
Do you know where you have spent you salary? Or you are one of those who, after a week of receiving your salary, exclaims: "Hala! Ubos na ang sweldo ko?! Saan napunta pera ko?"

Then you would start thinking, what you have bought in the past week and how you spent on that night-out after getting your salary.

Do You Know Where You Have Spent Your Salary?

Alam mo ba kung saan napunta sahod mo? For sure it did not vanish in the thin air like a bubble. The thing is you just forgot where you have spent all your money. Maybe you had too much fun on a night out the day you received your salary;  Bought a new pair of signature jeans; Or you bought the latest gadget off Lazada.

Most probably, you are just one of the many who does not keep track of their expenses.  I was once like that too. I lang araw pa bago ang susunod na sahod, ubos na ang pera ko at hindi ko alam kung saan napunta. As a result I end up buying my meals for the next few days on credit! Utang sa suking kainan! If left unchecked, you will end up buried in debts.

Do You Keep Track Of Your Expenses?

If you don't know where you have spent most of your salary, then definitely you don't keep track of your expenses.

Do you need to keep track of your expenses? YES! You need to keep track of your expenses!  
Why?  If you don't, month after after month you will end up with ZERO balance in your bank account, worse you will find your self heavily buried in debts. 

How To Keep Track of Your Expenses?

It's simple really. There are several ways to keep track of your expenses.
  1. Use a small notebook that you can carry with you in your pocket or purse, or bag.
  2. Use a mobile app. There are tons of great mobile apps for this. Here's what I use: Expense Tracker App (for Android only)
  3. Use a spreadsheet and make sure you update it everyday. Here a template of the spreadsheet that I have created for you: Expense Tracker Template
Whatever method you use, make sure you will diligently update it everyday. Don't worry if you miss some days when you start doing this. It would take some practice. Soon, it will become a habit of yours. 

Note: This is just the first step so you can start saving money

Start saving now and make your dreams come true!