How many times have you arrived at the end of the month and your bank account looks like it needs a serious hug? 

How many times have you wondered where your paycheck actually went? Or wished your paycheck would come through sooner because you’re cutting it close with your bills.

It can be a bit of a let down when you realise your finances are telling you a very different to the story you had in your head.

But you’re not alone. In a world where spending is just a matter of tapping a phone, it’s easy to lose track of how much you’re spending.

Which is why being on top of your expenses is all the more important.

1. You’ll get an objective view of your financial situation

The hardest thing about tracking expenses isn’t the time commitment or the numbers, it’s taking the brave step to actually look at your financial sitch.

It probably feels easier to just not look at your bank accounts, but the more you inform yourself about your money, the more you’ll get a clear picture of your financial situation. 

And being in control of your financial situation is what brings true ease.

2. You’ll spot ways to curb spending

Once you’re tracking where your money is going on the regular, you’ll start to notice patterns in your spending… and places where your money is leaking.

You might notice that you’re spending on subscriptions you barely use anymore (Amazon prime? Disney Plus? Random app you don’t even remember signing up for?), or maybe you’ll notice that when you go grocery shopping after work, you tend to buy more than you need because you’re hungrier.

These insights can be game changers in helping you achieve your financial goals, but you need to have an eye on your spending to pick them out.

3. You’ll actually be able to stick to a budget

A lot of the time, setting a budget starts with lofty statements. “From tomorrow, I’m going to stop buying lunch at work.” “This year I’m going to invest.” “No more Ubers!”

But time and time again, those budgets fall apart because we don’t know what we’re working with.

When you have an idea of your regular expenses, you can create a far more realistic budget for yourself, which means you’re far more likely to stick to it.

4. It can be way easier than you think

The days of spreadsheets and notebooks to track expenses are long gone. And frankly, most of us don’t have time for that either.

There are a number of automated budgeting tools that can take all of the hard work out of tracking your spending and saving.

For example, with the Flux Budgeting Tool, you’ll be able to securely connect your bank accounts and see where you’re spending your money, without having to do any of the tracking work yourself.

And if that’s not a good motivator to start tracking your spending…. well..errrr... we don’t know what will be!