How to Track Your Spending and Stay on Top of Your Financial Goals

We all have our own private financial goals, whether it’s saving up to buy something special or managing our monthly outgoings better. Whatever it is, it can sometimes feel like an uphill battle to break poor spending habits. Here are a few pieces of advice that can help make it easier and build a healthier relationship between you and your finances.


Generate passive income on the side.

If you feel like you never have enough money to see through the month, it might be wise to start doing more with the assets you have. Investing your money in stocks can seem like something that only big-shot bankers do, but it can work for anyone so long as you play your cards right and don’t take any risks that you can’t handle.

The mentality of ‘Buy Low, Sell High‘ will work for any would-be investor in the long run. The stock market is fickle, but so long as you don’t invest any money that you can’t stand to lose, then the good news is that eventually, you’ll learn to read the stock prices more easily.


Take a second look at your household bills.

People often feel stuck with the bills and monthly prices that they’ve had for years, but taking a second look and scouting out alternatives for essentials like internet costs to see if you can find a lower price is always a smart decision. Your current price might be giving you the fastest speed, for example, but do you need it? If you live alone and don’t stream a lot, you might be able to find cheap internet that suits your needs better. Of course, the cheapest option is not always a good thing, but it’s a good idea to know your options to see if you can get a better deal on your monthly rate.


Get organized.

You can’t fix your unruly spending if you don’t know what it is. There are many ways to keep track of your spending, but using a bullet journal has been shown to have a big impact. Its flexibility means you can add fresh expenses as and when you choose and truly customize it to your lifestyle and finances. It’s the best bet for anyone who likes to have control over their spending and a basic first step to take if you’re trying to switch up where your salary goes. Log all of your expenses, plan out where your savings can go, and see how much is leftover. You might find that you’re in even better shape than you thought!


Differentiate your goals.

There’s a big difference between short-term versus long-term goals when it comes to financing. Are you looking to save money to buy a big-ticket item? Do you just wish you had more money left over at the end of the month? Has there been a big expense recently that you need to pay off? All of these factors will influence how your financial planning goes, so have your goals clearly laid out.

It’s okay to have multiple goals as well but try to prioritize them so that you know where the bulk of your money will be going. It’s a good idea to not just have this sorted out in your head, but to actually put it on paper. This could be the first page in your financial bullet journal, for instance. Knowing what you’re aiming for can do a great deal for your personal motivation and will give you something concrete to focus on if you ever feel yourself slipping back into bad spending habits.

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