e Cent Tracker
Instead of giving yourself a rigid spending limit, the Track Every Cent (TEC) system requires you to keep a meticulous record of every transaction that you make for at least two weeks. Here’s how it works:
1 RECORD every transaction you make, down to the last cent. Log them in the Notes app on your phone, collect receipts or put everything into a spreadsheet or Word doc. This strategy works only if you’re diligent, so reserve at least 20 minutes at the end of each day to make it happen.
2 TRACK your expenses by date, item and cost, with the total sum at the bottom that shows how much you’ve spent to date. You can even break it down by category, such as money spent on food, bills, pets, clothes and entertainment.
3 CHECK in with your goals. You might be shocked by what you’re spending your money on – like bottled water, for instance. Just carrying around a reusable bottle could add back a decent chunk of change to your budget.
Adapted from Broke Millennial by Erin Lowry (R198 at Takealot)