e Cent Tracker

Cosmopolitan (South Africa) - - MONEY -

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)

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