Dear readers, I have been tracking my expenditures on a daily basis since National Service Days.
I did my tracking conveniently via an excel spreadsheet, which with its functions allows me to track my expenditures across different categories of spending that I have assigned.
While the expenditure tracking spreadsheet is useful, what the most important metric is on the spreadsheet is none other than the Savings.
After the cost of living and inflation here has increased, I am mindful from my spending spreadsheet that my expenditures have headed north and in turn, my savings have headed south.
The largest category which I spend the most is on meals, for myself and family. I am of the view that spending on meals may be the biggest ticket item of spending for many of us.
It is inevitable. Many of us are working and price of meals outside is not cheap and on weekends, if we want to splurge on ourselves and families a little more on meals, the expenditure is even more.
So, if you would like to increase your savings, perhaps look at how you spend your monies on meals. See how you can reduce your discretionary expenses when comes to meals, like that coffee, that bubble-tea, that little snack.
Please track your daily expenditures if you would like to save more. This is because we cannot measure what we do not track.