Little Expenses

Daily’s Mellow Saturdays

One of the reasons why we struggle to manage our finances is simply that we make it more difficult than it needs to be. Let’s consider what we have to contend with;

Multiple outgoings such as; going out at different times on different days, sometimes months apart. Various sources of income and sometimes not just a single one-off salary but two or more salaries when couples are living together. Several bank accounts i.e. one or more current accounts, plus supplementary and savings accounts. Different sources of debts such as mortgage, overdraft, auto loan and multiple credit cards. Let’s just agree that we all definitely need to make our financial lifestyle much better than what it is.

Trying to cut all these separate sources of financial information down to the bare minimum can make budgeting, saving and paying our bills immeasurably easier. The downside, of course, is the process to get to that magical point! Today I’d like to talk about the steps that can simplify our finances and make it easier than ever to stay on-top of our financial game. Here we go!

Money Trail

First things first! With so many different sources of data flowing around it’s almost inevitable that sooner or later we’re bound to make a few financial mistakes. We should begin by creating a single universal source of information. That way, we can only consult this one central point. It’s as simple as synchronizing our passwords!

Pare Down

Now that our money source is centralized, let’s see how we can minimize our transactions as well. Any Suggestions?

Settle Your Debts

There are four things every person has more of than they know; sins, debt, years and foes. The one (and perhaps only) man that sticks to us in adversity than a friend is a creditor. Start off by eliminating as much debt as possible by closing down debt accounts as the balances reach zero.

Bank Accounts

How many bank accounts do we really need? Let’s consider how many accounts we already have, and what we use them for. Also, we should consider closing down the dormant and unnecessary accounts so as to have less to trail in the future.


Are there monthly expenses which we could eliminate or combine, in order to have fewer transactions to trail? For instance, let’s say, ‘Sandy’ does a weekly grocery shopping, but, has an option of combining the grocery list and do a monthly shopping rather than doing little bits every week. She will have saved money in different forms such as, gas and value cost of the monthly list compared to the weekly one.

Develop A Plan

Become a believer of planning. By carefully assessing our outgoings over a number of months we can be able to assess how much we spend in different activities such as rent, utilities, groceries, gas etc. This will give us a roundup of how much we withdraw from our account. We can comfortably have the remaining amount transferred into savings and investments.

Beware of little expenses. A small leak will sink a great ship!”

-Benjamin Franklin

Automate Your Bills

As much as we possibly can, let’s make an effort to automate our financial house-keeping as much as possible. For instance, we could set up payments with our banks so that our rent, cell phone bills and utilities are all out automatically. We could also carry out an automated transfer of money into our savings at the very beginning of every month. This will work best because it save us time and energy to go to the bank. Also, we’ll not be tempted to impulsively spend any extra money since it will be transferred straight back out after pay day. It’s almost as though we never had that money to begin with.

”Don’t think of saving money as a punishment. Think of saving money as a lifestyle change and a means to freedom.”

­-Emily Stroud

Thanks As Always, Rekah

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