Part 8/14:
Tracking expenses is vital, yet many find spreadsheets tedious or intimidating. Fortunately, modern banking apps often categorize spending, providing valuable insights without extensive manual effort. The key is to monitor whether you're saving at least a minimum percentage—commonly suggested as 10%—and adjust spending accordingly. Viewing budgeting as a liberating rather than restrictive process can motivate better financial habits.
For those seeking simple tools, the speaker offers a basic Excel template that can be used to track spending and remaining funds in real-time, fostering awareness and control.