It’s an uncertain time we live in right now. With COVID-19 impacting nearly everything about day-to-day life, it’s more important than ever to track your money and make sure you make the most out of every cent. So how do you do that? We’ve got three tips to help get you started! Starting with:
Keep in mind, this step is crucial if you have the means to do it, but if you can’t right now, that’s okay. Ideally, you want to budget your expenses weekly and monthly. Hopefully, you already look at all your transactions in your Fancards Mobile app! That way, you can keep a close eye on your spending habits, and try to build in some cushion to save for a rainy day. Getting to the point where you are saving consistently is the ultimate goal!
2. Examine Recurring Expenses
One of the biggest “hidden” expenses to the average person’s monthly budget these days are recurring expenses and subscriptions. After all, it’s hard to remember to cancel that Netflix account when it automatically renews every month, right?
So take some time to look at your monthly transactions and see if there are any monthly subscriptions you could do without? Do you really use Amazon Prime enough to justify the monthly cost? Is that premium music service really worth it? Trimming back some of those recurring charges can save you hundreds of dollars per year!
3. Use Sub-Cards to Segment
Adding sub-cards to your Fancards account is a great way to help segment your spending by category! Once you have your primary Fancard, you can order up to 5 sub-cards connected to your account, and you can name them whatever you like. Maybe one card is named “groceries” and is only used at your local supermarket. Or perhaps you name one card after your child or dependent and track their expenses using that card. When used correctly, sub-cards give you and your entire family control and an even clearer picture of where your money is going.
Ready to start saving with your Fancard? Then click below to get started, and join the Fancard family!