People going about their routines (They make their purchases and expenses)
People going about their routines
They make their purchases and expenses
They mentally note all expenses and purchases
Regular recording of expenses
Designates time/date for noting and tallying expenses
Postpones this as they have physical notes
Inaccurate interpretation of the noted data due to the time gap.
Postpones the activity as they are exhausted. Moreover, they believe that they have all the information in their mind
They feel lazy every time, the thought of tallying crosses their minds
Discrepancies arise in the data when they finally tally their expenses.
Leading to inaccurate data.
Have the slightest idea how certain expenses have panned out
1 more item...
Collects all expenditure and purchase related artefacts like bills, bank statements, card transaction receipts, net banking etc.
Feels overwhelmed by the big pile of raw data on the day designated.
A small breather is realised when all online and bank related expenses are received as organised statements.
Tallies this data first as the other data has to still be organised.
Softwares like excel are used to organise and compile both the data sets.
1 more item...
They realise that the purchase will impact the expenditure and budget
When the purchase is expensive, they panic and tell themselves that it is a one time expense.
The make new plans and strategies to save more money in the next time period.
They realise that the consequences are thus avoided.
Continue with the same mindset.
Make physical notes