We have learned the importance of good record keeping as being the key to managing expenses. In our final installment, we provide you with tips on how to keep track of your expenses with the Transaction Register.
Managing your Account with Transaction Register
- Before you write a cheque or make a deposit, fill out your register. Always describe the source or use of your money.
- When you use the ATM, record the transaction in your register.
- Keep your balance up to date to prevent spending more than you have available.
Click here to watch a video on how to track expenses.
This may seem very basic to some however the majority of people are not doing it and are having trouble figuring out where all their money is going. So go ask your financial institution for a transaction register and start recording today!