How do I know if my spending is still within budget?
Here at Build My Wealth, we don’t only promote zero-based budgeting — we also advise you to implement that budget in real life.
This means once your income arrives, we suggest that you follow your budget plan and divide the actual money into different bank accounts and/or cash envelopes.
This system allows you to easily determine whether or not you’re still within budget, without tracking daily expenses.
How?
It’s simple. Check your account balance.
If you're doing the cash envelope system, check how much money remains in each envelope.
If you're using several bank accounts, check the balance of each. We recommend you register for online banking to make this step easier.
Some review their account balances every two weeks. Some prefer to do it once a month. You can use the Accounts tab in the Build My Wealth app to keep track of all your balances.
