Benefits of habit “Set your daily spending limit”

✓ Helps save money
✓ Reduces chances of impulse purchases
✓ Improves financial situation
✓ Improves financial management skills
✓ Helps in always having money for the bills

First step:

Set 1 day’s spending limit


1. Today, count the money you know you will have to spend at the end of the month and see how much you have left over. Set your daily spending limit based on what you have left.
2. Next month, do the same, adding the money you have left over from the previous month.
3. Keep it up until it becomes a habit you do after payday.

Helpful tips to make it a habit:

✓ Same time is key. Always do your finance planning immediately after the paycheck. That way, you will be in total control of your finances.
✓ Trigger your mind. Do your planning on a notebook and always keep it somewhere close by so you can see it.
✓ Let the app help. Set a reminder on this app to ring when it’s time to do the counting.
✓ Reward yourself. Once you’ve gone couple of months (or weeks based on your salary schedule) of successfully using daily spending limit, reward yourself by counting the money you’ve saved via this method and open a savings account. Now you will be able to regularly deposit into it.

Tips for beginners:

✓ Set a realistic limit. When you think about your spending limit, try setting a realistic one. Take all your daily spending into account, travel costs, food, drink, groceries, etc. See what you can reduce and what absolutely needs to stay on. Don’t judge yourself, simply have realistic expectations of what you absolutely need and what you can live without.
✓ Track your impulses. Most money is spent on large impulse purchases. Try to see when this impulse triggers for you. Games, clothes, food – whatever it is that triggers it, keep it in mind when you’re near those items and try to control yourself. You now how spending limit after all and you wouldn’t want to waste it on this impulse.