Often feeling broke and wondering why? It’s not always about your wage or income – often it’s about a pesky thing we call “financial leaks.” Yes, that constant little drip that you have been trying to ignore can actually fill a big bucket.
Financial leaks are the areas of expenditure where you are losing money that you possibly don’t need to, and perhaps you are not aware of.
Often it just feels like we don’t have enough time to fix the smaller financial issues but by setting aside some small batches of time to pay attention to your expenses you can uncover some interesting spending habits and opportunities for improvement to your finances. It really will pay off in the long run.

Our financial planners often have these discussions with clients and they believe the best starting point is to begin mapping your expenses in a budget planner.

Moneysmart has an awesome online tool to help you map your expenses. It covers everything from home & utilities to groceries, entertainment, transport and more. You can track it from a weekly, fortnightly, monthly, quarterly or yearly perspective and you don’t need to fill everything out at once. Once you have started tracking a few expenses, you can save it and come back to it, biting the project up into smaller easier tasks!
Once you’ve entered all your expenditure, the summary tab will give you a spending breakdown and a tracking of your income vs expenses which will greatly help to see where the drips are going and where you can possibly make some savings.

To start tracking, check out the moneysmart budget planner here.