BouncyPenguin

Controlling expenses

Is there any app which can literally block any of my payment if I'm past my budget?

I spent ₹1.4L this month (which includes sending money to parents and helping in some house renovation) and I'm hating myself now for it.

While it was kinda unavoidable, I feel I should have managed the outflow better and do things in chunks, and should have just invested the money. It is such a conflicting and confusing feeling which is recurring back after I noticed it.

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QuirkyWalrus

Stealth11d

I'd recommend axio, it will automatically track your expenses and give you notification on your spend daily. Having that might help.

GroovyMuffin

Axtria11d

I tried it few months ago, it reads messages incorrectly. For example when my salary comes, I transfer some money to other accounts, it will also count as expense. I think best way for OP would be to notedown all his monthly expenses in excel + keep some more amount for jeb kharch and put rest into other account or create RD.

FloatingBurrito

NPCI11d

You can change the tags, and the system will change the tags automatically next time for the same account. It's pretty good I've been using axio for more than 5 years now.

FuzzyBoba

Slice11d

Invest pehle kar lo - bacha hua kharch karo!
Itni apps ko track karne k liye ek or app chahiye hogi fir 🫠

BouncyPenguin

Oracle11d

Every 5th it is automated. But my bank account is also not empty for liquidity (auto sweep).

WobblyNugget

Oracle11d

I know an app. Its called "having the salary and expanse account separate and only filling the expanse account to a limited value".

BouncyPenguin

Oracle11d

I already do that and have 2 accounts. Most of the outflow is sending money. I probably need to learn to say no.

ZippyMochi

Stealth12d

Make it a habit to check your account balance every day or two. It is the best way imo, don't need to depend on apps.

BouncyPenguin

Oracle12d

True, thanks! I do check the BHIM spending section but not that regularly, I'll start doing that. I think for cc I can set a limit (it's cashback cc so I would lose money not using it...).

ZoomyMarshmallow

Oracle11d

I used to do this… but this got me stressed even more.

TwirlyBurrito

Navi Technologies11d

Try Navi Money Manager, atleast you can set spend goals per month if not completely blocking the payment.

BouncyPenguin

Oracle11d

Is it only for Navi? BHIM can likely do it too I think

TwirlyBurrito

Navi Technologies11d

Yes, it's only for Navi. It's built on top of Account aggregator and UPI data

QuirkyJellybean

Salesforce11d

Block all credit cards, when salary comes put 50% in savings and then start using rest of the money. Not other way around. No apps needed.

ZestyBiscuit

Oracle11d

Pen paper Write it down for a month. You will be surprised.

BouncyPenguin

Oracle11d

Good idea

JazzyBagel

PayTM11d

Fold.money

JazzyBagel

PayTM11d

It gives good tracking of all your money. But self control toh mere se bhi nhi hota hai 😅

JazzyBagel

PayTM11d

Try to reverse the way you use your money. Let the unavoidable part be investing and growing your money, sending money to parents, paying bills and groceries. The rest you can save in the bank or spend as you wish.

Investing should always have a goal added to it.

SillyRaccoon

Capgemini11d

The day you get salary invest a heavy Chunk (say more than 50 percentage) to any investment like Mutual Funds or Equity. And remaining only keep you for Expenses

BouncyPenguin

Oracle11d

I do that on 5th of month

SnoozyMochi

Amazon11d

Select 1 or 2 date of every month for all your investment. Transfer money to your parents. Do payments using UPI app and mention payment purpose in the comment. This will get you some idea about your monthly expenses