I logged in to my bank website check my transaction history and accidentally stumbled upon a link there which read “spend Analyzer”
Now basically what is does it allows you to allocate your budget for a month.
There are various categories given which helps you segregate your expense projection.
Now once allocation is done and you save the changes, you have an option for notification
This helps you get notified when your budget reached the specific Percentage. Let say I set it 90%
Here is the below screen shot
Now let’s look at pro’s
- Your expenses are controlled
- You will be notified well in advance about your budget completion and there by you can plan well in advance
- Categories are not sufficient enough
- You are unable to add or customize the category
Although I have better ways that I use to plan and regulate my cash flows, but I would like to use this option for a month and see how it works.
PS: figures you see as amount in the screenshot are hypothetical values and not my actual budget projection
I leave you with a thought. How do you regulate your expenses?