Do you agree that managing your finances is helping you get better sleep? Well, it may not sound like something you would directly link but it is.

If you know that your money is safe, spent well, earned with passion and well managed than you will worry less about that which contributes to a better sleep.

There are many ways on how to end up with more net income, here I have selected for you 3 of them:

• Save more
• Review your expenses
• Daily tracking

Save more

Do you know how much percent of your income you send to your savings account once you receive it? Is that 5, 10 or perhaps 20%? And could it be more?

If you know the answer to the first question then I am pretty sure that you will answer the third question positively. Why? Because people who know how much they save also are more likely to know how much more they can save. This does not mean that they are already doing but they are on a very good way to know that because they are aware of how much they save and you know that “awareness” is the key here. Let’s do a bit of visualisation about that. For example, you have answered that 10% goes to your savings account. Before you close your eyes, think about what you can do with an extra 5%? What are the investments, goods, services in the future that you can buy? Or who can you help more? Your family, friends, charities etc. You have already saved 10% so saving 5% more sounds possible for you, doesn't it? Allow yourself to open up for new possibilities. Now close your eyes and let your subconscious mind help you to get there!

Review your expenses

Big changes in our lives are usually when many of us review our finances. For me it was a loss of the job, being promoted at work, moving to another country, changing a flat where I lived and being in a relationship. What if you do not wait for these changes and do the expenses review on the regular basis? If you have money goals, reviewing your expenses on a regular basis, for example monthly, will help you not only to get closer to your goals but it will also help you know how much you spend on what and when which is critical for you to decide where you can make changes. For example reviewing your bank statement monthly is a good way to spot any transfer fees or charges that look very “innocent” because they are very small but over a month or year may lead to a substantial sum. Once you start, you will be amazed (at least I was) how much I was able to cut electricity for example and this money I used to donate to charity.

Daily tracking

While reviewing your expenses is a more mid-term to long-term task, daily tracking, as the name states, is done every day. And whether it is a chocolate bar, new chair or an insurance you pay, daily tracking gets you into a habit of recording how much you have spent and received which will add up to the monthly spent and annual balance. I would like to keep assets, liabilities and cash flow to other experts to explain if you like you explore more about these terms afterwards. The point I am making is that because we live an intensive life (I am trying not to use the “busy” buzz word because really, who isn’t?) and we live in the world where most of the transactions are done online using our smartphones, it is easy for us to lose track of when the payment was made and what has landed on our bank account. You can use a mobile app which I found quite easy to use, an XLS spreadsheet or a pen and paper.

I believe you can see that I am not asking you to make major changes in your budget but to make small changes step by step. You may have heard a saying from Tony Robbins, one of my favourite motivational speakers, “energy flows where attention goes”. And this matters even more with your money because money is a form of energy. Happy saving, tracking and reviewing for your dreams to come true!

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