How to keep track of your income and expenses with SavePath

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Why save at all?

In addition to regular expenses like rent, groceries or loan payments, unexpected costs often arise in everyday family life, such as a broken washing machine or new clothes for a growing child. Many parents wish they could get by more easily on their income, without constantly feeling like the money just isn’t enough. That is why it is worth taking a closer look to get a better overview of your own finances. Because saving means more than just looking for bargains. It's about consciously planning and organizing your own finances, from housing and shopping to the car and leisure activities. This helps you avoid unpleasant surprises that cause not only financial strain but also unnecessary stress in everyday life. In the beginning, it often takes some effort to deal with your own finances. However, once you have created a simple overview and keep track of your regular expenses, you gain more confidence in making your daily spending decisions. In the end, responsibility for your own finances lies with each individual, and with it the possibility to make a change.

A woman keeps a household budget book to gain a better overview of her finances.

Keeping an eye on your finances

A mindful approach to managing your money begins with a household budget book that presents all income and expenses in a clear and organized way. It shows where spending occurs most often and where there’s potential to save. Since many expenses like grocery shopping occur regularly, a weekly update of your household budget book is better than a monthly one. This way, you keep everything in view and reliably track even the smaller expenses. If you regularly track your income and expenses, you’ll notice more quickly how your financial situation is changing. Sometimes, there’s more money left at the end of the month, or certain costs increase due to higher prices for housing, energy or food. A paper notebook and a pen are enough to quickly note down your expenses, whether you're at home or on the go. The key is to record everything in your household budget book and not forget any expenses. If you write down every expense by hand, you reflect more deeply on your finances than when quickly typing them into your smartphone. Of course, there are also plenty of apps and digital tools available to help with tracking your spending. Most of them require a little time to get used to. A simple notebook remains the easiest and most affordable way to get started immediately. Even small steps support better awareness and more mindful spending.

Handwriting or app

Digital tools are a helpful addition to handwriting, especially for those who enjoy working on their smartphone. But especially in the beginning, writing things down by hand helps you develop a better sense of your personal finances. If you stick with it consistently, you can always switch to an app later to analyze your data.

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What you spend money on

SavePath helps you stay on top of your finances each week by organizing your spending into three main categories: Head, Heart and Hand. Which category fits depends on the situation. Some expenses are necessary, others bring joy, and some are simply spontaneous.

Your money. Your choices. Your SavePath.

Spending money is easy. The real challenge is having something left at the end of the month. In a world full of endless offers, spontaneous purchases, and digital convenience, it's easy to lose track of our money. A single tap is all it takes, and we hardly notice our wallet getting lighter.It's not just the big expenses that throw us off balance. Even small amounts under ten dollars contribute to your account emptying faster than you think. SavePath gives you a simple way not just to track your spending, but to reflect on your decisions and habits. Why do you spend money on certain things? And which purchases do you tend to buy on impulse? SavePath isn’t just a budget book. It’s a tool that helps you actively engage with your money. It shows you what drives your spending, and how to handle your money more mindfully. SavePath breaks your spending into three simple categories: Head, Heart and Hand.

Head

Stands for essential and meaningful expenses, for example rent, home loan, student loan, electricity, groceries, heating costs, kindergarten fees, necessary repairs, children's clothing, mobile phone contract, internet connection and insurance.

Heart

Covers everything that brings you joy, including books, flowers, small gifts, a visit to the hairdresser, theater or cinema tickets, courses, decorative items, hobbies, skincare products, a visit to a restaurant, a family outing or a family vacation.

Hand

Describes expenses that occur spontaneously, for example out of frustration or boredom, triggered by special offers or promotions, the purchase of a new device without real need, as well as spending on unused apps.

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How much money do you have available

For a better overview of your finances, start by recording all income available to you that month in your budget book, for example your salary. Then list your fixed expenses, such as rent, insurance or loan payments. This gives you the budget available for everyday expenses such as groceries or repairs. Record each of these expenses in your budget book and assign it to the appropriate category: Head, Heart or Hand.

Household budget book table with income entries by date and category.

Regular and occasional income

Regular income includes everything that is credited to your account, such as salaries, maintenance payments, government benefits or earnings from side jobs. This gives you a clear picture of how much money is available to you in the current month. Record your regular income at the beginning of the month in your budget book. Create a simple table with the date, type of income and amount. Then calculate the total. This total forms the basis for your further household planning. In addition, there may be income that only comes in occasionally, such as tax refunds, Christmas bonuses or cash gifts. Record these occasional amounts in the month they are received. It is a good idea to create a separate section labeled »occasional income«. These amounts are ideal for building financial reserves. For example, for repairs, insurance or upcoming travel.

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