Start with what you actually spend, not what you think you should spend. Track your money for 2–3 months, then build a realistic budget with Excel or a free phone app like Monee.
Track first. Plan with real numbers.
For 2–3 months, record your money. Log income and every expense, including cash, small purchases, bills and debt repayments. Use one tool consistently and check it against your statements each week.
Look for your usual monthly costs. Group spending into essentials, flexible spending and debt payments. Compare the months and work out an average for each category. Check older statements for annual costs such as insurance or school expenses: a short tracking period may miss them.
Build a plan you can actually follow. Start with reliable take-home income. Allow for essentials and required debt payments, set aside money each month for annual bills, then choose realistic savings and flexible-spending amounts. Leave a buffer and check that your total fits your income.
Review every month. Compare your plan with what happened. Adjust categories when costs or income change, rather than abandoning the whole budget after one difficult month.
You can make a rough budget today and improve it as you track. You do not need to wait 3 months to cut an unaffordable expense or deal with an overdue bill.
Excel: your budget in a spreadsheet
A good starting point if you like seeing the detail and adjusting your own categories. Keep one sheet for transactions and another for your monthly plan.
Record the date, description, category, money in and money out. Use MUR consistently and include cash spending.
Total your income and spending by month and category. Avoid counting a transfer between your own accounts as new income or an expense.
After 2–3 months, use those totals to create planned, actual and difference columns for each category. Keep annual expenses separate and divide their expected cost by 12 for a monthly allowance.
Excel is useful if you already have access; the desktop version may require a paid licence or subscription.
Monee: free tracking on your phone
Monee is a personal recommendation from Clair’s creator, who uses it to track everyday spending. It is an option if you prefer entering a purchase on your phone as you go.
Monee’s website lists income and expense tracking, custom categories, recurring transactions, monthly summaries and data export. Use the summaries to review your first 2–3 months and inform your plan.
The website currently describes Monee as completely free, with no ads or subscriptions, and lists iPhone, iPad and Mac support. Check its website for current device availability and terms.
