The first step to start tracking your ringgit is to start listing down all your incomes and expenses. If possible, try to work out your incomes and expenses for the past three months. If you are unable to get all the details for the past months, you can track your current income and expenses.
Your monthly income (inflow) should include your salary, other receivables such as commission from your side hustles, interests from certain investments, bonus or dividends, and rental receivables.
Your monthly expenses (outflow) should include rental payable, mobile phone bills, student loan installments, personal loan installments, housing loan installments, hire purchase installments, meals (breakfast, lunch, dinner, snacks, suppers), drinks (Starbucks, bubbles teas, beers, liquor), subscriptions (Netflix, iFlix, Steam etc), cigarette, entertainment expenses (Karaoke, trips, movies), petrol, car maintenance, cash for your parent, etc.
