Personalized Money Tracking Explained (The Ultimate Guide)
You’ve officially joined the 1% of the world’s population that know about Personalized Money Tracking.
I’m sure you’re also part of the people needing help to dominate your spending. Right? Do you also need help getting your personal finances under control?
Then an expense tracker may be just what you need. It can help you organize your income and expenses, allowing you to spend your hard-earned money a little wiser.
At this point, you must be tired of keeping receipts and want a new, more modern way of tracking your expenses. Like me, you want to be intentional with your finances, but you don’t want the 300 rowed spreadsheets and hoarded receipts you’re probably never going to go through anyway.
You’ve listened to the personal finance “gurus” preach the old, more traditional ways will stand the test of time. But we all know with technologies many advancements, and the rise of many relevant fin-techs, things are changing. And we’re not wrong.
It’s a new world.
A world with no long hours of spreadsheets. Goodbye to manually filling out log books or forgetting to insert the day’s spending spree in budgeting apps. A world with a free money tracker directly integrated with your account.
This is a new way. You’re the boss and technology bows to you.
Now each time you spend, your Mintyn Account categorizes your spending so you know precisely how much is going to different areas of your lifestyle in real-time.
Money tracking has never been easier!
What is Personalized Money Tracking anyway?
In simple terms, your bank account learns as you spend. Meaning it can suggest how you can save better, and reduce spending on certain categories to meet your goals.
Hence, the Personal experience. You’re very own accountability partner in your back (or front) pocket.
What’s the Importance of Personalized Money tracking?
You’re an individual ready to take your personal finances seriously and build the kind of wealth that’ll last generations.
To achieve that it’s important to know the basics of budgeting, savings, and spending. These three sisters tie the foundation of any financially independent person. And like all ladies, they should be respected and taken seriously.
As you’ll know, budgeting is all about telling your money where to go. Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget.
Therefore, creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
How do you tell your money where to go without knowing where it’s been?
In effect, when you know where it’s been, you are more likely to make wiser financial choices, and you are more likely to develop good savings habits that can help you build wealth.
So, the first step in a financial plan, whether you are just starting or trying to complete a financial overhaul, is to analyze your spending. By understanding what you spend money on and how much you spend, you can see exactly where your cash is going and areas where you can cut back
Although important, most people don’t wake up in the morning saying, “I’m excited because I’m going to track my expenses.”
That’s where the importance of Personalized money tracking comes in. Each time you spend, your Mintyn online bank helps you categorize your spending so you know precisely how much is going to different areas of your lifestyle.
As humans with so many things to do and so little time, we often delay budgeting expenses and that’s fine. As a business owner myself, I feel the same way. In fact, I often delay tracking my business expenses but come tax season and I find myself running around like a headless chicken trying to get all her eggs in the nest.
Afterward, I think: “How much time and stress could I have saved had I only been a little more diligent in the prior months?”
And that’s the thing; money tracking is beneficial despite how mundane the task can be. But, saving you time and stress in tax preparation is just the tip of the iceberg. By tracking business and personal expenses daily, you can also control costs, and see what you’re spending your money on and how much you’re spending. These daily figures become your marker to see whether you’re over or under your monthly budget. The entire process helps you become more financially aware.
And with Personalized Money Tracking, the process has never been easier.
What is the best way to track personal finances?
A very important part of personal financial planning is understanding where all your money goes. Tracking your spending is often the first step in getting your finances in order.
If you’re not new in the Personal Finance space you’ve probably heard it all; excel spreadsheets, the Japanese kakeibo method, manually filling mobile apps, printing out bank statements, and many other effective yet stressful and time-consuming methods of tracking your expenses. There are many budgeting hacks and resources available online, all tailored to the tastes of different personas, but if you’re here it means you’re looking for a newer, more refined method.
Money tracking is important and it’s easy to make this part of your everyday routine thanks to expense tracker apps that help you manage your money on the go. These apps certainly overlap with budgeting apps, but while the latter provides a big-picture view of your finances, expense tracking apps put more of an emphasis on your spending. These apps usually categorize your expenses and help you get a good idea of your purchasing behavior.
Whether you want a money tracking system that easily captures all your transaction data, one that automates the expense reporting process at your job, or one that holds you accountable by requiring you to manually input each one of your transactions, there’s an app out there for you.
Is there an exact app that keeps track of your expenses? (Mintyn Online Bank Review.)
What’s the point of a Bank that doesn’t help you Manage your Money?
Being the first of its kind, Mintyn online bank adapts to your transaction history. Your Account learns as you spend, meaning it can suggest how you can save better, reduce spending on certain categories to meet your goals, and even enjoy discounts on common expenses.
Hence, the Personalized Money tracking experience. An account for your unique you.
The world of expense tracking has come a long way since the first versions of Quicken and Microsoft Money came to the market in the 1980s and 1990s, respectively. Now you have web- and phone-based expense tracker apps that can help you reach a whole new level of financial knowledge and preparedness.
The Mintyn app is one of them and it stands out by allowing users to manage their finances personally.
Available on Android and IOS, the Mintyn mobile app is a valuable product ready for free download. With a 4.4 star rating on the google play store and a 4.6 on the apple app store, it serves as more than a daily expense tracker but a true way to personally control your finances.
The mintyn app is designed with an easy user interface centered on customer satisfaction. It enables clients to track inflow and outflow in simple terms and lets you lock your Mintyn card and plan ahead.
Sign up for free at the official Mintyn Online bank at Mintyn.com and gain full control of your finances.
Signing up for budgeting apps is usually quite easy. Start by going to the company website or downloading the app, and then create a new account. Depending on the app, registration may only require an email address.
At Mintyn online bank you can open your account via the web or desktop. The account not only comes with the Personalized Money tracking feature but also many notable and useful innovations.
Such innovations include:
- Goal-based savings: help you put money aside for future emergencies with various frequency options and irresistible interest rates up to 36% on your money.
- The Mintyn business: a carefully designed product for MSME (micro, small and medium enterprises) owners, entrepreneurs, sole proprietors, and other business-inclined individuals who bank with Mintyn and new customers. In a move to help business owners journey on their path to financial freedom, the product packs a punch and delivers in areas where it matters most. Register your business and get started.
- Free Transfers: the Mintyn Online Bank is big on saving operation costs for businesses by allowing owners to send money for free.
- No operations charges: Unlike many traditional banks that charge fees to run current accounts, Mintyn offers a wide variety of services at no cost to open a corporate account. Carry out your transactions without worrying about any transaction fees or maintenance charges.
- Round up savings: Mintyn online bank helps consumers build good savings habits. Customers who activate their round-up savings for transactions and bills payment will have the amounts rounded to either the nearest hundred or thousand. Mintyn will help tuck the added funds away into a savings account with the potential to earn as much as 15% on their savings.
- Flexible transfers: It’s all in your control. Set the frequency, beneficiaries, and start and end date for your transfer. Need to make changes to your scheduled transfer? Not a problem, you can edit your scheduled transfer to suit your preference.
- Seamless registration: skip the paper trail of endless requests at physical banks and get a fully functional Mintyn current account in minutes. Open your account today.
- Unlimited withdrawals: enjoy free convenient banking. There is no limit to the number of withdrawals in a month. Make payments and send money as often as you like.
- Emergency fund: Build up a savings buffer—called an emergency fund and be prepared to pay for unexpected emergencies without having to turn to family ,loans or other borrowing options that create unnecessary stress.
- Instant loans: get your salary before payday. Need urgent funds to pay those bills? As a salary earner apply and get an instant loan in your Mintyn account at the lowest interest rate.
- Tin Registration : Mintyn business assists MSMES (Micro small and Medium Enterprises), SMEs (Small and Medium sized entreprises) , register their business and also get a TIN (Tax Identification Number).
Mintyn Business and TIN registration
Tax ID number’—also known as a TIN—is a term used by the IRS to signify any type of number you use to identify your business.
Your TIN should be the first thing on your mind when deciding to open a business account of any sort as this number will be used to file your taxes. Also, you’ll need a tax ID number to open any legitimate business account or get a loan from a bank. It is a must-have if you need an import, export or trade license.
Some might ask, why the rush? But getting a tax ID number now will save you a step later on when your hands are full helping your business grow.
Mintyn Online Bank aids in this rather tasking process by offering its customers a way to curve the stress of late registration.
Unlike the lengthy traditional TIN application methods that may take 1-3 months, Mintyn Online bank offers its users a complete registration in only 3 simple steps.
Now with the legalities aside you can focus on the parts of your business you love and sleep well knowing you’re on the right side with the law.
Frequently Asked Questions (FAQ)
Is money tracking necessary?
When you track your spending, you know where your money goes and you can ensure that your money is used wisely. Tracking your expenditures also allows you to understand why you’re in debt and how you got there. This will then help you design a befitting strategy of getting out of debt and building wealth.
Is Mintyn bank Legit?
The company behind, Finex Microfinance Bank LTD, the Mintyn bank gives the full impression of being legit. The company is licensed by the Central Bank of Nigeria and is insured by the NDIC. Mintyn also enjoys a partnership with Providus bank to provide the Mastercard used for its Mintyn Card issued via the app.
Accountability and consistency are two of the most important factors involved in a healthy and productive financial lifestyle. Money tracking is the best form of accountability, and a Personalized money tracker helps with staying consistent.
If you make and spend money, it’s likely that you could benefit from a budget of some kind. A budget can give you a clear picture of how much money you have coming in and going out. If you’re living paycheck to paycheck or struggling with debt, your need for more control over your finances might be all too clear. But even wealthy people could spend and save more wisely with the help of a budget.
Personalized money tracking systems take a lot of the work out of making and maintaining a budget. They can automatically sync up with all of your bank accounts and payment cards, categorize your transactions, and give you a bird’s-eye view of what you buy and how much you spend each month. Many apps generate reports to show how your finances change over time. All that would be difficult or impossible to replicate on your own, but these systems make it easy.
At the end of the day, it boils down to you and what you intend for your finances. Nevertheless, an expense tracker is something everyone should have, and I encourage you to get yours today.
Experience the benefits of personalized money tracking today .
Good luck with your finances.