Managing expenses effectively is essential for maintaining financial health, especially with convenience of UPI. Here are some things to know about it.
1
Define a monthly budget for different categories like groceries, entertainment, dining out, etc.
2
Many UPI apps provide detailed transaction summaries which can help you identify unnecessary expenses.
3
Implement a 24-hour rule wait a day before making non-essential purchases to see if you still want it.
4
Some apps allow you to customize these limits, providing an additional layer of control.
5
Take advantage of cashback offers and discounts available through UPI apps, but ensure they align with your needs.
6
Using multiple apps can lead to confusion and difficulty in tracking your overall spending.
7
This practice helps you stay aligned with your financial goals and adapt to changes in income or expenses.