Jagoans, if you are asked, how much is your total expenses in a month and how much is your total expenses for each need, do you know the answer?
You may have a rough idea, but for the details, you don't necessarily know for sure. In fact, knowing exactly the details of your spending in a month will be very useful for these 4 important reasons.
Importance of Spend Analysis Report
1. Helps you have better spend visibility
Apart from knowing the total expenses in a month, there are more important things. You also need to know what exactly the money is used for.
Does more money go into savings or is it used for fun? Are you spending too much money on one particular need?
2. Helps you redefine priorities
Related to point #1, knowing where your money goes in a month will make it easier for you when it comes to redefining priorities.
Is it right that you spend all your money on self indulgence? If there is a financial goal to be achieved, which expenses can be reduced or temporarily stopped?
3. Helps you identify opportunities to save more
If you want to reduce spending and save more, you must first know clearly whether your money is really being used only for priority needs. Or, are you more concerned with your wants? Want is not the same as need, Jagoans. Read the full details here: Needs vs. Wants.
When you can reduce the use of money to fulfill various wants, you can have more money to save or invest.
4. Helps you have more control over your finances
By knowing exactly how much money you spend each month and the categories of expenses, as well as the ease of analyzing finances, you will have more control over your finances.
When in control, you can live your life without worrying about whether you still have money in your savings. Life will be far from the burden and stress due to money.
Get Spend Analysis Report in the Jago Application
Spend analysis is useful for controlling your finances not only now but also in the future.
Instead of you bothering to record every expense and then categorize and analyze it manually, you can rely on the Jago application. Every expense, no matter how small, that you make through the Jago application will be recorded. Not just the amount, but other details as well.
The Jago application also makes it easier for you to categorize expenses. There are many categories to choose from, such as entertainment, food & drinks, transportation and shopping. The next time you make a similar transaction, Jago can detect and categorize it into the right category, because the Spend Analysis feature relies on machine learning capabilities that are always being developed.
And, you don't need to bother calculating the total expenses for a month, especially if you have to calculate the total expenses for each category, then compare the increase or decrease with the previous month. The Spend Analysis feature can do it all for you.
Take advantage of the feature, so that finances can be managed even better. The Jago application can be downloaded here.
