Financial Planning

Expense Management: Why You're Always Broke and How to Fix It

Expense Management

Expense management is that annoying thing you ignore until your bank account starts crying for help.

You ever open your banking app and think, “Wait, where did all my money go?”

Yeah. That moment? That’s what this article is about.

Is It Just Me, or Is Money Just… Disappearing?

You’re not alone. Most people can’t explain where their money goes. They think they have a budget. But what they really have is hope.

Hope isn’t a system.

If you’ve ever said:

  • “I swear I only bought one coffee.” (It was five.)
  • “I’ll start tracking expenses next month.” (You won’t.)
  • “I just need to earn more.” (You’ll spend more too.)

This post is for you.

What Is Expense Management Really?

Simple: It’s knowing what you spend, where it goes, and why.

But don’t confuse this with budgeting apps or spreadsheets you’ll use for two days and abandon like a New Year’s resolution.

Real expense management is:

  • Tracking daily spending (yes, even that £3 snack).
  • Noticing patterns (like UberEats draining you).
  • Fixing leaks (like subscriptions you forgot you had).

It’s not about guilt. It’s about clarity.

Here’s What Blew My Mind (And Might Blow Yours)

When I first tracked my expenses seriously, I found I spent more on takeout than rent. True story. I nearly cried.

Now I’m not saying cut all joy from your life. But if you’re broke and you’re still ordering £22 sushi on a Tuesday? That’s not “treating yourself.” That’s sabotage.

Okay, So What Do I Actually Do?

Let’s make it painfully simple.

Step 1: Track Everything (Yes, Even That One)

Start today. Don’t wait till the 1st. Use whatever you’ll stick with:

  • Notebook – Old school, but effective.
  • Notes app – Quick and easy.
  • Apps like YNAB, Mint, or Money Manager – Great, but only if you open them daily.

Pro tip: Take 60 seconds before bed to jot down what you spent. It’s like brushing your teeth, but for your wallet.

Step 2: Categorise It (Don’t Overthink It)

Break your expenses into 3 simple buckets:

  • Needs – Rent, groceries, transport.
  • Wants – Coffee, Netflix, your 14th hoodie.
  • Leaks – Double subscriptions, late fees, impulse crap.

Leaks are where your money goes to die.

Step 3: Cut Leaks First, Not Fun

Most people try to cut “fun” expenses first. Bad idea. You’ll just rebel and binge-spend later.

Cut leaks. Not joy.

Example?

  • Cancel that 3rd streaming service you haven’t used in 6 months.
  • Switch to a bank account that doesn’t charge “maintenance fees.”
  • Pause Uber. Walk more. Save. Move.

Let’s Talk Tools (But Only the Ones That Work)

I’ve tested over a dozen apps. Here’s what stuck:

  • Money Manager (iOS/Android): Simple UI, doesn’t nag. You’ll actually use it.
  • Spendee: Pretty graphs, lets you set spending limits per category. Fun way to feel guilty in colour.
  • Google Sheets: If you love chaos, but want control. Total custom freedom.

I ditched fancy tools and went back to pen + app combo. Works best.

Why You Keep Failing at This (And How to Stop)

You try to fix everything overnight.

Newsflash: You didn’t get broke in a day. You won’t fix it in one either.

Here’s what actually works:

  • 1% better per day. Just one fix. One category. One change.
  • Review weekly. Sunday night = Money check.
  • Forgive yourself. You’re human. You’ll mess up. Restart.

Rhetorical Question Time

What’s easier: Checking your spending once a day? Or crying about rent every month?

Your money’s your responsibility. But it doesn’t mean you need to act like a robot.

Make it work for you. Spend smart. Still enjoy life.

Real Talk: My Wake-Up Call

I was working hard, earning okay money, still broke every month. Why? £4 here, £9 there, subscriptions, impulse deals. Death by a thousand cuts. Expense management didn’t just help me save—it helped me breathe. And once I could breathe? I could plan. Invest. Sleep better.

Frequently Asked Questions

What’s the easiest way to start managing my expenses?

Just start writing them down. You don’t need fancy tools—just track consistently.

How can I stick with it long-term?

Make it a 5-minute daily habit. Do it when brushing teeth, lying in bed, or during your last scroll.

What if I live paycheck to paycheck?

Then you really need this. Start by spotting your biggest waste first. Tiny cuts add up.

Final Thoughts

Expense management isn’t about perfection. It’s about awareness. Like cleaning out a messy room—you can’t fix what you don’t see. You work hard for your money. Don’t let it slip through your fingers like sand in a broken bucket. Track it. Learn from it. Then actually use it to live better—not just survive.

Try It Today

Pick one method. One habit. Start small. Stick with it for a week. Then message me and tell me how much you found hiding in your leaks.

Seriously. Do it.

Expense management isn’t the enemy—it’s your compass.

And if you’re tired of being broke? That compass starts with writing down your next coffee.