My Financial Recap For the Last 7 Days | by @wase1234

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Hello Steem4nigeria, this is a wonderful contest and I am happy to participate. Most of us don't track our finances so I really see this contest as a good initiative to awaken us. Before I start with my financial recap, I am going to tell you all the advantages of keep track of our finances.

Advantages of Tracking Finances

• Tracking your finances makes us see how much we spend on irrelevant things and it goes along way to help stop the habit.

• Keeping track of our finances is a good way to help us not to exceed our budget for a certain period of time be it days or month. When we find ourselves spending more than we should, it helps us adjust.

• Keeping track of financial activities helps us save money because when we see the things we spend on, we can limit them and it can creat enough space for part of the money to be removed with the purpose of saving.

• Tracking finances gives us a sence of self management and not to fall into unfortunate situations of not knowing when we running of of money.

My Financial Recap For The Past 7 Days

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I will be telling you guys of my financial transactions for the past 7 days beginning Wednesday 25 May till today June 1. So usually, I have a maximum of 10,000frs (65 steem) to spend per week. What I will be doing is I will present a table for last week Wednesday to this Wednesday for my cash receipts and expenses for each day. The balance of the previous day will be used to start the next day.

Note that receipts will be added and expenses will be subtracted. To signify subtraction, the amounts will be put in bracket.

Wednesday

Element	Price (FCFA)	Steem Price
Starting Balance	10,000frs	65 steem
Transportation expense	(100frs)	(0.7 steem)
Balance	9,900frs	64.3 steem

On Wednesday I went to a my friend Suzanne's house where I stayed the night due to a blackout at my place. So transportation there was 100frs (64.3 steem). I also had lunch and dinner there.

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Thursday

Element	Price (FCFA)	Steem Price
Starting Balance	9,900frs	64.3 steem
Transportation	(100frs)	(0.7 steem)
Bought hangers	(1000frs)	(7steem)
Food items	(500frs)	(3.3 steem)
Light bills	(2,750frs)	(17.6 steem)
Balance	5,550frs	35.7 steem

On Thursday I had to go back home so hence the transportation expense. I also had to pay my light bills as well as buy hangers to partake in the steem entrepreneur make them smile contest. I have stock of food in the house so when I have to cook I just have to buy the few I don't have that's why my money for food stuffs is so low.

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Friday

Element	Price (FCFA)	Steem Price
Starting Balance	5,550 frs	35.7 steem
Transportation	(100frs)	(0.7 steem)
Balance	(5,450frs)	(35 steem)

The food I prepared on Thursday lasted till Friday so I had nothing to do with money except spend on transportation to visit a friend who paid my transportation back.

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Saturday

Element	Price (FCFA)	STEEM Price
Starting Balance	5,450frs	35 steem
Transportation	(500frs)	(3.3 steem)
Cash Receipt	1000frs	6.5 steem
Balance	5,950frs	38.2 steem

On Saturday I went to visit @graciella so I spent the above amount on transportation. I was served good food while at hers. When leaving her place her mom gave me 1000frs which was well appreciated so hence the cash receipt.

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Sunday

Element	Price (FCFA)	Steem Price
Starting Balance	5,950frs	38.2 steem
Transportation	(400frs)	(2.6 steem)
Offering	(300frs)	(2 steem)
Food	(1,500frs)	(9.7 steem)
Candle	(200frs)	(1.3 steem)
Balance	3,350frs	22.6 steem

On Sunday I had to go to church and attend a meeting so my transportation amount increased. Also I ran out of candles so I bought two more, then I spent some money on purchasing food to eat as well as my offerings in church.

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Monday

Element	Price (FCFA)	Steem Price
Starting Balance	3,350frs	22.6 steem
Food items	(1,500frs)	(9.7 steem)
Balance	1,850frs	11.9 steem

On Mondays we have ghost town in the English speaking sections of the country so we don't go out. So I only spent on food that day.

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Tuesday

Element	Price (FCFA)	Steem Price
Starting Balance	1,850frs	11.9 steem
Snacks	(300frs)	(2 steem)
Balance	1,550frs	9.9 steem

I had leftover food from the previous day so I didn't spend on eating but I bought snacks at school though 😁.

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Wednesday

Element	Price (FCFA)	Steem Price
Starting Balance	1,550frs	9.9 steem
Food items	(2,550frs)	(16.4 steem)
Shopping	(5,700frs)	(36.6 steem)
Transportation	(350frs)	(2.3 steem)
Maintenance	(800frs)	(5.2 steem)
Deficit Balance	(7,850frs)	(50.6 steem)

Today I went to the market and did some shopping both for personal stuff and food items. I had to incure transport as well. At home, I had some maintenance done so I also had to incure that expense.

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I always try to stick to my budget as much as I can. But still I think there is a mistake I made in my weekly spending which was going shopping without really allocating funds to to incure that expense. Nevertheless the shopping was needed because what I bought was really needed. From my budget allocation above, I notice that what I spent on most is transport and food items.

I don't think I made any mistakes with my budget because first of all I work on a very tight budget so it's not easy to keep the balance.

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This process has really been positive for me because I have been able to see just how me I spend ok everything clearly. So it's been a very positive encounter though I entered my budget of the previous week.

To maximize positivity, I think I will have to try to increase my income sources because for now I consume autonomously (consuming without earning). I do have other sources of income like my petite business but I am still trying to grow it so I can't be pulling money of of it yet. Anyways I hope I can find a way to to cut down my expenses Abit so as not to keep having deficits.

But overall it has been a really eye opening experience taking part in this contest.

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Thanks for reading 👐.