Start with one account and one week

Expense tracking is a record of money coming in and going out. Start with the account or payment method you use most often. Trying to reconstruct every transaction from the past year usually creates more work than useful information. Pick a start date and record spending from that point.

For each purchase, capture the amount, date, category and a short description. Keep income separate from spending. If you pay in several currencies, keep the original currency and use a consistent conversion method for reports. A restaurant bill of 180,000 VND should not be stored as 180,000 USD.

Choose categories that support a decision

Begin with housing, groceries, eating out, transport, bills, health and other spending. Split a category only when the distinction changes a decision: separating groceries from restaurants can reveal a useful pattern; separate categories for every café usually do not.

Example: record a 45,000 VND coffee as eating out, a 350,000 VND grocery purchase as groceries, and a 70,000 VND fuel purchase as transport. If a supermarket receipt mixes food and household supplies, either split it or consistently use one primary category.

Avoid counting the same money twice

Moving money between your own accounts is a transfer, not new income or spending. A credit-card repayment should not be counted again if the original purchases are already recorded. Cash withdrawals are also transfers if you separately track purchases made with that cash.

Refunds reduce the related expense. If you split a meal with someone, record your own share or record the full payment and the reimbursement consistently. Choose one method and document it so your monthly totals remain comparable.

Review the record before setting a budget

Once a week, compare the record with available receipts and account statements. Look for missing entries, duplicate purchases and incorrect currencies. A daily five-minute check may suit some people; a weekly review may suit others. Pick a schedule you can maintain.

At the end of a complete month, identify one category you can adjust. Use actual spending as the baseline, allow room for necessary costs, and review again after another month. MoneyAI supports voice and text entry on iPhone; check each parsed entry before saving. A notebook or spreadsheet can also work if it fits your routine.