Category: Business

How Manufacturing Technology Boosts Business And Revenue

Manufacturing technology has changed dramatically in the past few decades. From manufacturing robots to 3D printing, manufacturing is now faster and more affordable than ever before. This article will discuss how manufacturing technologies have changed business for the better and led to increased revenue opportunities for manufacturing companies of all sizes.

The benefits of manufacturing technology

Manufacturing technology has led to increased manufacturing efficiency and revenue opportunities for manufacturing companies of all sizes. According to a report by the International Federation of Robotics, the global robotics market will grow from $42 billion in 2015 to nearly $70 billion by 2020. With more robots on factory floors than ever before, the manufacturing output will be higher and less laborious over time.

Additionally, offshore manufacturing is often seen as one-way manufacturers that can cut costs without sacrificing quality or speed of production. However, this may not always be true with recent advancements in manufacturing technology. Increasingly sophisticated equipment combined with automation investments has resulted in better overall service and lower prices even when outsourcing jobs overseas. Offshoring can sometimes lead to expensive delays in manufacturing, quality issues, and a prolonged turnaround time.

At the same time, manufacturing technology has also led to an increase in retrofitting opportunities for manufacturing companies with older machinery that may not be up-to-date or efficient enough. With newer technologies being more affordable than ever before, it’s now easier to invest in new equipment without breaking the bank as much as it used to be. In this case, explore online sources. This is where you will be able to find burn tables for manufacturing in case you need them for your processes. Invest in this equipment should you need to address certain bottlenecks in your process.

Manufacturing systems automation is often used to increase productivity and efficiency in manufacturing environments. Automation has several different benefits that have been noted by companies such as increased production rates, less downtime due to machine failure, lower labor costs because you only need one operator per shift instead of multiple operators for the same amount of work, and improved quality control monitoring on the manufacturing floor. And with so much money being saved through these methods (about 50%), implementing this system should be at the top of your priority list. An automated manufacturing solution will typically save time and reduce errors in manufacturing processes across an entire plant or facility.

Manufacturing is changing dramatically because of advancements in manufacturing technology. If you are considering investing money into your current facilities or looking at other ways to grow your business through manufacturing investments, remember these benefits! If you need more assistance try vendor managed solutions. 

How to implement a new system

Implementing new manufacturing technologies often means changes are needed in many areas including business processes, human resources practices, plant equipment design and layout, training programs, and more. This change comes at some cost and often means changes are needed in many areas including business processes, human resources practices, plant equipment design and layout, training programs, and more.

Through careful planning of the transition to a new manufacturing technology system or process can improve profitability as well as productivity. The following steps will help you plan for success:

 

  • Conduct a needs analysis – gather data on what is happening now; identify opportunities for improvement with your current manufacturing process; assess how much risk (and reward) there may be if you were to implement a new manufacturing technology strategy. Conduct a manufacturing technology assessment that will identify the manufacturing processes, equipment, and systems that work well with the new system. 
  • Create an implementation team that has representatives from all parts of the organization involved in the project – management teams should include people who understand inventory

To implement a new system, manufacturing companies need to:

 

  • Implement a manufacturing technology plan or roadmap for updating existing manufacturing technologies so they align with changes in their production process.
  • Develop an implementation strategy using information from their manufacturing technology assessment and then finalize it by developing clear timelines, assigning responsibilities, and establishing budgets.

 

What are the best systems for your company?

The best systems for manufacturing companies depend on the manufacturing process. For example, a company that manufactures metal products uses machining to cut and shape parts in advance of assembly whereas a company manufacturing plastic or rubber products will use injection molding for production. It also depends on the manufacturing environment such as factory size, location, and whether they do outsourcing work offshore or domestically. The type of machinery that is best suited to each situation must be chosen carefully because not every system can handle all types of materials well enough for industrial applications.

 

Why it’s important to have a system in place 

It is important to have manufacturing technology in place so that manufacturing businesses can maximize their potential and grow revenue. The manufacturing industry is one of the largest industries in America, with a total value of $800 billion, and yet for many manufacturing companies, it seems like there are too few resources to manage all aspects of manufacturing while simultaneously pursuing growth.

 

The importance of training employees on the new process 

It is important to train employees on the new manufacturing process, which is a difficult task to undertake when they are used to an older system. This is because the old manufacturing process required a lot less training than the new systems. The main reason for this was that employees were able to learn how to do their job simply by doing it, whereas now they need extensive coaching and instruction before being allowed on a manufacturing line at all. 

It can be difficult finding people who are up-to-date with manufacturing technology so there’s not much point in hiring those without experience if you want them trained quickly enough! There will also be an increased cost of time needed per person as opposed to just throwing someone into the mix and expecting them automatically to know what needs to be done (although admittedly this might work out cheaper).

 

 

The benefits of manufacturing technology are apparent, but the implementation process is not always easy. It’s important to do your research and find a system that best suits your company’s needs. Make sure you train employees on how to use this new system so they can be prepared for future changes in the workplace. All these are geared towards maximizing the key benefits that innovative technology can bring to your manufacturing business.

Virgin Media Business launches innovative SD-WAN solution nationwide

Virgin Media Business has today launched a brand-new secure software-defined wide area network (SD-WAN) solution to enable businesses right across the country to secure and optimise their data, empower productivity amongst their workforce and improve overall customer experience, all thanks to the power of the cloud.

The new cloud-ready service has been designed to support next-generation networking and comes with optimisation tools that will enable large organisations to access cloud data, applications and software-as-a-service (SaaS)-based offerings such as Office 365 from multiple branch sites. As a software-based solution, SD-WAN allows customers to rapidly scale and alter their networks in line with their needs.

SD-WAN builds on existing WAN and VPN technologies and can be used to connect enterprise networks – including multiple dispersed sites and data centres – with more open and flexible hardware than traditional WAN solutions. The network is instead controlled using cloud-native software.

Results from The Central Statistic’s office’s ‘Survey on E-Commerce and ICT 2020’ reveals that 51% of enterprises in Ireland purchased at least one type of cloud computing service in the first half of 2020, up from 45% in 2018*.

This increase in demand for ICT support that utilises the power of the cloud reinforces the need for innovative solutions. Virgin Media Business is now offering a next-generation networking and security solution to Irish enterprises to help them fully embrace the services available to their businesses via the cloud.

Emer Kelly, Head of Sales and Marketing at Virgin Media Business from Virgin Media Business said: “With our newest SD-WAN solution, we’re able to offer a fully managed package that delivers the best in software and network support. You’ll also get 30 years’ of network experience and superfast connectivity, now available in speeds up to 1Gb to all Virgin Media Business customers, ensuring your business is in the best possible position for its digital transformation, all on our fast, reliable and secure network.”

As part of the SD-WAN journey, we will manage every step of the migration, from planning to delivery of service and we are right beside you every step of the way.”

Top five steps to building a brand for your business

To build a brand, you need to be consistent throughout the entire decision-making process. Figure out what you’re trying to achieve and who you want to attract – this way you’ll never lose sight of your end goal. 

Whilst there’s seemingly endless advice out there for how to best build a brand – we’ve saved you a bit of time and condensed the top five steps into an easy to digest list. Read on to find out more.

#1 Figure out your brand’s values

In order to progress with your brand’s development, you need to know the values and aims of your business. Your core values should go on to influence the rest of your decisions when building your brand. Establishing and defining your brand values will help you develop your brand in a number of ways, such as:

  • Aligning with your brand’s mission
  • Boosting employee engagement 
  • Creating a memorable brand
  • Creating a deeper connection with your audience
  • Boosting brand consistency
  • Staying authentic with your brand
  • Inspiring brand loyalty

As you can see, your brand’s values will act as an influence for almost all aspects of your brand.

#2 Identify and research your target audience

Before you can make any big decisions regarding your brand, as well as the values, you also need to find out who your target audience is. This will require brainstorming and research to identify and profile the theoretical members of this audience. With this information, you can adapt your branding decisions accordingly. 

This is often referred to as a buyer persona, which is essentially a fictional biography of your ideal consumer. This will usually include the buyer’s goals, habits, struggles and problems, amongst other factors. Ask yourself some of the following: 

  • Where do they work? 
  • Where do they live? 
  • What are their main conflicts in life? 
  • What are their hobbies or interests?
  • How much disposable income do they have?

If you can build up an image of your ideal audience members through the answers to these questions, then you can tailor your branding decisions to the wants and needs of those who will help you reach success.

#3 Develop your brand’s voice

Now you know what your audience wants to see, you can use this to develop the voice of your brand. This dictates how you communicate with your consumers and can aid you in developing a (hopefully positive) reputation.

You can exercise this voice via your brand’s story. Let your audience know how far you’ve come and where it all started – always keeping in mind the tone and language that would appeal to them the most. 

#4 Design your logo

Your brand’s logo will represent the identity of your business, and act as a quick identifier for your audience. You want people to instantly recognise your logo – this will increase your brand awareness and allow you to stand out amongst the crowd.

Whether you choose to reach out to an individual graphic designer or use a platform like Tailor Brands the key is to stay consistent. Whilst you want your logo to stand out, you also want it to be in keeping with the style of the rest of your visual marketing materials. The aim is to make your logo synonymous with your business. 

#5 Stay consistent with your branding

As we have just touched on, remaining consistent is always going to be important. This applies to all areas of the business – marketing, branding, the voice and the identity. If one of these factors doesn’t sit nicely alongside the other, then the overall message of the brand will become unclear. Consistency will also help build brand awareness, which is key to gaining recognition and notoriety within your industry. 

Irish businesses losing €3.3 billion per year as staff struggle with accessibility & collaboration

Auxilion, a leading provider of digitally transformative IT services and solutions, today announces the results of a new survey which indicates that Irish businesses are losing €3.3 billion per year as staff struggle to find and share documents. This is based on staff losing, on average, more than 21 minutes per day searching for and exchanging documents.

Conducted by Censuswide and involving more than 500 office workers in Ireland, the research also reveals that male respondents waste more time per day on this activity compared to female respondents – spending 25 minutes compared to around 17 minutes.

Difficulty gaining access to or finding work files and systems was found to be the third biggest blocker in terms of effective collaboration with colleagues, as a quarter (25%) of office workers cited it. The biggest blocker is not being able to talk in person (44%), followed by people not being as available as before (30%).

Meanwhile, 22% of workers said security concerns using communication tools is a main blocker to collaboration with colleagues.

Looking for and sharing files isn’t the only activity that takes up considerable time, with staff sending, on average, around 62 minutes per day on virtual meetings. Furthermore, this is unlikely to ease in the future with three quarters of respondents (75%) believing their organisation will continue to use virtual applications when restrictions ease.

However, more than a fifth (22%) of office workers say they don’t feel their input is as valuable in online collaborations as it is in person.

The study also found that 41% of workers have had a family member or partner accidentally appear on camera during a work meeting, while a pet made an appearance for a third (34%). A similar proportion (35%) of workers have done a virtual work meeting in their pyjamas, with more than a quarter (27%) joining one while in bed. Some 26% have lied that their wi-fi crashed to get out of a meeting.

As for the most annoying virtual meeting habits, these were revealed as forgetting to go on mute (44%), always joining the meeting late (35%) and eating on camera (32%). The worst time of the week for a virtual meeting is Friday afternoon (36%), followed closely by Monday morning (35%).

In terms of the most popular collaboration tool, Microsoft Teams is the platform of choice with 59% of respondents using it for work. Although some 57% say they hadn’t received proper training on how to effectively use their work collaboration system (like Microsoft Teams).

Speaking about the findings, Donal Sullivan, CTO, Auxilion, said: “There is absolutely no reason Irish workers should be losing so much time out of their day trying to find files and work with colleagues – and that’s not to mention the €3.3 billion it’s costing businesses. The tools are already out there to enable people to collaborate in real-time, access files securely and swiftly, and realise the benefits offered by remote or hybrid working.

“Of course, staff also need to know how to use these tools effectively so there is an educational piece that companies need to address. But if they do embrace this type of digital thinking, backed up by the best technologies and the right strategies, it will not only empower workers but boost business output and support company growth both now and in the future – whatever, and wherever, their future workplace is.”

Planning To Build A Membership Site? Here’s What To Do

If you’re looking to start a membership site, then you might be overwhelmed with all the information out there about how to get started. This article will help guide you through creating your membership website and provide some tips on what it takes. It will discuss everything from choosing a domain name, deciding if it’s suitable for your business needs, and setting up an account on WordPress.

 

1. Get a Domain Name

Securing a domain name is the first step in building a membership site. First, you need to decide whether or not you want your domain name (ex: my-domain.com) or if you’re going to use a free web hosting provider like WordPress. So think about this before registering your domain name because it can be difficult and expensive to change after registration!

Domain names are typically registered for one year at a time. That’s why you are advised to do some research on what kind of pricing plans each company offers so that when the renewal date approaches, you don’t pay more than necessary. Some websites offer discounts if paid annually rather than monthly, while others charge an extra fee per month for the past twelve months.

2. Choose your Niche

Many niches can be found on membership sites. For example, online yoga courses on different topics, like Yoga for Beginners or Gentle Yoga. If you aren’t sure where to start, it’s easier to get learning today on how you can find a profitable niche. The best option depends on how much time and effort you’re willing to invest in this endeavor from day one.

The best way to start is by asking yourself what you want your membership site to be about or for whom it will serve. Do you want a course on blogging? A course on finance basics? All of these topics can work well in the form of an informative membership-driven website.

3. Decide on a Pricing Plan and Structure

A membership site should include a plan and structure that helps you know what your memberships will cost, how much content they’ll have access to, and when the pricing plans are renewed.

A membership site should also be personalized for each member so all of them can get their money’s worth out of it.

 

4. Create Content for the Membership Site

 

Content is everything in a membership site. It’s what differentiates the members from your other visitors, and it’s why they’ve chosen to pay you for content rather than just reading free stuff elsewhere on the internet. Quality content takes up most of the space in any website and is also one of its key features, making it stand out from similar websites that offer content.

An excellent way to start would be by looking at articles related to “how-to” topics such as cooking or car maintenance so you can give people something practical for them right away.

 

5. Set up an Email List 

Keeping tabs with your audience is crucial, even if you have a small email list. There are many ways to do this, and you must find the one that suits your business needs best.

The first step is setting up an opt-in form on your website or blog so people can subscribe to be notified of any new content published in the future without having to check back frequently.

If your audience includes businesses, how about creating a mailing list? That way, they’ll receive information on industry updates explicitly related to them from time to time – just like when their favorite store sends out its latest coupons via mail!

Another option would be for those interested in what’s happening with your company, but not necessarily as frequent subscribers themselves could become members of a Facebook group. They’ll receive updates from you and have easy access to your content as it’s published on Facebook, but still not be bothered by other posts in their timeline too often.

6. Promote

Like any other site, you’ll need to promote your membership site.

Promote it on social media, blog about the benefits of joining a membership site in your niche, and link back to your website. When talking about these things online, create quality content that solves problems for people looking for solutions right now!

 

This article discusses all the details you need to get started with your membership site. Whether you want a place for customers to access exclusive content, offer services or sell products- now is the time to make it happen! It can be overwhelming and intimidating at first, but with the tips shared in this article- you’ll have all the information and resources needed to build your membership site.

Do These 6 Things Today to Promote Business Growth

Starting a new business requires extensive planning and taking care of the small details. However, the hard work starts when the business gets going. In today’s market, if you don’t upgrade or grow your business continually, you will fall behind and most likely lose it all. The sure way of survival in the business world is to keep growing your business all the time. However, there is no one formula that will ensure your efforts are as effective as they should be to grow your business. If you do these six things, you should be able to promote your business and see it grow.

 

1. Offer Exceptional Customer Service

Taking care of your customers and offering them the best service is a sure-fire way of making your business distinctive, and generating return sales which down the line means growth in your business. It can’t be emphasized enough how important this aspect of a business is, it can make or break your business. When customers receive great customer service, they will not only remember it, but they will also recommend your business to their network. If your customer is unhappy about the product or service you offer, you can compensate them, or fix what’s wrong with the business processes. Customers love to be heard.

2. Make The Best Out Of Social Media

Social media is a powerful tool that every business needs to use these days to stay relevant. It also does not take a huge chunk out of your marketing budget. It can help you reach potential clients and gain valuable information about what people and your potential customers like and need. You can launch marketing campaigns on social media platforms with a relatively small budget and you control who can see your ads. Customers voice their opinions on social media freely, and if you listen to what they say, you can offer better products, services, and customer service. Social media is the best place to give your brand a unique identity.

3. Upgrade The IT Department

The IT department is responsible for the core process in any business. They ensure that every computer, laptop, application, or any IT-related gadget is working efficiently. One of the ways to empower your IT department is by hiring an IT consulting services company to do the related tasks professionally. When you outsource this part of the IT department, you actually lower your costs in the long run and get a better service as these companies usually are equipped with the latest technology solutions and training. Invest in upgrading your software and hardware to improve the productivity of your whole business which will help all your staff do their jobs more efficiently and thus promote business growth.

4. Hire and Nurture The Right People

It goes without saying that before you even open your doors, you need to hire the best people you can afford. However, it is normal to make a few bad decisions along the way, but these mistakes can be fixed by putting more effort into finding the right staff. Give attention to the recruitment process and don’t rush hiring someone until you make sure they are right for the job and the business environment and your existing team. Once your business starts growing, don’t hesitate to hire employees in the new areas you want to develop. Offering your employees comfortable working conditions, as well as decent pay, will mean that your staff will stay and become a stable workforce which is what you need in the beginning stages of a business.

5. Reinvest in Your Business

One of the biggest mistakes new business owners make is that they spend their profit rather than re-investing it in the business. To grow your business, you need to keep investing in it, especially in the early years. No matter how big or small the profit is, you need to pump it back into the business cycle to help its growth. Promote your brand continually through offers, customized products, themes, and so on to keep the customers engaged and looking forward to your next offer.

6. Research The Competition

You must know what and how competitors are doing so you can keep your business relevant and up-to-date in either products or services. The marketplace is highly competitive, so you need to know what is working and what is not, and it’s not something you can do by trial and error because you will lose time and money. By monitoring your competitors, you will know how to reach new customers, what mistakes to avoid, and what you can offer to beat the competition. No matter how big or small the competitor is, you should know how they do things.

 

Doing these six things will help the growth of your business by overall improvement in tasks, procedures, and the caliber of employees of your company. Growing a business is an ongoing process that never ends if you want your company to survive in today’s market. You should know what your customers want and give them the service they want as they are what will push your business forward.

The Top 6 Easy-To-Use Software Built For The Complexities Of Global Business Growing

The business world has changed beyond belief in the past few years and it’s almost too difficult to comprehend how fast things are evolving. The way that global business now affects our everyday lives cannot be underestimated and companies are vying to get your attention and have some form of influence over our lives.

It can take a little time to get used to new software and learn it for yourself, especially when you are introducing it to your business and asking larger numbers of people to use it. It’s natural for humans to become accustomed to their own routines and habits, but can also be super quick at picking up new things and applying them to work.

All the processes and systems that we now use have been tested and streamlined to the point where they are almost perfect, and make such a huge difference in the way we conduct our business and carry out chores or errands in our personal lives. Without the constant development and progression of software such as simplelegal, companies and sectors are going to fall behind.

 

So What Are The Top 6 Easy-To-Use Software Built For The Complexities Of Global Business Growing?

Maybe you are looking at new opportunities in software to incorporate into your own routine for the first time or perhaps you are a little more experienced and are wishing to add some more to your arsenal, either way, there are some awesome solutions out there to help you streamline and organize your workload.

Google Drive

If you’re not already using Google Drive, you should be. You may well be using Gmail to send your emails and communicate with suppliers and clients, so it’s not a difficult transition as it’s all housed under one roof. Google Drive allows you to create, edit and store all your documents in a safe place, and through the fact it saves automatically live as you do things, there’s no need to worry about not saving and losing all your hard work. You can create documents, spreadsheets, powerpoint presentations, and more.

Email

Email has probably been one of the biggest factors in allowing global businesses to grow, especially at the beginning of the internet boom. The way we can now streamline and segment all of our communication channels through email means both our professional and personal lives are way more organized. We can now categorize and flag important messages when we need to, allowing us to prioritize workloads and conversations we are having.

Slack

It feels like the global business world has been crying out for something like Slack in terms of how simple they have made it to chat and converse with team members, colleagues and clients online. Similar to Whatsapp, Slack allows you to send direct messages to people, along with creating private chats and communication channels so you can effectively organize all conversations.

 

 

Zoom

The way that we all do meetings has changed drastically in the past year or two due to the pandemic and it feels like the founders of Zoom almost saw this coming. Given how many people are now working from home or remotely, Zoom has been the go-to option for millions of workers around the globe to host and run important meetings. You can set timings for meetings, send invites, choose who is the host, and more with this crucial piece of software which has allowed global businesses to keep growing through the pandemic.

ClickUp

If you are looking for a way to plan your days, weeks, and months in a way that the whole team can understand and interpret what’s going on, ClickUp is the way forward. It seamlessly allows you to plan out your content and presents it in a way that means people from internal and external teams can both access it and action anything if they need to. Great for social media and marketing planning if you are currently looking for an option that goes beyond what you have already.

Loom

Sometimes it can be super hard to convey what you mean to someone over email or text, so creating a video where you record your own screen and show someone what you’re working on or what they need to do, is incredibly useful. This is exactly what Loom does and with a free account, you can log on and start creating your own instructional videos in no time.

The software has changed the way the world works and will continue supporting businesses that are aiming to keep growing globally.

Manager Tips: What Can You Do To Take The IT Pressure Off Of Your Employees

Being a manager means you’re responsible for controlling the functionality of a business and the group of staff that comes with it. Administering and managing a business puts you in a position to make work easier or very cumbersome for your employees. 

Firms get a lot of tensions, from the market, technology to societal, legal, and political ones. Though technology helps firms streamline their business and digitize services, it comes with a plethora of pressures from customers, then moves to employees before it gets to the executives. However, as a business executive or manager, there are various ways you can relieve your employees of the IT pressures, some of which are highlighted below.

Create an IT Plan

A business that runs on technology or uses computers and software requires an IT plan or strategy. This is to forestall the blame game that ensues when there is a security breach or poor network security. As the manager, you should have a protocol to follow when there are service glitches – Is the online network services down? Do you have a backup server? How do you react to poor network services when natural disasters occur? Is there a data breach? How do you do a network audit? Do you outsource your IT services when you have data glitches or network breaches? 

These are questions that your IT plan should answer or cover when you map it. This way, when there are issues relating to it, the employees know they have a manual with thorough information on how to proceed, and this draws back the pressure on them and lets them focus on damage control or doing what they are hired to do.

Outsource Your IT Needs

Another way managers can help their company or help manage IT pressure is to outsource your firm’s IT needs. Your firm might require special IT consulting services that an in-house employee might not offer, and your budget may be able to afford a specialist employee. The best way to reduce technology pressure is to outsource. An experienced IT consulting service will help you manage your data storage, network maintenance, server, website, and even monitor your emails for you. 

Aside from the fact that the outsourcing firm has varied experts that can help secure your firm’s security firewall, they can also improve your service delivery time and offer customized services. This also saves your employees’ time while helping your business save more money. For outsourcing your IT services, you need to be sure that the company you’re giving your data and information to passes a strict security check and keeps up with the data privacy policy.  

Compartmentalize Access to Data and Information

 

Though employees need to be given all the tools and access codes they need to carry out their functions dutifully, compartmentalized data or access is vital. This way, when there is a data breach or security issue, you know which employees to hold responsible, not putting everyone under pressure because they all have access to it. 

Also, there should be an IT team assigned to do that or an outsource firm when it comes to IT support for your software or hardware. It insulates employees from IT pressure and allows them to focus on their core job responsibilities.

Update and Re-Train Employees

IT pressures could come from slow-working IT systems or the use of outdated software or programs. Hence, to keep your employees ahead of the game, you need to train them. For instance, the firm’s IT plan requires software change or update either quarterly or after a mid-year review. When you do this, your employees need to be trained on how to use this software correctly. 

Allow your employees ample time to get familiarised with the software they will be working with, train them when you have new ones installed. That way, you help build their confidence or reduce the pressure that might arise from IT services. 

Always Re-Access Network Security 

As a manager, you have to keep up with an inspection of your firm’s apparatus, and if you run on technology, this extends to your network security and data backup. Do your due diligence in monitoring the firewalls and data points or read reports provided by the outsourcing firm. You will know when there’s a problem that can affect your employees’ productivity and plug it in immediately. 

Persons in managerial positions must perform optimally in controlling or administering a firm. They plug loopholes that can cause pressure for employees.

The Money Journal: A Simple, Analogue Way to Tracking Your Money

“There’s an app for that” has become true in almost every situation of modern life. People are tracking everything they do, from drinking water, to where their kids are, steps they’ve taken, and how much they spend. Apps and computer programs are also reminding us to do things, automating tasks like our grocery lists and distracting us from work or studies.

There’s no getting away from how intrinsically linked we are to modern technology in our daily lives. However, there may be times when going analogue is the right option. 

You don’t always need a program to do things for you. Additionally, sometimes it’s better for you to be actively involved in the process rather than to let technology do the work for you. Budgeting and tracking how much you spend is one such task.

Getting yourself an old-school ledger or creating a diary of your spending habits can give you a far greater sense of control. You are seeing the amounts you’ve spent in black and white on the paper, and you are actively adding things up and seeing the results. Being this involved in the numbers can help you get to grips with the money you’re spending and how you can better budget things moving forward.

Start By Picking Your Style

There are various ways to track the money you spend. Which one you choose will depend on your personality and the way you prefer to focus:

  • Daily Inputs

With this method, you note each purchase you make in your ledger as it happens or as a wrap up at the end of the day. This allows you to see exactly what you’re spending on a daily basis and gives you an incredibly accurate breakdown of your habits. This will help you see immediately what your triggers could be for indulging or overspending, allowing you to change bad habits into good ones over time.

This method is also extremely helpful because you can use your daily journal to reconcile your monthly statements for your credit and debit cards. It’s not always that easy to work out exactly what you’ve spent your money on at the end of the month. Especially when the vendor uses a merchant code or name that is nothing like the name of the actual business.

  • Monthly Audits

This method isn’t completely different from the daily method. For it to work properly, you need to keep a record of when and where you make purchases that don’t have some kind of automatic electronic record. Your cash purchases are often forgotten about during the month. So, make sure you have a book (or an app) to keep a note of those for the end of the month.

Then, at the end of each month, sit down with your credit or debit card slips, bank statement, and notes of your cash purchases, and get to work. While this method may take a few hours once a month, you don’t have to worry about jotting down every time you spend money as you go.

  • By Category

When inputting your daily and monthly spends, it’s a good idea to organize them according to a system. Many people like to go by category. These include groceries, clothing, fuel or transportation, rent, for the home, eating out, etc. With this method, you can also easily include how much money you get in from your job and any other sources of income you may have.

  • By Retailer

Another way to organize your purchases is to go by retailer or store. People like to see where they are spending more money than they should or which stores might be a particular weakness for them.

Setting Up Your Analog Journal

A bullet journal is one of the easiest ways to set up an analogue method for tracking your expenses and putting together a comprehensive budget that is easy to follow. 

Don’t worry, this doesn’t mean you need to be good with design and colour, or use an array of cute decorations. Bullet journals are highly functional task management systems, you can just make them as elaborate and decorative as you want to.

  • Monthly Budget vs Spend

The best place to start is with a monthly budget. 

You may need to track your spending habits for a few months before you can start making accurate budgets. Once you have that, you can record how much you want to spend on categories or in certain stores each month and compare it to what you actually spend each month throughout the year.

  • Bill Tracker

This is where you’ll track each purchase that you make. You can have one page for daily purchases and another page for the monthly bills like rent, insurance or your Netflix subscription. This is where you’ll get accurate information to project your monthly and yearly budgets.

  • Debt Payments

Keeping track of your debt is always important. It’s also nice to be able to see a visual representation of your debts and how each payment you make is getting you closer to the end. You can also use this to help you decide if it’s worth taking out a loan or line of credit for a future purchase.

Keep in mind that if you reside in the area, you may even apply for bad credit loan in Singapore to help cover urgent financial gaps. This option, however, should be approached with careful consideration of repayment terms.

 

  • Savings

It’s also important to track what you have in your savings and how much you can put into that account or investment each month. 

If you earn any extra income from a side hustle, for doing paid surveys or any other kind of work, don’t fritter it away. Record how much you have made and save at least a portion of it if possible. You can watch the money grow and calculate how long it will take you to reach a particular goal.

  • The Contents

No journal is complete without a contents page. This will help you find the information you need easily and to flick to the right page quickly when you want to input new information. You can also colour-code each section with tabs, making it easier to jump to the right page directly.

There’s merit in using apps and there are advantages of going analogue. If you find you struggle to keep tabs on your spending even when you’re using an app, keeping written records is the best alternative. 

It’s common knowledge that it’s easier to commit something to memory if you write it down, and this applies to your money and financial situation too.