Step 1: Create one central location
Start by creating one central digital location for your documents. You can use Google Drive, iCloud, or Grassfeld. Create a main folder called “Finances” and clear subfolders:
- Income (e.g. payslips, benefits)
- Fixed expenses (e.g. phone, subscriptions)
- Purchases & warranty (e.g. receipts, proof of warranty)
- Insurance (e.g. health insurance, car insurance)
- Taxes & other (e.g. bank statements, tax letters)
Download invoices or bills immediately and save them in the correct subfolder. For any documents you still receive by mail, take a photo and store them digitally in the appropriate folder. If you like, you can also keep the paper versions in a physical accordion folder using the same structure.
Step 2: Track income and expenses
A budget without insight into your income and expenses is pointless. In the past, people kept a household ledger—writing down every transaction by hand with the date, amount, description, and category. Later, Excel became the preferred tool.
With Grassfeld, you no longer need to enter transactions manually. By linking your bank account, all your transactions automatically appear in the app. Grassfeld categorizes most transactions for you, so under the “Statistics” tab, you get a clear overview of where your money comes from and where it goes. All that is left is to review the categories and correct any mistakes.
Step 3: Create a monthly budget
Creating a budget is simple and helps you stay on top of your spending:
- Note your expected income.
- List your fixed expenses.
- Decide how much you want to save each month (e.g. 10% of your income).
- Set limits per category (e.g. max €20/month for takeaway coffee).
You can write this budget down or use a digital notes app. But the easiest way is to use Grassfeld. The app shows your income and fixed costs under the “Statistics” tab. You can also set savings goals and create budgets per category. This way, your budget is always at hand and you can easily check if you are still on track.
Step 4: Plan regular check-ins
By scheduling short, regular moments to manage your personal budget, you prevent chaos. This structure works well:
Weekly (±15 minutes)
- Upload receipts and documents (to Grassfeld)
- Pay outstanding bills
- Assign correct categories to transactions
Monthly (±30 minutes)
- Compare your budget with actual spending
- Adjust budgets if they turn out to be unrealistic
Annually (at least 1 hour, for example during the summer holiday or end of year)
- Remove unnecessary documents
- Review your income and spending and analyze: where did your money come from and where did it go?
- Check insurances and subscriptions: are they still necessary, or could they be cheaper?
- Update your standard monthly budget
- Set new savings goals
Common mistakes (and how to avoid them)
- Procrastination. Set a weekly reminder in your calendar or to-do list to keep up with your budget. It takes discipline, but you will find it pays off to take a small step each week.
- No categories. “Other” becomes a chaos. Create enough categories to keep things clear.
- Too many categories. Not every transaction needs its own category.
- Unclear filenames. Choose a logical structure, like PhoneSubscription_June_2025.pdf.
Use Grassfeld to set up and manage your personal finances
Grassfeld helps you manage your personal finances. It serves as the central hub for your money matters, giving you control over your spending. This works in both the mobile app and the web version (Navigator).
Start by creating an account. Then link your bank account so your transactions are synced and automatically categorized. Customize the categories if needed (do not worry, we have already created most of them), set monthly budgets, and create a few savings goals. Finally, upload your most important documents (and optionally link them to specific transactions).
Then it is just a matter of maintaining your budget weekly!
