Question

Wyatt is a businessman. He often travels to different places for business purposes and spends money on hotel stays and get-togethers with other businesspeople. He wants to keep track of his spending and not worry about falling short on money during a business trip. What advice would you offer him to achieve this goal?

Answer 1

For Wyatt to keep track of his spending and not worry about falling short on money during a business trip he should allocate a certain amount of money for each trip, so he doesn't over spend. If Wyatt budgets and keeps track of what he spends each day on business, he can stay on top of his budget. Adding up the receipts at the end of the night and subtracting from the allocated money, will allow him to figure out how much he has left for the remainder of his trip. Another thing Wyatt can do is take out cash and only use cash on his trip so that he does not overspend. Saving for a future trip is highly incouraged when you know it's coming so that you can be prepared.

Answer 2

1) Always maintain a book for accounts or maintain an app regarding to track your expenses

2) keep an accountant to track his expenses