![]() Though there are many credit and debit cards that might waive international transaction fees as part of their member perks, The New York Times noted that another benefit of a multicurrency account is that exchange rates can be even better, allowing people to get more value. If you don’t have enough money in your app and need to load more, the app will do so at the lowest available currency exchange rate. So, if you are planning a trip overseas with stops in Europe, for example, you can easily change funds saved within the app to the currency you need, when you need it. ![]() You begin by either linking your bank account - via Apple Pay or Google Pay - to load money into the app and then “toggle” between multiple currencies whenever necessary. Savings: emergency fund, RRSPs, RESPs, TFSAs, seasonal expenses (e.g.How Does a Multicurrency Account / App Work? Personal: tobacco, alcohol, books, music, clothing and shoes, donations, subscriptionsĮating Out: meals, snacks, take-out, beverages (coffee, tea, juice, soft drinks)Įntertainment: recreation, sports equipment and fees, movies, concerts, hobbies, gamingĬhild: daycare, lessons and activities, allowance, school supplies and fees, babysitting, programs, tutorsĭebt Payments: credit cards, loans, leases, support payments, government debts, personal debt Health Care: medical premiums, life insurance, medication, eye care, dental, supplements, wellness costs Transportation: fuel, auto insurance, transit, parking, taxi, rentals, car sharing, tolls Living: personal care, bank fees, salon and spa services, dry cleaning, pet costs, memberships (fitness, clubs, associations) Groceries: food, baby needs, household supplies, toiletries ![]() Household: furnace, water tank, roof and gutters, decor, upgrades, storage locker, gardening, cleaning services, outdoor equipment and maintenance Utilities: phone/cell, cable/internet, gas, hydro, security Housing: mortgage, rent, strata fees, house insurance, property taxes View a sample of a completed tracker (from the previous version of our Monthly Expenses Tracker).Įxpense Categories – Know Where Your Money is Going This becomes the cash balance for the next week. If there’s a surplus, you should have money in your wallet or bank account.
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