Managing your finances as a student can be challenging, especially when you rely on an allowance system like Fundi. Fundi helps students manage their school-related expenses by providing allowances for things like books, food, and transport.
One of the biggest challenges students face is tracking how much they’ve spent from their Fundi account and how much is left.
Without proper tracking, it’s easy to lose track of your spending, leading to unexpected shortages before the month or term ends.
Overview of Fundi’s Allowance System
Fundi is a financial service platform used mainly by students in South Africa. It helps students pay for educational expenses like tuition, textbooks, accommodation, transport, and food through a prepaid card or digital wallet system. Students can receive allowance funds loaded directly into their Fundi account, and these funds can only be used for approved items or services.
Types of Allowances You Can Receive
Students may receive:
- Meal allowances
- Book allowances
- Accommodation allowances
- Transport allowances
- General living expenses
Each type of allowance may have a restriction on where and how it can be spent.
Why Is It Important to Track Your Fundi Spending?
Benefits of Monitoring Fundi Transactions
Tracking your Fundi transactions helps you:
- Avoid running out of money too soon
- Understand your spending habits
- Plan for future months or terms
- Detect any unauthorized or incorrect charges
Without proper tracking, it’s easy to overspend and struggle by the end of the month.
Real-Life Examples of Overspending Without Tracking
Many students receive a monthly food allowance but use most of it in the first two weeks. By the end of the month, they have nothing left. This usually happens because they didn’t check how much they were spending daily or weekly. With proper tracking, this can be avoided.
How to Track Your Spending Using Fundi
Using the Fundi App for Spending Insights
Fundi has a mobile app available for both Android and iOS users. This app is the main tool for tracking your spending. Here’s what you can do on the app:
- Check your current balance
- View recent transactions
- See which category the money was spent on (e.g., food, books, transport)
Every time you buy something using your Fundi card, the app updates your transaction history. You can see where the purchase happened, how much was spent, and what type of expense it was.
Accessing Your Fundi Wallet or Card Statement
Apart from the mobile app, you can log in to your Fundi account online through their website. This gives you access to:
- Full transaction history
- Monthly statements
- Remaining balance per allowance category
By regularly checking your online Fundi account, you can download your statements and review your spending patterns.
Setting Alerts and Budget Limits in the App
As of now, Fundi does not offer custom notifications or automatic alerts for every transaction. However, you can set personal reminders outside the app to check your balance and spending every day or week. You can also use a notebook or spreadsheet to write down daily transactions if needed.
Third-Party Apps That Can Help Monitor Fundi Spending
Budgeting Apps Compatible with Fundi
Fundi does not directly integrate with third-party apps. But you can still track your expenses manually using budgeting apps like:
- GoodBudget
- Monefy
- Spending Tracker
- Google Sheets or Microsoft Excel
After every purchase using your Fundi card, enter the amount, what you bought, and where you bought it into the budgeting app. This helps you stay in control, especially if the Fundi app isn’t updating in real-time.
Manual Tracking with Excel or Google Sheets
If you prefer not to use a mobile app, a simple spreadsheet can help. Create columns for:
- Date
- Amount spent
- Type of expense
- Remaining balance
Update this every time you spend. This gives you a clear overview of how fast your allowance is reducing and what it’s being used for.
Pro Tips to Stay on Top of Your Fundi Allowances
Set Weekly or Monthly Budgets
Divide your total monthly or termly Fundi allowance into weekly budgets. For example, if you receive R1200 for food per month, plan to spend no more than R300 per week. This ensures you don’t run out of funds too quickly.
Track Daily Purchases
Whether you use the Fundi app, a spreadsheet, or a notebook, recording your daily expenses keeps you accountable. Don’t rely on memory. Make it a habit to check your balance at the end of each day.
Stick to Essential Purchases
Only use Fundi funds for the purpose they were given. If you received a book allowance, use it only for textbooks. Avoid the temptation to spend on non-approved items as this could lead to issues or blocked transactions.
Issues Students Face When Tracking Fundi Allowances
No Notifications on Spending
Unlike traditional bank apps, Fundi does not offer instant push notifications for transactions. This makes it easy to forget how much was spent. You’ll need to open the app regularly to keep track.
Delay in Transaction Updates
Sometimes, there may be a delay in seeing a transaction in your Fundi account. If you made a purchase and the amount isn’t showing yet, give it a few hours. Always keep your own backup record just in case.
Limited App Features
Some students complain that the Fundi app is limited in its features. It may not provide full insights or breakdowns by category. Until Fundi upgrades the app, you may need to use an external method to monitor detailed spending.
Is Fundi Planning to Improve Tracking Features in 2025?
Fundi’s Latest App Updates and Roadmap
Fundi has released several app updates in recent months, focusing on a smoother user experience and faster transaction updates. However, it still lacks certain features like budget planning, transaction alerts, and detailed category breakdowns.
What Users Are Requesting from Fundi
Many users have asked for:
- Real-time transaction alerts
- Daily or weekly spending reports
- Spending categories and graphs
- In-app budgeting tools
If Fundi adds these features in future updates, it would make tracking spending even easier for students.
Final Thoughts: Can You Really Track Your Spending with Fundi Allowances?
Yes, there is a way to track your spending when using Fundi for allowances.
While the Fundi app and website offer basic transaction history and balance information, you may need to supplement it with personal tracking methods. Whether through budgeting apps, spreadsheets, or setting weekly limits, staying on top of your Fundi usage helps prevent overspending.