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![]() Every dollar coming in or going out needs to written down. When it comes to tracking your expenses, it's essential to include EVERY transaction. I use the cash envelope method, which means my regular bills are paid using my personal checking account, and I use cash for the rest of my spending. I like to use this expenses tracker because it allows me to keep a running balance of my checking account as well as track any cash spending. Once you have figured out which accounts you are using to spend and receive money, it's time to start tracking. Looking at your accounts will help you identify where you are spending. This can include your checking account or any credit cards you have. The first step in the process is locating all of your accounts. That means, for me, not only do I need to track any cash spending, I need to track all of the transactions that are going into or coming out of my checking account.įor example, if you have movement of money in 5 different places (bank account, savings account, cash spending, etc.) it all needs to be on your expense tracker. I record and track where EVERY dollar goes. You need something where you can record your data and spending transactions in an organized way. If you are only using pen and paper to track your expenses, you need the right tools and method to make sure you are not just accurately recording your spending, but the process is efficient.
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