But they mean little if we are unable to track expenses.Īnd yes, although it might seem a little difficult to do this every month, here are some ways to make this easier for you.
APP FOR RECORDING DAILY EXPENSES HOW TO
How to track your expenses?Ĭryptocurrency, stocks, and mutual funds do sound fancy. To know where you are spending the most, you need to track expenses. If you do not have sufficient funds, then you will learn how to prioritize your spending and direct your money towards the most important things. Wondering what is budgeting? Well, the process of creating a budget is referred to as budgeting.Ī spending plan is essential because it will help you determine how much money you have to do the things you like. It could be a monthly, weekly, or annual budget. What is budgeting?Ī budget is a plan that you create on how you will spend your money. Here’s where a personal budget plays a big role. You must strike the right balance between your needs and wants and set goals that are attainable. So, does that mean you never spend on anything else but needs? Not necessarily. While the thought of spending a few weeks at a faraway cabin in the mountains is nice, the reality is that we need money to get by every day and to even get to our offices where we work to earn.
It is the medium through which we buy not only what we desire but also what we need-food, clothing, and shelter. We all secretly desire a beautiful mansion, vacations steeped in luxury, and high-end cars and gadgets, don’t we? But, fulfilling these dreams costs money-a lot of it.Īnd for most of us, money is a limited resource, something we always need to save for a rainy day.
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