fbpx

Visualising income and expense

Can you allocate 5 minutes in a day? Then read on...

Think your household budget as a business entity for profit.

The first step is to keep a track of your income and expenses.

Writing daily spends can seem daunting, boring and cumbersome too.

Do you realise journaling is a proven way of recording expenses?

To start, it can be written in a book/diary/mobile note pads

Now, on an average there around 7-10 transactions in a day? (incl. cash and credit card expenses)

What happens when you note down all this?

– gives you a sense of per day spends that add up to weekly, monthly trends

– helps visualise impulsive purchases, makes one orient towards discipline

– brings organisation and orderliness to expense chaos

– Cash position is near accurate as credit card expenses are accounted on the day of swipe (no surprises later on!)

It also has a positive aspect on the financial psyche of one’s mind.

Baseline: A few minutes spent daily can free up many hours of internal monologuing about financial decisions

Are you doing all this already? Or are you ready to take the plunge?

Do share your thoughts…

#money

#personalfinance

#journaling

#financialgoals

#financialplanning

Do check out this blog for more info: https://amplebucks.com/an-intro-to-financial-freedom/

Default image
Ramnath Sundar
Articles: 19

Leave a Reply