I am doing some surveys for my new book.
Today survey is about keeping track of your cash flow. I would like to know if there are many people who actually keep track of every ringgit they earn and spend. If you record your spending whether on a notebook, computer or your hand-held device, please select “yes”.
If you hardly do any tracking at all, choose “no”.
If sometimes you do, or you used to do it but stopped due to whatever reason, choose “sometimes”.
Please comment on this topic and tell us what you think about tracking your money below.
Thanks for your participation.
{ 13 comments… read them below or add one }
actually now i try to learn how i can improve my financial because i’m planning to buy a house for this year.Before this,i just make budget to manage my salary without any purpose.i have credit card debt and personal loan.so i think that i need to look back my financial before i try apply any loan for my future house.i’m worried if bank won’t approved my application because of my bad financial.
anyway i luv your blog.i get a lot of info about financial.tQvm
keep a good record of your credit history.
Yea I do all the time. Just started this year and input all my transactions into a spreadsheet with some formulas to help me do the calculations automatically. It’s pretty sweet
Yes! I do my personal book keeping in Microsoft Excel. Used to track down to every ringgit I spend last time when I have just started, but now as I become ‘pro’ already, I don’t really track every ringgit I spend but instead every month I have already allocated how much for Savings, Food, & Misc (In fact, I have already draw up the budget in the beginning of the year). So I pretty much just spend within what I have allocated.
I agree with all of you that keeping track of your cash flow is very important. In fact, it is the foundation of your financial freedom. When charting your Readmap to Financial Freedom, you need to know how much are you spending every month and where. Without that information with certain level of accuracy, you can’t get a good roadmap done. If you are serious about achieving financial freedom, you should at least know how much do you spend in a month. That’s would be the first step to your journey of financial freedom.
I have been doing this for more than 12 years. It is a must for me to know where does my money go; to determine these spending are needs or wants; to ensure it is going according to my plan…..
It is a really a wonderful exercise.
good habit.
If you dont know where your salary has been spent every month , that is mean your financial is really in a bad shape, You need some medicine to cure it. Lets start with tracking your cashflow
I’ve been keeping track of my expenses.. it’s been few years back…. but making my husband keep track of his expenses was actually the rewarding achievement of all…
I keep track all my expenses on my iExpenseit apps on my iphone. It has became a habit for me since 2 years ago.
Azizah,
I myslef have tracked my expenses for few years too, and I am very proud to say that i have now able to amange my $$ much better….but tracking my hubby’s expenses is still a major headache, since he’s not so cooperative, and also because he’s a free-lancer and do part-time business…so, he needs some rolling $$ too..plus he’s the eldest and helps his family a lot…any advice how i can tackle this? I seriously think I can help him.
KC, as usual…this is always an eye-opener topic to some, and refresher to some, like me..;)
Yes. I do jot down how much money I spend everyday. It’s a good habit so I’m able to manage my money well.
Dear KC,
honestly, i always not on good track, you could say that i’m in the ‘sometimes’ group.I am still trying to improve but always end up ‘… later laa…’ .Anyway, your blog helps me and slowly understand about the Financial IQ.
Hope one day I could become like you and the rest above..
thks
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