It’s been more than a week now since I made an update of my daily expenses, I almost dread to open my accounting software today. I tried to be brave though and opened it anyway, and I saw the past expenses on the account register glaring at me, waiting for some new inputs.
Keeping track of my personal finances can be difficult if I neglect doing it even for just a few days. Good thing, I use an accounting software which makes it easier for me to track down my income, monthly budget and daily expenses among other finance related stuff. Looking at my cash flow forecast for the next 30 days is enough reason for me to pack up my things and head on to Mars. Yes, it doesn’t look nice. Sure, I can always juggle funds, though I avoid it as much as possible, it just make things complicated sometimes.
How about you? How do you manage your finances? Are you on top of it, with your savings and investments intact, or still struggling to make both ends meet? The topic of personal finance is always interesting, and some even discuss it with passion, while others would get emotional at the mere mention of numerous debts and bills to pay.
I was reading over some informative online community finance forums and was interested about the story of a mother who can’t sleep at night. She was too worried about her dwindling finances and thought of selling their house to pay the bills. Her story isn’t much different from a lot of people I know. I was impressed with the reply of another forum member, who gave valuable insights on her predicament which made me realize something about debts too.
Online finance forums are communities providing an avenue for people to help, advice and support personal finance issues. Discussions are categorized into general finance, personal loans, debt, mortgages, real estate, credit cards, and other finance related topics. Those interested with retirement issues can join the 401k retirement forums and pose some queries on pension schemes and retirement options.
While most people prefer to avoid discussion of finances, and would rather talk about the weather, it helps to communicate with others about money issues. There is always something to learn and share with others. After all, we need to manage and control our finances instead of the other way around.
that’s interesting, thanks for the info. my 2-page interview “My Money Story” is in the July/Aug 2007 issue of MoneySense. i was informed that it is already in circulation.
I am still at that stage in my life when keeping track of expenses seems taxing. But I am considering doing that soon. My sister, an accountant, keeps track of her expenses and I see the fruits of her labors in the savings she makes. I have savings but I know they can be much more if I start looking at what I earn and what I spend it on.
wow, you are very brave indeed. Haven’t done accounting in oh…..around 5 years? hehehehe
I hate plodding through what I spent actually, cause it makes me look like a greedy, irresponsible dweeb!
I used to do this when I was single. But I was only punctual and up to date with the first few months. It just seem to fade away afterwards. It just show I’m not a budget man. hehe.
I did this stuff before when I was still a college student. Now that i’m already working I don’t practice it anymore although this is a great idea to track down your finances and expenses.^^
I hate tracking down my expenses. For one thing I’m an ilokano and that complicates my innate characteristic as kuripot.
When paycheck comes, what I do usually is to mentally jot down the things I need and the things I can live without.
Simple but it works 😉
SexyMom: Maybe you could give us a text of your interview in your blog? It would be great to learn from you about this too. 🙂
Alternati: Well, I have to track expenses coz I do not only track my own personal finances but our family funds as well (monthly contributions from siblings), and some other important accounts.
virus: Yeah, me too. Going over through some of my expenses makes me realize how I could get carried away sometimes with shopping. tsk…
Rey: Good for you, you have Jean to manage your budget, so you can focus on your work. That’s how blessed you are. 🙂
BB_anne: I think the habit comes when you need it. Maybe in the future, you will have to do some accounting when you will be presented with all sorts of accounts and expenses esp when you have your business na *winks*.
Jef: aha an Ilokano! I’d like to think of Ilokanos as sensible and thrifty when it comes to money issues, they live within their means…medyo negative kasi yung dating ng ‘kuripot’.
wow, mentally jot down. wala akong talent na ganyan, heheheh…. so it just really depends on what works for us. 🙂
I’m very conscientious when it comes to finances. I’m always at work with my Quicken software (I actually enjoy it) and my husband and I always plan our financial life. I also read Francisco Colayco’s books… very informative, expecially for Filipinos.
Toe: yesss… finally, somebody who actually uses an accounting software like me. 🙂 It makes the computation easier, di ba. at least it’s automated na. I use a different software though.
I haven’t read Colayco’s books. I will try to find them in National bookstore next time. Learning to control and handle finances is a good start to being financially free.