Sunday, June 9, 2013

Tracking Expenses

As I have mentioned earlier, I generally hate tracking my expenses.

Now when I have my home and obviously the Home Loan, I want to pay it off as early as possible.

So I am starting my saving from counter 0. For this I am adapting all the "so-called" good habits that I was not able to while I didn't had so many responsibilities. Now, tracking is must. I always hated this habit of tracking as I always liked earning more than I spend. However, now with big home loan numbers, I realize sometimes it may not be possible to earn more, hence spending less becomes obvious choice.

I know, I spend on small things and these small things add up eventually.  Though I hate making compromises in things that gave me happiness and joy, I will try to act on things that I can work upon. To get my wealth built, I will need to  earn more than I spend and I need to spend less than I earn and I need to know what and where I am spending. I have recently started this. I am adding all expenses in my mobile application and I plan to analyze them periodically.

If you have any other suggestions, please share. I would also like to hear your story of tracking.

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