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Do you track your expenses/income?

Madza
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・1 min read

One of the cornerstones of successful budgeting is tracking the expenses and income.

Do you keep a log for that? Maybe you have an app you can recommend?

Discussion (10)

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jessekphillips profile image
Jesse Phillips

The bank account is sufficient for tracking the specifics, but I'm not budgeting each transaction. Paycheck is split with an account used to pay monthly expenses using a amount to cover monthly cost.

An audit of expenses can occur from time to time, and this can be triggered by early warnings using this system.

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ravhawk profile image
Will • Edited

For my business, we track everything through P&L documentation as one of multiple ways we understand/track our costs and revenue. We also track individual expenses through online software in which each card holder needs to verify and document receipts for expenses.

On the personal side, I use spreadsheets to track my bills, expenses, budget, etc. Most online banking now have pretty good software to track expenses over time and can categorize it for you. We go in to that, customize it for our needs, track spending over time and analyze our needs vs expenses and allows us to adjust spending as a result.

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bobbyiliev profile image
Bobby Iliev

Yep! Every single cent since 2014 till now.

I've started with an app called Spending Tracker and I've been using it ever since as it holds my historical data. Though there might be some better apps out there nowadays.

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madza profile image
Madza Author

Thanks for the app suggestion πŸ˜‰πŸ‘
Looks nice, should take a deeper dive on features! πŸ˜‰

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doduf57 profile image
Dorian Dufour

I use FireflyIII on my own local server. They have a good community and a Reddit group if you need help.
Check it out firefly-iii.org/

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madza profile image
Madza Author

Thanks for the recommendation πŸ‘πŸ˜‰

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ezzy1337 profile image
Derek D.

I'm proactive about it and use Every dollar for my budget and it lets me track expenses on the items I budgeted so I can see where I am overspending or over budgeting.

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metalmikester profile image
Michel Renaud

I have 31 years of revenues and expenses tracked in Quicken.

  • Quicken: You're over budget in this category!
  • Me: Yeah, well, I really wanted a beer.
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naveenkumarkg profile image
Naveen

Yes I do track my expenses , every rupee I spend . I use google sheets which is easy to access on both Desktop and Mobile.

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arifulhb profile image
Ariful Haque

I've been using YNAB for last 2 years and it really controlled my spending habit and helped me to save some bucks.