Do you guys track your monthly expenditures?
I am trying to form a habit of tracking where my money is going.
I used spilitwise for a long time, but now it seems for everything you need premium version. Do you guys use any app to track your monthly expenses?
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Yes, I do.
I simply use google sheets. I create one tab for each month.
I tried a ton of apps. Nothing beats the good old google sheet.
Yep, this. If you really think about it, most apps are a visual layer (with ads now!) with some form of a spreadsheet running behind xP
I am getting a feeling that this might be the way I will end up at.
if you look at it ironically, no one has been able to create a proper budgeting app, when that’s needed atleast in every household.
I don’t track monthly. I just download the bank statement once a year, and categorise the transactions as Income, Expense, Investment, and Internal Transfers. Last one is for moving money around within portfolio, e.g. selling one mutual fund to buy another, FD to mutual funds etc.
Then average out the total expenses to check what the avg monthly expense is
Thanks for sharing your thoughts.
isn’t that too counter productive thought? I am not sure how you are able to handle that with one statement that too annually.
I personally am struggling with spends on credit card, upi, cash transactions, groceries etc.
All of these combined per month are ~50 odd transactions, doing that annually would be a tedious process atleast in my POV.
My whole idea of budgeting is also to track where my money is being spend on, so I can adjust if needed. That way annually seems difficult to manage.
Yeah I don’t track “where”. I just track the total amount of expense to know what happened.
I use axios. I hardly use cash so helps
I use Fold since most of my expenses are through UPI
Just start with saving and investing with rest of the money enjoy things just have commin idea how much you spent around
That’s the thing, I like to have a control over my budget. I am an impulsive buyer so want to control my habits.
Doing budgeting and allocating some funds + buffer to each category kind of felt like the right way to go about it.