How to Keep Track of Personal Finances?
Use a simple balance sheet to keep track of your personal finances at current time. Further, use a monthly inflow and outflow tracker sheet to keep track of month end finances.
How to get a Free Personal Finance Tracker?
You can build a free personal finance tracker using Google Sheets or Microsoft Excel. InvestCouple also has a free financial tracker for you via this link. This Google Sheet will help you answer the following questions:
- How much money or assets have I gained/ loss?
- How much you have at that point of time?
- How to start tracking monthly expenses?
Why use a free personal finance tracker?
2 Simple Steps to start tracking personal finance
Step 1. Start with a Balance sheet and fill in your assets and liabilities.
Step 2. Next, diligently list down all your monthly cash flow activity (both inflow and outflow)
InvestCouple recommends a simple tracker like the one available via this link. We used to enter all expenses using a free mobile application. However, it is a lot of effort and discipline to key in every single transaction. Further, you have to cross check the spendings against actual receipts after a long tiring day. Therefore, just use the tracker and consolidate a rough breakdown of each broad spending category. With this free finance tracker, start planning your finance today. This small step is crucial in achieving bigger money goals.