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?

InvestCouple have been using these 2 statements: Balance Sheet to know how much we have at the beginning of the year and the Monthly Tracker to track where our money have been flowing, in or out.
The more advanced couples may track how fast their money is moving.

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.