If you have a spouse both of you could do it together at the end of the day. There is an automated version in excel format on my blog that auto calculate the totals for you.
Result of effective expense tracking
Good things start to happen when you track your expenses. It begins to put you the drivers seat of your own financial future.
Capital for investment
Sometimes when I look at a financial course that is being advertised I see some similarities. There is always a promise of getting rich quick. “How to become a millionaire in 1 year ? While some of these techniques may work, for every one of them there is a pre requisite, yo need capital. In all my years of educating parents and their children of finance, I have found that many adults are struggling with basic financial foundations. The parents themselves lack a decent money quotient, yet they want to know about tips for the stock market or quick steps to become rich. Most of these adults do not even have any capital to invest. They have been living a life without financial principles.
Simply put, we need to teach our children, there are no quick steps, there are only foundations to lay and build upon when it comes to money. If we practice and build on the foundations, we get wealthy. Tracking is one of the best asuransi and fastest ways to raise the capital we need to make investments. if we make the right invesments consistenly and reinvest our returns we will get wealthy. It is inevitable result of a life lived by principles.