Cash Flow Was Positive But Spent More Than Cash Flow Financial Budgeting Software – Is it Really Needed?

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Financial Budgeting Software – Is it Really Needed?

Do you really need financial planning software sitting on your computer to track your cash flow? I should say no.

Keeping track of money coming in and going out is not as hard to do as one might think. All you really need is a pad of paper and a pencil. The ability to add and subtract with a cheap calculator would also be needed to double check yourself.

If you want to save some money and get out of debt, you need to know where you stand financially. The only way to do this is to track your money from month to month as it comes and goes.

Tracking your money coming in.

The easiest way is to take a page and write down the amount of money coming in. As the month goes by, write down each amount with the date you received it. It is salary or any other resource you may get. Keep everything in a column so you can add up your total at the end of the month.

Now about the money going out.

Once you’ve spent the money, you’ll want to do the same thing on a separate page. Write down the amount with the date and what it was for. You’ll want to keep track of all the money that goes out. If you give yourself spending money with each paycheck, write it down as well. You have to count every cent. Even money spent on a credit card.

If you want, you can take your spending sheet and divide it into different columns. Make a column for your house or apartment, one for your food consumption, one for the money you take out, and any other columns you might want to keep separate. This will help you estimate your consumption on the go.

Now that you have a month of record keeping, you can add all your money, add all your spending, take your money, and subtract your money from it. This will tell you where you stand financially.

If the number is positive, you spend less than you earn. This is a good thing. If the number is negative, you are spending more than you are earning. Look at the credit card column for this reason. This is where most people get into trouble.

It’s a very easy way to start budgeting your money. It’s half health to begin with. When you know where all your money is coming from and going, you can take action to improve your financial future.

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