When one first starts to feel the need for a personal finance overhaul? It does not happen while just starting in a job. The need for organizing finances creeps in after few years on the job. It’s the time when one is wondering where the money is going? This query starts a chain of thoughts in our minds. Eventually, we realize…
I’m a firm believer of the concept of tracking all expenses. If financial independence is the ultimate goal, then tracking expenses is first step which can lead us there. 50/30/20 budgeting rule is the foundation based on which the expense tracking tool will work. If you need to improve your personal finance, then start with…
“What is the need of money management; after all we earn money only to spend it one day”. I was trying to be ironic. But I’m also sure that many will not find my statement ‘wrong‘. Read more about paycheck to paycheck lifestyle. Most of us actually earn money only to support our expenses of…
There is an interesting report of World Bank on consumer spending habits of developing nations. It also gives detailed numbers on where do people spend money in India. A report like this gives a nice visualisation of how Indians (and other population across the globe) spend their money. Though the report is dated 2010 but…
Why do we pay taxes? The tax paid by us becomes a receipt (income) for the government of India. They use the receipts to fund essential expenses like defence, police, judiciary, public health, infrastructure etc. But you will be surprised to note that almost one quarter (23.31%) of the total government expense is spent on…
If you want to start your expense tracking from today, you’ve landed on the right page. Here not only you will learn about expense tracking, but you can also download a tool to start doing it today. What is this tool? This is my budgeting and expense tracking Excel-based worksheet. It is a unique tool…
One of the most underrated activity is ‘expense management’. We tend to focus more on income generation, and less on ‘managing expenses’. Why? [Read: About an Excel based tool which can budget & track expenses] The reason is perhaps simple. We tend to give more importance to things which are harder to get. Earning Money:…
What is your daily expense? Have you every tried to calculate the quantum of it? How to calculate daily expense? Realisation of the quantum of daily expense is both interesting and important. Just the realisation of this number will help you keep a check on your unnecessary expenses. How? We will see in this blog post……
