Tracking your personal/household budget

[Ayojesu]

its a good thing to do consistently, so that you can enforce accountability and you can know where you are lacking, and it also helps to stay focused on what matters most when it comes to your household upkeep, so that you can tailor your earnings to cater for your needs

 

[Shortie]

Yes, I always keep track of my monthly incoming and outgoings to ensure that I never go over budget and ensure that I would still have money left over at the end of the month just in case anything comes up. Being able to keep track of both incoming and outgoings helps me feel more confident in myself and less stressed throughout the month, the only worry I have especially at the moment with the rising inflation and the cost of living is that anything can increase without warning, tracking my spending also ensures that I have enough if something does all of a sudden increase in price.

 

[Alisco]

Tracking my house expenses is very easy because I have a fix budget of my monthly shopping. I normally used to order for regular needs from a list of fixed items with there Price's attached. Do you think having a fix items budget is a good method of tracking expenditures?

 

[Shortie]

Tracking my house expenses is very easy because I have a fix budget of my monthly shopping. I normally used to order for regular needs from a list of fixed items with there Price's attached. Do you think having a fix items budget is a good method of tracking expenditures?

Having a fixed items budget is definitely a good way of tracking your expenditures for sure, the only issue you may run into is if something you did budget for may have gone up in price but that doesn't always mean it will knock your budget well out, it just means that you may be paying a little bit more than what you already had written down for your budget. Having a fixed items budget will give you an estimate of how much you would need for say a month and as long as you leave something over after your budget is complete, you have that excess that will cover any price increases.

 

[Alisco]

Having a fixed items budget is definitely a good way of tracking your expenditures for sure, the only issue you may run into is if something you did budget for may have gone up in price but that doesn't always mean it will knock your budget well out, it just means that you may be paying a little bit more than what you already had written down for your budget. Having a fixed items budget will give you an estimate of how much you would need for say a month and as long as you leave something over after your budget is complete, you have that excess that will cover any price increases.

Definitely, that's the strategy I have been using since when I was in the university,it has really helped me knowing how much money I will demand from my parents to settle my expenditures.

 

[Genie011]

I try as much as possible to keep track of my budget and I always try to budget my potential spendings for every month.
This has really helped me to control excessive spending.