What is the best way to track spending? use in your own words.

Answers

Pencil and Paper. Don't dismiss old school methods. Plenty of people have and still do stick to a paper budget.

There are several ways through which one can track their spending. Track spending has a key role in our total monthly expenses. One can make changes, adopt new things, get rid of miscellaneous expenses and manage income with help of tracking his spending. In tracking of spending we come to know that how much amount of the pay spent on which category. Those who keep a record of their spending, better utilize their income or pay. One can manage record of their respective spending through different ways described below:

By checking account statementBy categorizing expensesBy using a app for budget managementBy paper work, with help of paper & pencilBy making a computer expense spreed sheetBy identifying the room for changeBy Envelope system technique

These are the different techniques and methods to track spending. One can use one of them or more to keep a record of their spending. Its about the people preference, that what they choose to maintain a record of their spending. In the very start people use pen and paper method, in which they categories their spending and write per day spending accordingly, and by the end of month they sums up their expenses to calculate their total amount of spending. Now computer and cellphones took place of paper and pen. The most frequent way of track spending is using a budget app and computer spreadsheets.



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