This week has been all about tracking where my money goes. This has been made easier because we’ve just moved house so council tax, utility bills and other household-related costs have been front of mind.
To make it as simple as possible to track the money in and out I’ve been using an app on my phone called ToshI. I have also used Monefy in the past and am very fond of an Excel spreadsheet. And, even better than that, my friend Emma says nothing beats good old pen and paper!
Now, I have another friend, Amanda, who does not like tracking the money going out because she believes that what she puts her attention on grows and when she did track her outgoings in the past she has ended up with larger bills than normal. Here’s what she said:
… it all comes down to how you feel. The energy behind that has a huge impact on what you manifest. For me, in the recent past with a house move and uncertainty around bills etc, tracking what was going out felt overwhelming and I started to focus on that solely and not so much on what was coming in. This led to a negative feeling and me ending up just manifesting more bills … pah!
So, that is something to be conscious of when you track your money. For me, though, tracking my outgoings as well as my income has made me much more aware of where I’m wasting money on junk food and pointless online purchases, among other things. It has also made me much more conscious of how much of a ‘gas-guzzler’ our car is!
So, why track your income and expenditure? For me, who doesn’t have a set monthly wage, it makes it easier for me to budget. For my Sister, who does have a monthly wage but also a lot of outgoings, it means she can stick to her budget. And, for both of us, it is ultimately about increasing our budgets.
Barbara Stanny, who I talked about last week, says there are three stages of financial development:
–Survival (not enough) – doing what it takes to stay afloat
–Stability (enough) – having enough to meet your needs, eliminate debt and protect your future
–Affluence (more than enough) – being able to live life on your own terms
I, for one, want to move into the affluence stage and I can only do that if I start taking money seriously. I believe that tracking my money is the first step in doing so and I heartily recommend you track your money too.