We all know an overview of our income and expenses is very important to financial health. To help us see our finances more clearly, the personal finance software company Quicken has now eliminated their online access fees. Anyone can now open a free personal account online and begin tracking their income and expenses.
Much of what we spend or not spend our money on comes from our gut feeling. But to really see what we could change in our spending habits, we need to see where our money is going. There really is no other way around it. In Quicken they group our personal spending expenses into major categories, such as housing, food, and entertainment. We can then compare our personal pie chart with the recommended spending pie chart that I had recently talked about in How Does Your Household Budget Compare to What's Recommended? Try CNBC's Budget Calculator.
Please remember that the recommended pie chart at CNBC should really only serve as a guideline. Expense percentages are going to vary, depending upon the size of your family, any health situations, even what type of business attire you have to wear, for example.
Please let me know how you feel about this.
Source: Lifehacker
I have owned my own company for more years then I care to count. I have always used an accounting program for my business. However I am ashamed to say that up until a few years ago I didn’t use one for my personal expenditures. It was an eye opening experience when I did. It is amazing how we nickel and dime ourselves to death. But how do you know if you’re not tracking it. Well needless to say I definitely changed my spending habits and I actually started saving money, Like in a real savings account. Quicken is an excellent tool to help you do this.
Posted by: Teresa Ayers | October 28, 2008 at 03:00 PM