Always keep a spending record.

[Chingum]

How well do you agree that keeping a spending records is very important as making a spending budget? Some people believes that making a spending budget is same thing as keeping records but I don't agree.

Budgeting helps to guide us on how to, what to, when to and where to spend our money but record keeping helps in taking and keep a detailed information of what the money was actually spent on. We can keep record as long as we want but we can only budget based on our weekly, monthly or yearly income. Records can be stored for so many years and one can still reflect back to them any time you want.

My questions are;
. Do you keep records of your spending or you only do budgeting?
. Do you think that record keeping is also good as budgeting?

In my own case, i keep the record of my spending and also do budgeting too, following such steps it's really helping me on how to plan, schedule my spending and on how to trace my spend money. without it i think i may have been lost in planning my affairs about my income.
Many individual have lost track on how much they have earn or spend for a particular period because of lack of keeping record and also budgeting, which have lead to financial embarrassment and for that they have lost the trace of their assets. many might not know the useful purpose of it now but holding on to it might help us in the future.

[Roseline492]

In my own case, i keep the record of my spending and also do budgeting too, following such steps it's really helping me on how to plan, schedule my spending and on how to trace my spend money. without it i think i may have been lost in planning my affairs about my income.
Many individual have lost track on how much they have earn or spend for a particular period because of lack of keeping record and also budgeting, which have lead to financial embarrassment and for that they have lost the trace of their assets. many might not know the useful purpose of it now but holding on to it might help us in the future.

I mostly keep record even before spending because if for example I want to buy something, I will first of all no the price and if there are more others I will also get their prices and make a budget for them, so before going to the shop I have already recorded the amount I will spent and if peradventure i made an expenditure more than my budget based on how I found out other things I might be needing I will definitely add it as I'm returning back because there is nothing confusing as not keeping record of anything because you wouldn't no how all the money was spent.