Always keep a spending record.

[Dr.Bitcoin_Strange]

 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?

[SamReomo]

. Do you keep records of your spending or you only do budgeting?

Well, I'm not into record keeping of my spending but I'm more into budgeting. I always use budgeting when it comes to spending my money and it always helps me. But, I'm thinking that record keeping of my spending could be a good thing that I might consider in future.

[0t3p0t]

1. Do you keep records of your spending or you only do budgeting?
 2. Do you think that record keeping is also good as budgeting?

1. Sometimes but I take reviews on the record of my spending just to observe what I did wrong with things that just my wants and not my needs. Sometimes when we are outside buying things we may pick and pick things not included on our list and that would add up to the budget so yeah that is the reason why I double check records so I have ideas to improve next time I go shopping.

2. Well yeah as I said above records can be very important for our assessment whether we have had unnecessary things that needs to be eliminated next time and that could possibly lower our spending and that is a form of budgetting.

[Crwth]

I agree with this because it is important to know where your money is going and keep track of it, whether you are using an app or a spreadsheet. As long as you know the categories, you will be more adept and conscious of where you are spending.

Implementing it in crypto would be challenging. That’s why I only do my stuff and track the spending on my card

[electronicash]

this is what receipts are for. some people just compile them but maybe adding them on the spreadsheet to view them for a summary of the spending. this is where you see where the money goes and may be able to decide which to lessen the budget.

lets say you spent more on beers than the breakfast for your kids because every morning they only eat cereals. maybe every other day preparing them omelette and bacon will make a difference in their class performance.     less beer for week days, maybe just week ends.

[JoyMarsha]

1. Do you keep records of your spending or you only do budgeting?

[/quote]Since I normally have a budget plan of the amount to spend every week, I don't see any reason to keep record of what I have spend. I don't see the need for that anyway, since I am spending the amount budgeted for the week wisely, not lavishly. When someone budgeted money is spend wisely, they will find the need not to begin to keep record of it because it's not necessary.

[Hatchy]

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?

My own idea of budget is that it's a way to make plans of the thing you might be needing to purchase on the long run and how much you should be preparing to spend on them. It's different from keeping a spending record that because you can spend most times without even budgeting for it and then When you have no records, you might not know how you spent your funds and probably thinking you lost them on the way or something. I do keep record, when I make large purchases that I have already budgeted for. But for smaller items I just know I would still buy them lon a regular bases, so I don't keep records.

[Agbe]

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?

Having a spending record is also as important as having a budget, I went through your points and I must say that they are very sound and agreeable. A lot of people spend without keeping track of their expenditures and at the end of the day they start feeling like they threw their money away but whereas it was spent on something. After having a budget list you can also checkmate what you achieved on the budget instead of making another List of spending record although while making a budget they might be some contingencies, the prices of might be slightly increased or you might decide to make some changes, having a spending record isn't going to be a bad idea due to this contingencies

[Gurujebs]

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?

I budget what I spend every month and break it further down to weekly and this help me know my limit on spending. Without budgeting what I spend weekly, I observe that the money I keep for expenditures on savings doesn't tally, at the end I even get confused because I will calculate everything and still found out like I didn't spend but the money are no where to be found.

I'm not sure about the record keeping but sometimes as a human being, there are some spending you don't even expect especially when you have too much liability around you. Remember there are days you will spend on your health and there is no way you will know exactly what to spend on your health issues, sometimes you also make donations you don't plan sometimes unless you included it on your budget.

[Dr.Bitcoin_Strange]

. Do you keep records of your spending or you only do budgeting?

Well, I'm not into record keeping of my spending but I'm more into budgeting. I always use budgeting when it comes to spending my money and it always helps me. But, I'm thinking that record keeping of my spending could be a good thing that I might consider in future.

Budgeting is also a pretty great way to also track your spending, especially for people are always busy or choked with activities, because when you’ve got piles of activities lining up in your schedule, you can barely squeeze in the time to start recording. The only difference between the both concepts or types of tracking your spending is that, while budgeting could be seen as an alternatively great way to track your spending, it may not give you an exact track record of your spending, it can only give you a range of how much money you spend on that particular expenses within a particular range of time or interval, but when you manage to squeeze in time into your busy schedule to record your spending, you’ll be getting an accurate track record of your spending, thereby avoiding overspending or underspending in some cases.

[Rruchi man]

. Do you think that record keeping is also good as budgeting?

Keeping track of how much you've spent by having a spending record can help you spend less and be more conscious of impulse buying, which is a challenge that most people face whenever they have a lot of money in their hands that they feel is sufficient for their wants.

A spending record can help you keep in check your spending habits so that you do not try to spend more money today than you did yesterday unless it is totally unavoidable.

[Findingnemo]

I plan things and I'll make sure I stick with it, so yeah keeping the record of spending is necessary if you want to avoid unnecessary spendings and it also gives you an idea where you have been spending your money and who knows you maybe spending on something more than you expected to be.

But it's just a part and it will becomes a habit and no need to do anything extra once you follow it for few weeks.

[Sim_card]

I don't keep rvord of my spending budget because I think that it is irrelevant since money spent is gone whether you spend it wisely on not. From your spending budget it means that you have written down the important things that you want to do with your money and whatever expenses that is not recorded is known as miscellaneous spending. I doubt that anyone will finding writing down every penny that leaves his pocket out funny. It is easu said than done because money that you spent on petty things is not important to record.

[Dr.Bitcoin_Strange]

Keeping track of how much you've spent by having a spending record can help you spend less and be more conscious of impulse buying, which is a challenge that most people face whenever they have a lot of money in their hands that they feel is sufficient for their wants.

A spending record can help you keep in check your spending habits so that you do not try to spend more money today than you did yesterday unless it is totally unavoidable.

Indeed, overspending and understanding is sometimes the biggest problem some people face, and one effective way to tackle this particular is situation would be to keep track of your spending habit, by doing this, you’ll be able to know exactly how and where your money goes and then possibly make readjustments when/where needed.
You’re als very correct, a lot of people end up buying things they don’t even need and probably won’t even make use of, and all this is simply because they fail to keep a proper record of their spending, maybe they just budget particular amount for shopping or accessories, and due to the fact that there’s still money left in the budget, and rather than putting the money to cover another expense, you’ll see them lavishing the money on irrelevances

[albon]

Generally i belong to a middle class family due to which i have to keep track of income and expenses. After i keep a record of expenses i set a budget. Since i am involved in crypto investing so i keep aside as a budget the amount of money needed to manage life. Then extra money i can spend in crypto invest.
On the other hand the record keeping is definitely better and more effective for middle class and poor people If my income is low then i have to keep the spending budget low. Let's say if i budget $100 in expenses for the current month, that needs to be recorded. It is definitely better to keep a record of how and where i spend so that i don't face new problems next month.