Always keep a spending record.

[0t3p0t]

I do  keep records of all my spendings so that I may be able to recall on what I've spend my resources on, having a track record of what we have done is very important, because it also helps to revert on them after some time in other to plan ahead for the future, therefore it's very important and for reference purpose, we need to keep track on what we are using our money for, same as making adequate budgeting for all to work together for good.

Yeah first reason I kept tracking things I bought is that the priorities should always be on the right spot and then the next thing is the price so I know how fast is it increasing and I know how much to bring. Bringing the exact amount will save us from spending on something that isn't important though bringing extra incase prices increases is also a smart way but having the discipline to stick to the plan is what we should always do.

[Agbe]

I do  keep records of all my spendings so that I may be able to recall on what I've spend my resources on, having a track record of what we have done is very important, because it also helps to revert on them after some time in other to plan ahead for the future, therefore it's very important and for reference purpose, we need to keep track on what we are using our money for, same as making adequate budgeting for all to work together for good.

Yeah first reason I kept tracking things I bought is that the priorities should always be on the right spot and then the next thing is the price so I know how fast is it increasing and I know how much to bring. Bringing the exact amount will save us from spending on something that isn't important though bringing extra incase prices increases is also a smart way but having the discipline to stick to the plan is what we should always do.

Record keeping can be very helpful as it helps to to keep track of your spending rate especially when it comes to things that are not important especially when it comes to things that contributes to your growth level as a human being record keeping can also serve as a way of knowing how well you have used your money so far in a positive way wether the money ment for certain projects is actually been used in the right channel or not

[Joshikinz]

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?

Well personally I mostly make use of budgeting , this is because due to the hight cost of things in the market. Without budgeting to be sincerely speaking I may no even be able to buy more than 4 items in the market.  But I personally believe than record keeping is also good because a good record keeper is a wise individual, because it helps to even know if one misplaced his money or it was stolen this is because after you are back from the market and begin to calculate the things you used your money on in juxtaposition with the twenty thousand you took to market, and you discovered that the the money is short . One can begin to trace where and how this came about. So personally speaking budgeting is better but record keeping is best and wonderful

[Dr.Bitcoin_Strange]

Well personally I mostly make use of budgeting , this is because due to the hight cost of things in the market. Without budgeting to be sincerely speaking I may no even be able to buy more than 4 items in the market.  But I personally believe than record keeping is also good because a good record keeper is a wise individual, because it helps to even know if one misplaced his money or it was stolen this is because after you are back from the market and begin to calculate the things you used your money on in juxtaposition with the twenty thousand you took to market, and you discovered that the the money is short . One can begin to trace where and how this came about. So personally speaking budgeting is better but record keeping is best and wonderful

Yeah I know that, and I also believe that record keeping is a much more effective way of managing your finances more than the said budgeting. Even before budgeting, one needs to collate data from their records in order to have an insight on how much exactly to budget on a particular thing, else you may end up spending more on something that you could’ve just spent less even after budgeting.

[Agbe]

Well personally I mostly make use of budgeting , this is because due to the hight cost of things in the market. Without budgeting to be sincerely speaking I may no even be able to buy more than 4 items in the market.  But I personally believe than record keeping is also good because a good record keeper is a wise individual, because it helps to even know if one misplaced his money or it was stolen this is because after you are back from the market and begin to calculate the things you used your money on in juxtaposition with the twenty thousand you took to market, and you discovered that the the money is short . One can begin to trace where and how this came about. So personally speaking budgeting is better but record keeping is best and wonderful

Yeah I know that, and I also believe that record keeping is a much more effective way of managing your finances more than the said budgeting. Even before budgeting, one needs to collate data from their records in order to have an insight on how much exactly to budget on a particular thing, else you may end up spending more on something that you could’ve just spent less even after budgeting.

That's true for you to have an effective budgeting system you can't take away the place of good record keeping because it's record keeping shows you how your finances are spent and where exactly the money is going so having a good record keeping is something that everyone should do, record keeping is a much better way compared to budget because it helps you to know which area of your life that more finance is going to and know which areas that is lacking so that you can have a balanced financial life

[Dr.Bitcoin_Strange]

That's true for you to have an effective budgeting system you can't take away the place of good record keeping because it's record keeping shows you how your finances are spent and where exactly the money is going so having a good record keeping is something that everyone should do, record keeping is a much better way compared to budget because it helps you to know which area of your life that more finance is going to and know which areas that is lacking so that you can have a balanced financial life

Yeah, it also helps you detect when you’re shifting from your budget, that is when you’re spending above your initial budget or when there is some sort of price change, in order for you to make every necessary adjustments where and when needed, because budgeting may not be able to detect these shifts, you’ll only know that there has suddenly become an irregularity in how you spend but you may not be able to detect exactly where, that’s another amazing benefit of record keeping.

[Chilwell]

That's true for you to have an effective budgeting system you can't take away the place of good record keeping because it's record keeping shows you how your finances are spent and where exactly the money is going so having a good record keeping is something that everyone should do, record keeping is a much better way compared to budget because it helps you to know which area of your life that more finance is going to and know which areas that is lacking so that you can have a balanced financial life

Well said, budgeting gives room for record keeping, proper budgeting provides a foundation for effective record keeping because with proper budgeting you will be able to manage your spending and purchasing things that you need for a couple of months or year, after proper budgeting you will be able to keep record of your expenses and also tackle your incomes and expenses.

[Dr.Bitcoin_Strange]

That's true for you to have an effective budgeting system you can't take away the place of good record keeping because it's record keeping shows you how your finances are spent and where exactly the money is going so having a good record keeping is something that everyone should do, record keeping is a much better way compared to budget because it helps you to know which area of your life that more finance is going to and know which areas that is lacking so that you can have a balanced financial life

Well said, budgeting gives room for record keeping, proper budgeting provides a foundation for effective record keeping because with proper budgeting you will be able to manage your spending and purchasing things that you need for a couple of months or year, after proper budgeting you will be able to keep record of your expenses and also tackle your incomes and expenses.

The important of budgeting and keeping records of our expenditure can not be over emphasized.  Especially with the kind of economic hardship that some people are facing in their country, there's a vital need for keeping record or expenditures and also making budget for every paycheck someone receives, except if the person is already very rich such that they don't care about how they spend because the money is already too much in their bank account and they also have different income means that generate more funds to them always.

[bitterguy28]

The important of budgeting and keeping records of our expenditure can not be over emphasized.  Especially with the kind of economic hardship that some people are facing in their country, there's a vital need for keeping record or expenditures and also making budget for every paycheck someone receives, except if the person is already very rich such that they don't care about how they spend because the money is already too much in their bank account and they also have different income means that generate more funds to them always.

actually i feel like the more money you have the more you should be keeping a stricter spending record you might think your money is infinite it is very easy to think that way but you should realize sooner or later your money will run dry too if you are not wise enough and your money will not grow if you continue to just spend it mindlessly

and more people can take advantage of you and your money if you do not keep a spending record

[robelneo]

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?

Keeping a record of your spending is a good idea than budgeting because you can keep track on all your spending and will try to minimize your expenses if you think that you can't reach your allocated funds.
By keeping track of your spending, you can check what the alternative products or services are to keep track of your budget. Keeping track of your spending is very important in running a business and, if applied in personal expenses you can save a lot.

[Bodhi2021]

. Do you keep records of your spending or you only do budgeting?
. Do you think that record keeping is also good as budgeting?
[/quote]

As for me, I don't keep record of my spending because I feels it's as come and go, and has far as am concerned I have already achieved what I want to buy or acquire. While budgeting, I do it because it gives me straight ideas to know what I want or what I want to purchase. But well with your explanation on record keeping, I will consider it and make it part of my life so I could be able to track what I have spend now and in future time.

[bitbit97]

With a mobile app I do track all my expenses and gained money. I dont make it very detailed, like putting down list of every food and product I buy, but I have record of major categories (food, fun, services, purchases, education, vacation, vehicle and etc). Not only it helps to balance expenses, as I see where I have already spend a lot this month, but it works as a reminder of past prices. For example I cant always check in no time how much I have paid for service (helps a lot when its car fixing time).

I have starting keeping spending record when I have met my future wife. I have started spending crazy (to make an impression), and spending record helped me to realize that I should slow down on expenses, otherwise I would go broke really fast.

[Amug123]

Record keeping is an important aspect of our daily lives because it helps us in keeping accurate pictures of our financial transactions,  and also helps in monitoring our spending habits.

[0t3p0t]

Record keeping is an important aspect of our daily lives because it helps us in keeping accurate pictures of our financial transactions,  and also helps in monitoring our spending habits.

What it helps the most is you can compare prices and total spendings from previous to present  transactions which I usually do so that I am on the right budget and item because what's on the list are what I definitely bring home no more no less not unless I have something in need that is not on the list from my previous items.

[Blaze]

Record keeping is an important aspect of our daily lives because it helps us in keeping accurate pictures of our financial transactions,  and also helps in monitoring our spending habits.

What it helps the most is you can compare prices and total spendings from previous to present  transactions which I usually do so that I am on the right budget and item because what's on the list are what I definitely bring home no more no less not unless I have something in need that is not on the list from my previous items.

It means that what you do or implement is not only controlling the amount of money that comes into your hands and spending it, but also it helps you to perform the power of decision deliberately. Whenever a person decides to follow a list that has been compiled, there is a control that is gradually established. There must be a correlation between those small decision that are trained by it and the fact that there is no space for impulse that lead to waste. It does not mean that you lock yourself from flexibility, but you always remember that needs are to stay the primary rule while moments of gluttony and passion are temporary. This way you are saving quite a lot of time and do not have to worry about one-sided judgments as you can just compare the past data to see if there is a tendency of increasing, decreasing or stabilising.