What are those Accounts for?
You should create this virtual money account for everything where you have your money stored.
- Bank Account 🏦
- Wallet (everyone has usually only one) 💵
But you can also invest your money, right? Did you buy gold? Then create an account called Gold. Do you invest to stocks? Did you buy a house/flat/apartment to rent? Write it down as well, because you are probably able to sell it and that means, you can get that money back! It is still your money.
- Gold 🥇
- Stocks 📈
- Flat 🏠
Adjust them regularly
It is not necessary to write down everything you spend. Did you buy anything for $2? You don’t have to write it down as long as you don’t care about seeing where your money goes (categories). You will adjust that later.
Do you just want to know how much money you have together?
If you spend 5/10 minutes a month to go through all of your accounts and adjust them you will see this information directly on a dashboard screen.
Originally published on Savee’s blog.