PERSONAL FINANCE
Personal Finance 101: An Easy Guide to Building A Budgeting and Expense Tracking Tool
Tracking expenses is the first step in financial literacy.
According to CareerBuilder, 78% of Americans live paycheck to paycheck.
This number may be exacerbated by the recent recession, which has resulted in millions of people not receiving their paycheck.
What can you do about it? How about you track your expenses and start a budget?
Tracking expenses is essential, it will help you gain awareness about your spending habits, and therefore, it will support you to optimize your spending. Expense tracking will answer the oldest question in finance — Where did the money go?
Budgeting allows you to allocate each dollar of your hard-earned money to a specific role. Budgeting empowers you to start an emergency fund, pay back debt, save for that downpayment, and many more.
There are many apps out there, which help in tracking expenses and budgeting. But, these apps cost money, are not tailored specifically for you, and can’t be updated easily if something changed in your financial situation.
