Budget & Spending Tracker

To manage money properly it is very important to work seriously on your budget. Budget is something which should be understood and accepted with all the key family members. When you work on your expenses without having any budget, it is most likely you go on short of cash by end of the month if you are an average income earner. Even big companies and big countries in this world, do proper budgeting before starting any financial year. It is also made informed to every one in the country and shareholders to be aware in advance

Budgeting is one of the ways to save and invest for future. First day or the starting day of the month should have the mandatory task or time allotted for this budgeting. Once the budget is accepted with the key family members, it is also advisable to re-visit every week to check where we are and if we go over spending at some point or in any particular item, it is necessary to take action immediately. Budgeting should be taken very seriously when we are focusing on the wealth generation. Irrespective of the income we get, budgeting is important. It doesn't matter, if you earn Rs. 10,000 or Rs. 10,000 Crores, budgeting is important

Budget checklist update or the spending tracker updation should be the last and important item in our daily to-do list to monitor the budgets properly and to stay focused. Before going to sleep it is important to visit this page and update expenses and income. Staying very focused on the spending tracker is the simplest way for saving and to keep invested. Having said that, it is the simplest way but not the easiest. We need to have very high level of discipline and focus to have this maintained properly. One should not cheat ourself and ignore updating any small expenses we made on the day. Even a small amount of Rs. 10 being updated on this spending tracker is important

When we start following the habit of budgeting or spending tracker process, we will knowingly or unknowingly will cut down all the unnecessary expenses which we made in the past. This will eventually look like we are saving a huge amount over a period of time and if those are invested properly, it is the wealth generation process

There are many applications available in play store to track and maintain the budget and expenses. We can even download one of the best and easy to use application and start maintaining it. Again, it should be done irrespective of our income to save and invest wisely. We have done this process and we have noticed we are spending unnecessarily in certain space and we trimmed / deleted that in our budget and it took us in an organized path of financial management

The way of budgeting and spending tracker maintenance is not a new process of financial management. It was followed by our ancestors years ago. Now, in this fast world people ignore doing this. This is the main reason for poorly managing finance and travelling opposite of wealth generation. I wish everyone do this budgeting part effectively and follow the spending tracker process to gain abundance wealth.

Have a Great Day

B G Nareshkumar