I set financial goals for every area of my life. Goals are good as they keep you on target. Never underestimate the power of goal setting. When you look at your goals versus your results, you can then start to make changes in your negative financial habits and behaviour to get back on target.
One negative habit I used to have was always carrying my bank cards or cash on me, whenever I went out. I found that there was was always a reason to spend lots of money. Now I leave my cards and money at home, therefore I can't buy on impulse. I found this to be the biggest factor which allowed me to stick to my spending budget each month. Some of my friends can't believe that I don't carry money on me at all times, but they are the ones who always get more and more into debt each year.
The software I use to do my accounts is a simple, basic spreadsheet. (MS Excel or OpenOffice Calc) It's simple and convenient, and there is no need for more expensive software. I just enter in my totals every month and the software calculates my financial position. Keeping track of your finances lets you see how close you are to attaining your goals.
Formula One racing car teams analyse the data of their cars performance during and after each race, and make adjustments. They call this telemetry. By keeping track of your saving and spending habits, using a spreadsheet, and setting goals, you can have your own financial telemetry.
One negative habit I used to have was always carrying my bank cards or cash on me, whenever I went out. I found that there was was always a reason to spend lots of money. Now I leave my cards and money at home, therefore I can't buy on impulse. I found this to be the biggest factor which allowed me to stick to my spending budget each month. Some of my friends can't believe that I don't carry money on me at all times, but they are the ones who always get more and more into debt each year.
The software I use to do my accounts is a simple, basic spreadsheet. (MS Excel or OpenOffice Calc) It's simple and convenient, and there is no need for more expensive software. I just enter in my totals every month and the software calculates my financial position. Keeping track of your finances lets you see how close you are to attaining your goals.
Formula One racing car teams analyse the data of their cars performance during and after each race, and make adjustments. They call this telemetry. By keeping track of your saving and spending habits, using a spreadsheet, and setting goals, you can have your own financial telemetry.
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