Money Management: Bookkeeping

Do you know how much you spent and saved every month? Do you know where did your money go? If you cannot give the answer right away, very high chance, you are working for money.

To be a master of money, you must know where your every single cent went. Only good bookkeeping habit will achieve this.

There are many money management software around that featured on helping you to record down your expenses and categorize them.

Advantages of bookkeeping will enable you to:
1. know your expenses on “needs” and “wants”. You should reduce or delay your “wants”
2. know how much do you save immediately
3. effectively allocating your fund for emergency buffer, investment or other financial items
4. have proper cash flow planning

I believe it does not need much time to do it while allow you to control your cash flow. Isn’t it great?