Tracking Expenses to Build Wealth
One thing that I love reading is how different people are building personal wealth. It is really encouraging for me to read CNN Money's "Millionaire in the Making. As if I don't need the extra motivation, I notice that most everyone that is building wealth is tracking their expenses very carefully. As I mentioned in a previous post, we are really wanting to track better what we spend via Quicken, but it seems easier said than done.
I guess another way that we could build wealth is just stop spending. It is really amazing to see how some seemingly poor people have gifted millions of dollars to charity. I'm not sure I'm willing to live the lifestyle of a hobo, but it sure has worked to build wealth for some.
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FrugalGirl has a great post about gas prices. In our area, we are now paying close to $2.50 per gallon...yes, that is regular gas that I pump myself. Most of my gas (at least for work) is reimbursed at the federal rate of 40.5 cents ... Read
I'm really struggling to find a way to budget effectively. We do use Quicken to balance our checkbook...for the most part it is pretty accurate. I haven't reconciled for about 5-6 months, so it could be a little off. I'm really motiviated right now to ... Read
both the standard versions of quicken and money are not sophysicated enough in their budget functions. You may feel a lot of frustration in using them. but no matter what, don't give up. Budgeting is the key to take control of your finances, to become debt free and start to accumulate wealth.
I personally use excel spreadsheet as a complementary to Money's budget.
