![]() This spreadsheet will probably work for the next decades, with some updates now and then as the computer programs that we use, change.Īlso, understanding spreadsheets can be a very useful tool. Mint can become useless to you at some point, because it doesn't exist anymore or because it can't connect to one of your financial institutions anymore or because it starts making errors too often. I can't use Mint because I live in a country where it doesn't exist. This just gave me more ideas to add to my yearly tracking. You don't ever have to give up your pleasures, but it sure is enjoyable watching your accounts change faster than ever. I enjoy seeing it all move around, while still saving in discretionary funds for vacations and hobbies. Now I have a forecast that'll get me out of student loans and my car loan in 19 more months versus the anticipated decade it would have taken. You don't have to stop enjoying yourself, you just have to better allocate your funds so you can get the most out of your money. I didn't realize eating out instead of bringing lunch 3/5 days a week was costing $250 a month. Until I started it I had no idea I was spending almost $400 a month just going to breweries, which was unnecessary. Excel is powerful, giving you insight into how much you're spending. I track every expense, on every account, every loan, every retirement and savings account, FICO score changes and utilities monthly. Maybe the alternative costs you your sanity - no one 'goes postal' because they are too relaxed. But there may come a day that she feels enough is enough and she can quit without fear, stress or worry. If we were reliant on the income (she comprises of over 55% of the HHI), then it would be a much different dynamic for her knowing she HAD to face going to work everyday. My wife, for example, is starting to have lower workplace satisfaction due to a recent corporate takeover. Plus you can 'buy' your way out of other stressful situations. The stress of a seemingly hopeless financial situation is difficult. I have made similar but trimmed down spreadsheets and I feel it has given me a better understanding and appreciation for the value of my time, focus in terms of what financial goals I would like to achieve and I rather enjoy the modeling aspect.Įdit: And I'd argue that being strong financially contributes to your health. By accumulating more, the spreadsheet is a tool that may help him achieve this, he and his family can pursue interests that may be otherwise unavailable to them. The opportunities available to you are limited in part by money anyways. As the article goes on, he talks about how he loves doing this and it's consumed a better part of his time.ĭon't think that you have to make a herculean effort just like he has, but do consider keeping an eye on your income and expenses. He didn't like how inefficient his first attempts were, so he improved on it and he was happy that he was getting better at it. ![]() All in an attempt to be a good steward of my wealth and use it in better ways. ![]() I started to actually enjoy inputting my receipts into the excel spreadsheet and balancing it with what my bank accounts said. You don't need to split it up into as many categories as he has.Īfter a month of recording every expense, I came up with a spreadsheet that let me track things easier than writing them down on graph paper. I saw that in the article, think it sums up the entire point of the spreadsheet. If you do not measure, there is no feedback to improve upon. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.ĭuring my MBA program, the most important thing I learned was that you can only manage things which you measure. Get your financial house in order, learn how to better manage your money, and invest for your future.
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