Financial freedom begins with personal accountability, which means keeping track of your finances by yourself. Tracking means knowing what you have left after each expenditure. Doing this takes sacrifice because you have to stop and add an expenditure each time it happens!
Financial freedom begins with personal accountability, which means keeping track of your finances by yourself. Tracking means knowing what you have left after each expenditure. Doing this takes sacrifice because you have to stop and add an expenditure each time it happens! Services like Mint.com provide a way to see what you have spent, but it takes out a crucial step that should not be given to machines.Studies have shown that writing things down improves one’s ability to remember! Take goals, for instance. Having a goal is good. Writing down a goal is better. Writing it down and reviewing it frequently is best! Money tracking softwares that report how much money you have are like the goals you wrote down and never looked at again. They stay somewhere in the back of your mind and resurface from time to time. That is not successful planning, tracking, and comparing. That is not money mastery.