I would like to share you this one useful application that I use in tracking my expenses and income.
You can look for it on "Google Apps Mobile" it called "Money Lover"
Basically I used this app as a monitoring system. There's a little bit time involve in putting the numbers but I tell you it's worth it.
You may wonder where all your income does going. Our "kababayan" fellow Filipino may thought of where their hard earn money goes? This application might just help.
The figure above is my income expenses the past 3 months up to now. All are accumulated from the food we eat and transportation expenses for the period you want to cover.
The objective is a complete awareness of the expenses so that it might remind you that you are on your limit. It will also help see the categories of where your income is going and coming from.
Once you had a habit of putting the numbers. You can do budgeting and have a total awareness of not getting your finance into trouble.
These would require further reading and understanding on the topic of finance. Learning what is asset from liabilities to wants and needs to good debt and bad debt.
In summary you'll learn the ff:
1. Gives you an understanding where the most expenses is going. So that you can already allocate it the following month. In my personal experience when I started using it I notice somehow the money that was coming through was decent enough but the problem is it's just passing by in your hands. That's why it will gives you the idea. You may post your personal experience in the comment box.
2. The app will show you the numbers and giving you an idea of how to budget and where to put in the extra money after all the bills and necessary miscellaneous are paid. After it gives me the idea of the figures, that's where I started allocating where the money will work for me.
3. Finally giving you the ability to control your finances and avoiding into debt. Then lastly you will see the big picture of the whole cashflow. Remember you're the one who's in control the finance.
These are just step to financial literacy and to financial freedom. If you really pursuing the idea there's no harm of trying this tool.
Hopefully I gave you one useful tool. Don't forget to subscribe to receive new contents and learning.
