Different Ways to Track Your Finances

I already talked about why it is important to track your finances, but what we are missing is the how and different ways to do this activity. Unless your brain is an ultimate computer that can store and add everything up, you will need a method to keep all of the buying and purchasing madness in line. This can be done in a variety of ways and depending on ones’ personality, it will differ from one person to the next. Because of this, I will give you a few of the different ways I know how to track your spending and income.

Use Excel or Google Docs To Track

I put using Excel or Google Docs at the top of my list because this is the method I use on a monthly basis to track all of my families spending and income. It is an easy way for me to modify from month to month if we have to, and also an easy way to see everything in one spot. I can also compare what I budgeted for the month to what we actually spent. This is helpful to know where we over and under spent for the month.

This method can be to manual for some people because you have to manually log every purchase you make. For me, all of my expenses come out of one account which makes it easy to follow and track. This financial tracking method has proven to be the best working way to track our finances as a family.

Use a Notebook or Pad of Paper

This is about as simple as it can get, but a very effective way to get started on your financial journey. In the beginning, I am a firm believer that everyone should start this way. Everyone knows how to write and paper is pretty much everywhere. If you don’t have a sheet just drive down the street and pick one up off the side of the road.

By writing down every expense it hits a different nerve because when you start there will be things that you have to write down that you really won’t want to. Sometimes we like to hide those six $5 dollar coffees throughout the week. If it hurts when you have to write it down, this is a clear indication you might want to cut back on that expense. Pen and Paper is all you need here.

Use Mint.com

Mint.com is a free App where you can create a budget inside. When you sign up, you can also link any of your bank accounts you use to the app which can help with tracking your expenses and your income.

This app is fairly easy to use and easy to create a tracking system with. There are paid versions of the app as well if the free version is not enough capability for your. I have use the free version and think this is a very clean and effective way to track your finances.

YNAB to Track your Finance

YNAB is a pretty cool and easy to use app for tracking your finances. They have a ton of videos for people to watch on how to use the app and on finances in general. This app comes with a free trial which is good for starters, but then goes into a paid version. The paid version is $99 per year or$14.99 per month.

Full disclosure here, I have never used this app, but I know many who do and love it. It is easy for them to use and change from month to month. With this app, you are also able to link your accounts to make tracking each expense easier.

EveryDollar with Ramsey Solutions

If you have ever heard of Dave Ramsey and listened to him for any duration of time, you probably heard about the EveryDollar app. This app was specifically designed for those who want to get their finances together and get their money in order.

When you sign up for this app there is a free option, but it comes with limited capabilities. There is a premium option as well that is around $13 dollars a month or $80 dollars for a yearly plan. EveryDollar has been around for a long time and has been proven by the thousands of fans Dave Ramsey has.

All Finance Trackers

Now you have 5 different options to choose from and there are more out there if you really start looking. I think each financial tracker is good and it will depend on the person who uses them to decide which one is best for their family.

The biggest deal is to track your money. I don’t know how people live without it at this point in my life. The stress I would have over money would be massive if I didn’t know exactly where my money goes each month.

If you need more guidance….

In your finance or your life and not sure where to start. Hit me up and I will get you on the right track. Helping people is where my heart lights up every single time.

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