facebookHi I've been reading your blog and was wondering, do you have any system to recommend tracking of your finances? To what extent do you recommend keeping track of these? - Seedly

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Anonymous

18 Apr 2019

Random

Hi I've been reading your blog and was wondering, do you have any system to recommend tracking of your finances? To what extent do you recommend keeping track of these?

In terms of how much of your monthly salary enters your savings account, how much enters your investments, how much is currently in said accounts, etc.

I understand that maintaining exact numbers on an excel sheet might be impractical. To what extent do you recommend keeping track of these?

Discussion (4)

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Kenneth Lou

22 Oct 2018

Co-founder at Seedly

Hey! To be honest, I'm also a very 'lazy type of Personal finance management person'. So this is what I personally really recommend doing:

  1. Spend one weekend to look at all your finances (income, outflow, cashflow)
  2. Set a rule. Eg on payday 25th, move 50% to your expense account via GIRO, and 30% to savings and 20% to investments (RSP)
  3. Then every monday just sync your Seedly app 1 x or if you have only one account, just login to your bank app once to see you are not overspending

That's about it! only 3 things to do. And takes you less than 1 hour each month. I gurantee it. :)

You can try Seedly's mobile app!

Personally, I use an excel sheet that I created myself. Doesn't take much time to build it up, and i only update it once a month. I think it is practical :)

Myself personally, I'm currently tracking every expense on an excel sheet to determine the health of...

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