Posted by: jinoe | September 6, 2007

My Road to Riches – Keeping records

I was tagged by jetskee to give just one advice on personal finance.

I am not an expert.  I don’t even stick to my own rules.  So my advice would come from other sources that I have read, seen or heard.  And here is my advice:  Keep a record of cash flows and a budget.

I believe that this is the first step to personal finance.  I have an excel file which I update regulary, typically once a week.  The excel file has the list of my expenses like rents, bills, food and entertainment.  By taking note of each expenses, I was able to understand exactly where my money is going.  From here, I can see where I am overspending and control it.  Without a cash flow, I would often wonder why I no longer have money on my wallet and I have to make my third withdrawal for the day.

From the excel file, I am also able to define my budget per month.  As much as possible, I make sure I follow my budget.  But I have to admit I miss on some items like groceries, eat out, and entertainment.  I would often overspend on these items.  And this is an area I need to improve.

This is my advice.  After using it, I can say it has helped me manage my finances better and avoided a few pitfalls.  I hope it you’d also use it and benefit more from it.



  1. Great advice! I do this too!

  2. Gavan! I miz yah! how are you na pareh! hehehehe

    i used to have columnar book as my finance status recorder. hehehehe it wouldn’t work gd. you are correct, mga food and grociers daw la nadala.

    what is more important cguro is you know kung din gakadto money mo. davah?

  3. Hey Jinoe 🙂

    This is a good one though I don’t practice such…I only have one rule and that is to pay in cash…pero syempre indi man masunod eh..swipe lang ng swipe hahaha

  4. This is good advice 🙂 ”Good mistakes have strong efforts but seemingly bad results. Bad mistakes have sloppy mediocre efforts and bad results. Be willing to make good mistakes. And try making them early. While they are still cheap.” He!He!He! wishing you well

  5. awgawd, my lover used to do this and he also persuaded me to keep tabs too but I just don’t have it in me. =/

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: