Posted: 25 Jun 2008 09:41 PM CDT

It’s coming close to the end of June 2008 and I’ve been recording my inflows and outflows of money dutifully with my Excel worksheet. 83% or so of June has gone and I’ve clocked up 80% outflows of my take-home pay. Scary indeed. This month’s expenditure was boosted by a one-off payment but still that’s life!

The value of recording has been to put my spending clearly in front of my consciousness. No ambiguity, no vagueness, no excuses. I have spent $x,xxx and it is there on paper. It is not about good or bad. It is about alignment to my values, beliefs and whole attitude towards building myself an investible net worth that is condusive for generating sufficient passive income for financial freedom.

I am looking forward to the month-end analysis of how much of my money goes to coffee, gazingpins (a “Your Money or Your Life” reference to those knick-knacks we buy on impulse but never use), and other expenses in my life.

How do you track your daily income and expenditure? Leave a comment and share with the good folks here at fivecentstencents.

Be well and prosper.

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