Benefits of knowing your total spending and saving amount yearly.

[CALVINDOL]

It is no longer anything new that majority of individuals are so addicted to the act of spending outside the specified amount of money meant for their spending . And the result of these is that they keep on getting addicted to extravagantly spending of money and they have nothing positive or rewarding to show for it and they have no savings and investment plans at all . Some people are not even convinced that the amount of money they spend in a particular year is so far enough than the amount of money they invest and save in the same specified year . Talking about the act of knowing the amount of money that you have spend and save in a particular year for the purpose of carrying out certain responsibilities and other future unforeseen occurrences and individual can definitely put it into good use and good effort to find out the amount of money he or she spends and save each year .



Literally there are two ways an individual can totally accomplished this first of all he or she may find a record book so as to successfully and adequately record every transaction that he or she carries out each year and secondly he or she can use a mobile banking app that totally tells him or her by giving him or her cautions and alert so as to notify when he or she exceeds spending limits . The goal in financial accumulation is always to save and invest more money in as much as we spend , and by far the saving and investing of money is more important than the actual spending of money .

 

[TOZZIBLINKZ]

Some individuals are more likely to spend beyond the amount of money that they are supposed to spend and some individuals on the other hand they may be wondering whether they are saving enough money as they should or possibly they are unawarely spending your money on things that are not worthy of their spending income . In order to be sure that you are spending and saving the right amount of money it is totally advised to watch the amount of money you spend and safe and one of the best way to do so is by keeping an eye on every amount of money you spend to buy an asset or a property or any amount of money you save for future unexpected occurrences and circumstances .

Literally there are two ways an individual can totally watch his or her spending and saving habits but one of the best way to do so is by creating a notebook possibly in your smartphone or any physical notebook at all and endeavour to always tablets the amount of money are located out of your personal income for the purpose of spending and saving activities .

 

[Sotherefore]

It will be a nice idea if a person is able to plan and know the amount of money he is making on yearly basis and also the amount of money he is spending on yearly basis , maybe this will help individual to really understand if they are spending so much than what they are saving . Savings is very important most especially for people that have plans for the future .

Sometimes tracking all those things as a busy person is not always easy , that is why personally I will choose not to follow it that way , but I rather look for a way to understand my monthly spending limit based on the amount of money I earn on monthly basis..

If this can be properly done it will help us analyse the right way to live and have a better savings if we find out that our spending is much more than normal.

 

[Mastergp]

Make Money com



From my own opinion I think it important to know your total spending and saving each year, every one has different job that they all engage in and also have different income rate or value, so it won't be right to spend just because Mr A is spending much but first consider if his saving is enough to purchase what he or she want

Each person need to have a budget for what he need to achieve though unexpected activities or event can occur but one should never forget what is main target for the year should be, many people usually hold big parties, marriages, weddings without considering what their savings look like, most spend lot of their money on cloth, bags, home asset etc this fact has become the order of the day, but when we know the level of spending we have in a year and saving we have it will help us to make needed adjustment before things get out of hands most times occupation we engage in make not be paying well as it was expected to so done need to consider his or her salaries payment and use it to attend mostly wat he need not wat he want.