How to prepare your personal accounting sytem ?

Hye everyone 

Hope you all are doing great.

So have you ever wondered to create your personal accounting system for your personal use .

If not in this article I will help you to create one .

Here are some of the ways in which we can do it -

1.Try to Monotor your cash flows -

Now what does that mean??

It means how much your salary is how much you have earned and how much you have saved and used from it .

All the cash transactions to be recorded ,where you have spended the money on what and how much??

Because if we dont know how much money is coming in and going out in terms of saving and spending,we wont be able to manage it.

Example - use google sheets to keep the records easily and systematically.

2. Prioritize -

Set your financial goals on the basis of importance (priority)rank it from top to bottom ,top the most important and so on.

Focus on top priority the most.

Without clear financial goals one cannot know what are the sacrifices we are making and what are we working towards.

See the long run,set long run feasible plans that can be achieved within the time frame.

3. Online use -

Set all your bills ,centralize it and automatically pay them online .

4. Do some adjustments related to finance /money-

Use graphs and reports for this .

Reallocate your  budget ,cut irrelevant expenses , and use your money wisely .

So these are some of the ways in which one can prepare there own personal accountung system for personal use.

Hope you guys find this article insightful and helpful 

Stay safe

Thanks .