As I begin the new year, I have decided to go back to the basics of paper and pencil instead of using a software program for the purpose of monthly budgeting. I spent a great deal of time on Pinterest trying to determine which would be the best way for me to track my income and expenses. I have put together a Budget Binder. Included in the budget binder is the monthly budget worksheets, a “ledger” for all of my bank accounts and investments. One other thing that I have included in this is a goal sheet. At the beginning of each month I write down what I did well the previous month and what I need to work on. Also, I set 4 financial goals for the upcoming month.
I feel that this will be the best way to stay on top of my daily, weekly, and monthly spending. In my opinion, I feel that writing things down manually, will help me with staying on track.
In addition, I need to keep on top of the paperwork. I found myself piling receipts everywhere and then finally taking a couple of hours a month or every couple of months to do filing and matching the receipts to statements.
What is your position with manual or computerized budgeting?