Have you ever found yourself asking this question?
If you have you are not alone. There are thousands of people who
find themselves looking at their bank statements or calling
their banks and asking this same exact question.
The problem is two fold. By this I mean, as consumers it is our
money so it is our duty to keep track of our finances not the
banks or anyone else. Most people lack the knowledge to
understand that we as consumer should not be calling the bank to
ask this question, we should already know the answer.
Let's discuss this a little deeper...
Why is it that most people don't keep track of their finances?
Some of the top 'excuses' I hear are:
1. Lack of time 2. "Forgetfullness" 3. Don't know!
Lack of Time
Today it is not unheard of for people to complain about not
having enough time in a day to do all of things we have to do.
Between soccer practice, doctor's appointments, and helping with
homework and all of the other things we have to do in any given
day it is no wonder we don't have the time to do the simple
things.
Keeping track of your account is really a simple task if you
learn how to do it the right way.
The ironic thing about all of this is that the banks GIVE you
the tools you need to effectively manage your accounts. But
majority of use fail to even use a fraction of those tools.
For example, most banks offer some sort of online banking
option. This option makes it easy for you to monitor your
banking transactions from anywhere with an internet connection.
You can also perform some basic maintenance task without ever
having to call your bank.
What makes this such a great tool is that it is available 24
hours a day. So after you have had a chance to put the kids to
bed and settled down you could balance your daily expenses using
this helpful tool.
Note: It is important to note here that any of the tools that
the bank put at your disposal are just that... tools! They are
not there to keep track of your account for you. That is your
job.
Forgetfulness!
Let's face it with all that is going on in our days how can we
remember every single thing that we buy in a day. It is
inevitable that we will forget something and that is one of the
reasons that we find ourselves scratching our heads and asking
the question "What Happend To My Money?"
Creating a system that allows for you to keep on schedule but at
the same time keeping accurate records of your daily expenses is
crucial.
Depending on your lifestyle you should examine your daily
routines and find a way and/or time when you can track what it
you spend your money on day in and day out.
Don't Know
This one comes down to complete and total laziness. It just
couldn't be said any other way.
People get lazy. It is easier to not do it and expect someone
else to do it than it is to take an interest in where your money
is going every single day.
It goes without saying that being lazy almost always leads to
more troubles. By not taking OWNERSHIP of YOUR finances you are
leaving it in the hands of strangers.
My dear sweet Grandma used to say "If you want something done
right... do it yourself!"
If that ain't about right!
If you want to change your life financially you have to know
where to start making changes. That simply cannot be done if you
don't already know where your money is going now!
Well now that we have covered some of the more common reasons
most people don't keep track of their finances what are some
solutions?
1. Hire an accountant 2. Get off your lazy butt and do it. 3.
Let things continue the way they are. (Not Recommended)
Take your pick. I suggest option #2.
If you would like to know just how myself and my wife started to
keep better track of our finances visit the following link:
http://www.budgetingbasics.com
Not only will you learn how track your daily expenditures easily
and quickly, but you will also receive additional tools and tips
to help create the ultimate budgeting system that will have your
bank account growing at an alarming rate.
About the author:
Mosiekk Conley is the author and editor of Mosiekk Conley.com
where he shares his expertise in a number of different areas
including budgeting, internet marketing, procrastination, credit
repair and others.
http://www.setupafamilybudget.com
