Do you think jotting down your Expenses for personal or business is good

I personally have a list of all the expenses that I had. I also keep the receipts for future reference. By doing this, I could keep track of all my expenses against my earnings. When it comes to my online earnings, I would like to keep it until I would be able to reach the amount I needed to buy the thing I want.

I would always like to save more. Whatever left with I utilize to invest somewhere like online or save it for any emergency in future. I believe if you keep investing that money in business you will never be satisfied. Next time again you invest in business and at last you nothing left with.

For the business - it's a necessity, that's why businesses hire Accountants in the first place. With costs and income computed, the owners would be able to see if it's still worth doing the business for another year or so. Further, it would help the business owners to see if there are discrepancies or if someone has been stealing resources. Indeed it's very important. As for personal, I think it's necessary for a couple of months. To just see where the money goes. It will help the person to see where the finances could be adjusted to have more savings and tells the person where he/she spends too much on. However, in the long-run, I don't think it's necessary because you'd pretty much have an estimate of what's coming in and going out as the habit is already formed. Have a great MyLot experience ahead!

For my personal and household expenses, I list down everything because I have allotted a budget for both and I don't want to go beyond it. It is also a way for me to track down if I am being charged more for something that I got just the other day or last month. By listing down all my expenses, I can evaluate properly which stuff I can cut down on or lose entirely for me to save more.