Do you have your own’s budget? If yes, you will be familiar with ledger. Ledger is important when you calculate budget because it show the activity involved in your spending. It is important for us to make your financial ledger in proper way. Without proper ledger your financial will doom.
This is the basic tip to maintain your ledger :-
1. Keep track all of your receipts in your ledger. You must keep your receip especially cash withdrawal. It will remind you to record the activity in your ledger.
2. Record all transactions on that account in your ledger book everyday. It will make take your time and be tedious. Good financial person will write the transaction in their ledger as soon as possible. It’s very easy to forget about ever doing it if you don’t do it straight away. This is good habit because we always forget about our transaction.
3. Never believe the bank’s balance. We’re easily fooled into thinking that the bank statement is always current. Sometimes their ledger be a day or morebehind your ledger. This will make you overspend if don’t record the checks they’ve written. Check your bank statement end of the month and compare with your ledger.
4. You must record all automatic debits and direct deposits in your ledger. It is important to know your spending every month. Auto debit or monthly cut must be include in your ledger to know your real budget. Bills that are debited automatically during the month should be recorded on the day they’re paid.
That’s some basic way to manage your ledger.
This is my old article that I’ve published on 4 December 2009. Honestly, I just make a consistent ledger from August 2013. It takes a long time before the proper ledger has been practicable. Do you have other’s tips to make proper budget ledger? Let’s share with us at the comment below. Maybe it will help me to improve making a personal ledger.