How to budget your monthly expenses easily

Do you know how much you spend in the month at least on a gross basis?

This is actually the most important part of financial life.unless you know how much you are spending or saving you will not be able to plan anything in life!

But this is a very tedious job & normally after initial few days we stop writing down the expenses.

I use a very simple solution for this purpose.

 

I know from my experience that It is very difficult to keep track of expenses & is very tedious so I found a simple way of doing it, I maintain 2 inter-linked bank accounts, 1^st account is only for incomes (Salary, Dividends, Interest Etc.) & Investments, 

 2^nd account is only for monthly cash expenses, EMIs, credit card bills & other small purchases etc., 

So every month I transfer amounts to A/c no.2 from my Income Account,as long as you keep the discipline of making all the expenses from the A/c No 2 it is allright.

by 2nd or 3rd month you will know exactly how much you are spending,

Let me know how this works out for you.....