When I announced the beginning of Money Musings Monday last week, someone sent me a message saying something like, “Oh! Just in time to reflect on our weekend spending.”
So, that gave me the perfect idea for our first topic. Yes, it’s all about spending money.
What did you spend money on over the weekend? Were they mostly for personal matters? Bills? Mortgage?
Did you spend anything for your online business? If yes, what for?
I know some people think that one of the best ways to manage one’s money is to keep track of one’s spending. That’s why things like expense journals are considered important, especially if you’re running a business.
That’s why even if you’re simply running a blog as a way to make money online, it will be helpful to know how much you spend on it. Spending money on things like domain name registration, web hosting, premium theme payments, blogging books, etc. will be good to keep track of. This way, you’ll know how much capital you have for your online venture. And, if you’re making enough money to pay taxes, these things may be considered business expenses so they might be tax deductible (make sure you consult your accountant for proper advice).
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{ 1 comment… read it below or add one }
You mentioned last week about change so I ended cleaning out a few things and decided last week to buy myself a new office manager chair for home. I got one on the weekend at officeworks. For office chairs they do offer a good range from cheap to the really expensive unlike the other bigger known stores. so that made me a happy chappy. This week was mainly personal such as a few drinks here and there and thus another weekend thinking where on earth did it all go
I consider myself pretty good with money as I dont buy unnecessary things.
)
Keeping a journal would be good for me though but its getting into a habit that worries me more . Also it doesn’t help that a lot of the money that goes out such as bills such as the internet, insurance, gym are deducted automatically online and you no longer get letters telling you how much you spend. I dont really tend to look at my acct everyday so I should really keep a note when things “fly” out. My mate is very good with Excel and he does keep a tab with that esp with calculations and what not. Again something i should look into doing. It might help to re-adjust the spending and maybe increase if it allows (so another round of shouts