Tracking your money in Excel may not seem like a powerful tool, but give me 2 minutes to convince you otherwise:
1. Tracking gave me clarity
I realized I was paying almost $16k in interest every year.
I realized I was paying almost $16k in interest every year.
2. Tracking gave me motivation
With $16k going to interest every year, this was basically one-third of my take home pay at the time.
I realized I would never get wealthy if I continued to have this debt.
With $16k going to interest every year, this was basically one-third of my take home pay at the time.
I realized I would never get wealthy if I continued to have this debt.
3. Tracking gave me the ability to create a plan
- pay off highest-interest debt first
- sell the loss-generating duplex
- minimize interest expense
- pay off highest-interest debt first
- sell the loss-generating duplex
- minimize interest expense
4. Tracking aligned my actions to my goals
goal 1 - be debt-free
goal 2 - have a positive net worth
goal 3 - become a millionaire
goal 1 - be debt-free
goal 2 - have a positive net worth
goal 3 - become a millionaire
5. Tracking helped me get focused
I visually saw how each action impacted my money.
I looked at this chart a lot,
working toward a positive net worth
and a zero-debt balance.
I visually saw how each action impacted my money.
I looked at this chart a lot,
working toward a positive net worth
and a zero-debt balance.
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