Lesson 6: Tracking Actual Commitments

You planned that your electric bill in January would be $100. The odds that a utility bill is an even $100 are low so this is a perfect example of a planned commitment that needs to be updated with the actual cost. Updating your digital tracker with actual costs should be done with each transactionContinue reading “Lesson 6: Tracking Actual Commitments”

Lesson 7. Balancing Against the Bank

If you are just joining us, we are near the end of the series on personal finance management. This is the part where you reconcile the balance shown in your digital tracker and planner with the balance the bank shows. The process used for this task has been around for … well, for as longContinue reading “Lesson 7. Balancing Against the Bank”

Lesson 8. Adjusting for the Future

At the end of Lesson 7, Balancing Against the Bank, the front loaded plan was balanced against the bank and the January withdrawals do not exceed the income assigned to that month, even with the $50 gift. However, how does the future look? Scrolling down, the first negative balance appears in the month of April.Continue reading “Lesson 8. Adjusting for the Future”