Tuesday, February 24, 2009
Changes in Expense Tracking
Back in December, when I booked driving lessons, I would clock down the total expenses at the time of expenditure. I haven't taken lessons for 2 months and I'm about to dump another sum of money into my student account. I realised that this will make my expenditure very high, which is of course correct because technically I did spend the money.
However, when I finish the course and if there is money left and I get a refund, it will make it look like I have a lot of savings as well. I'm considering treating this prepaid account as transparent like how I treat my Coffee Bean Card and only record the expenses on the day I take the lesson.
It should be more logical treating this student account this way then the Coffee Bean card because I can get a refund of unused funds, whereas I can't get a refund on the Coffee Bean card.
This entry is part of a series of entries that I shall be entering in my blog to get myself into a 'manage my personal finance mode'
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Back in December, when I booked driving lessons, I would clock down the total expenses at the time of expenditure. I haven't taken lessons for 2 months and I'm about to dump another sum of money into my student account. I realised that this will make my expenditure very high, which is of course correct because technically I did spend the money.
However, when I finish the course and if there is money left and I get a refund, it will make it look like I have a lot of savings as well. I'm considering treating this prepaid account as transparent like how I treat my Coffee Bean Card and only record the expenses on the day I take the lesson.
It should be more logical treating this student account this way then the Coffee Bean card because I can get a refund of unused funds, whereas I can't get a refund on the Coffee Bean card.
This entry is part of a series of entries that I shall be entering in my blog to get myself into a 'manage my personal finance mode'
Comments:
Incidentally, I failed my accounts all the way till 'O' Levels when for some weird reason I passed it.
I hadn't studied the subject for a year cos my teacher advised me to drop it and concentrate on other subjects. I didn't formally drop it and just didn't study it.
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I hadn't studied the subject for a year cos my teacher advised me to drop it and concentrate on other subjects. I didn't formally drop it and just didn't study it.
