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Saturday 4 September 2010

Financial tips already implemented or in progress

- I'm regularly logging to my online banking and copy the download the monthly bank statements for the saving accounts and for the credit accounts in certain folders to keep the full record.
- I'm copying also any new items in the credit to a master Excel spreadsheet where I can analyze and understand them and calculate the credit debit and classify them to the different shopping categories to understand my spendings.
- This process has helped me to control any new item in the credit and established the regular checking of my online banking as a routine habit.
- I'm planning to subscribe in the SMS alert to receive notification whenever there is any transaction in my accounts.
- I'm working on automating some of the steps to accelerate the process and to reduce my manual interference.
- The linking between the bank statements spreadsheet and the budget spreadsheet is done manually for the time being but I'm working on linking them automatically.
- I'm building more awareness about the currency conversion and how I can reverse it to my favor.
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