Comments on: Keeping More Than Basic Records

By: Drugmakers pour $40 million into healthcare reform debate | acneadvocate.com

Sun, 09 Aug 2009 19:00:44 +0000

[...] Keeping More Than Basic Records I recently read a great article on Ignite Living about the importance of keeping detailed records. The author was consulting for a successful restaurant whose owner wanted to make it even more successful. The owner was strongly considering cutting banquets, which she associated with large amounts of food and work,… [...]

By: Weekend Link Love And Carnival Roundup | Bizness Geek

Weekend Link Love And Carnival Roundup | Bizness Geek — Sun, 07 Jun 2009 03:26:12 +0000

[...] Micah preaches the importance of keeping detailed records, something I’m absolutely horrible [...]

By: Monevator

Monevator — Sat, 30 May 2009 08:40:00 +0000

I fall into the same camp as Kristy, and I must admit I treat my consultancy business finances somewhat like my personal finances – pay all the important things first (including setting some aside for tax etc), and then not worry too much about what’s left.

When I’ve run bigger (small!) businesses in the past I’ve tracked everything I can though, down to linking expenses with an assumption of future gain from that expense… Like any spreadsheet you can go too far and get misled, but as you say information gives you the power to make better decisions.

By: Kristy @ Master Your Card

Kristy @ Master Your Card — Wed, 27 May 2009 05:40:23 +0000

I'm actually pretty bad about this beyond my budget and balancing my checkbook. I should keep better records of my spending patterns so that I can adjust my budget accordingly. It is something that I've had as a goal this year, yet here we are, going into June, and I have not yet done it. I've actually been meaning to do this soon, though. I'd like to have a no-spending month challenge with myself and I'd like to see how much it saves me. But, there's a lot of factors that I need to consider, like which month has the least DVDs that I want to buy coming out, because that's a factor for me personally. But, when I say no spending, that's what I intend to do. So, I have to have the facts in front of me. You make an excellent point here! Instinct and hunches are definitely beneficial and can really come in handy, but when it comes to personal finances, it's simply better to have the facts in front of you. Kristy @ Master Your Card’s last blog post: 7 Money Mistakes Newlyweds Make

By: Charlie - Ignite Living

Charlie - Ignite Living — Tue, 26 May 2009 17:50:28 +0000

Hey there! Wanted to say thanks for the mention and that you've added some really great to stuff to the article. I love how you break down your income and where it comes from. That's a great way to find/strengthen a stream of income that might have otherwise been hidden. Dig it! Charlie - Ignite Living’s last blog post: Consulting Case Study: How $19,000 becomes invisible

By: dawn

dawn — Tue, 26 May 2009 16:36:48 +0000

Good point. I can’t tell you how many times I’ve referred back to my monthly expense reports (they go back 15 years) to find exact and precise data on all my spending. It’s something I enjoy doing and really doesn’t take up as much time as you’d think, once you have a system down. And as you pointed out, any projections you may make for retirement or anything else are that much more precise, not guesswork.

By: Small Steps to Health

Small Steps to Health — Tue, 26 May 2009 13:26:52 +0000

Before I got married, I was tracking what I was spending to the last penny. Now with a husband that have a "running tally in his head" there is no way for me to know. But I am not as obessive about it anymore, just a quick (ok, a long session of balancing our accounts) once a month is enough. For some reason why husband always think our yearly vacation cost less than it actually does. But I have the numbers to back up my case that we should not be spending so much on activities. Small Steps to Health’s last blog post: Good Intention is Another Word for Insanity