The Secret of recording your transactions
Just the other day, I was cleaning up an old trunk suitcase and therein I unearthed a diary of 1966. Eager and inquisitive, I opened it and found that it belonged to my father and with a twinge of conscience (about trespassing) I leafed through the diary. What I saw was truly astounding.
Day after day, I found entries of money relating to purchase of provisions, milk, medicines for the tiny baby (that’s me), the bus fare, loan received from a friend and repaid, monthly salary and bonus for deepavali, purchase of dresses for the entire family and so on.
It suddenly struck me that my father managed his life beautifully by addressing the needs and wants (reasonable though) of all the members of the family within his limited income only because he brought awareness to his money on a regular basis by writing the transactions down.
Not for him, those upto 40% off signs that get people (who had no intentions of buying anything until then) into the stores and ultimately leave with thinner wallets!
Not for him, the anxieties of people who wonder where their money is vanishing!
Not for him, the ignominy of cheques bouncing on account of insufficient funds.
Not for him, many of the money problems that people are now facing despite earning huge salaries / incomes.
MYM (Mind Your Money)Â
