2229: Why I Prefer a Spreadsheet to Track Expenses & Manage My Finances by Len Penzo

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Investing, Business, Education, Self-improvement

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🗓️ 7 March 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Len Penzo talks about using a spreadsheet to track expenses Episode 2229: Why I Prefer a Spreadsheet to Track Expenses & Manage My Finances by Len Penzo Len Penzo writes about personal finance and macroeconomics on his eponymous personal finance blog, which has been twice-honored as a Kiplinger Best Money Blog, and honored with two Plutus Awards for Best Personal Finance Blog. Len’s personal finance articles have been featured in the New York Times, MSN, Business Insider, Money, Time, Forbes, The Huffington Post, Yahoo! Finance, CBS MoneyWatch and Clark Howard, just to name a few. His focus is on the importance of personal responsibility — not only for our personal finances, but also for everything else we do in life. The original post is located here: https://lenpenzo.com/blog/id14307-why-i-prefer-a-spreadsheet-to-track-expenses-manage-my-finances-2.html Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2229.
0:04.5	Why I prefer a spreadsheet to track expenses and manage my finances, by Len Penzo of
0:10.0	LenPenzo.com, and I'm your host and personal finance enthusiast, Diana Mariam.
0:15.9	Thanks so much for joining today, as I share yet another article that can help you optimize
0:20.4	your finances, just like I do each and every day.
0:24.3	So with that, let's get right to it as we optimize your life.
0:32.2	Why I prefer a spreadsheet to track expenses and manage my finances, by Len Penzo of
0:37.7	LenPenzo.com?
0:40.6	I've been diligently managing my personal finances and tracking household expenses for
0:45.2	more than 20 years.
0:47.2	How diligently you ask?
0:49.1	Well, I can tell you that my cable bill in February 1998 was $8.3, and that I spent $141.16
0:58.3	in 2006 for an annual subscription to the LA Times.
1:02.8	I can also verify with total certainty that 7% of my income in 2007 went towards groceries,
1:09.7	and I vouch that I spent $88.95 at my local Kmart in August of 2001.
1:16.3	Just don't ask me what for, because I'm not that thorough with my record keeping.
1:21.4	Why tracking expenses is important.
1:24.7	Taking the time to track and analyze your income and where it's going is a crucial element
1:29.7	of managing your personal finances. That's because doing so uncovers hidden money leaks that help
1:35.6	you better allocate your resources, thereby ensuring you always get the most of your paycheck.
1:41.5	It makes it easier to set financial goals, too. Of course, prior to tracking your expenses,
1:47.1	you have to record them. While not impossible, trying to track all your cash purchases can be
	...

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