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HOW TO ACCOUNT FOR YOUR MONEY

By on December 12, 2016

Happy Jamhuri Day, I hhope you had a good oneimg_20161213_124053
Today am taking you through how to account for your money or how to keep accounting records for your money after each financial period. Many people, partners or companies don’t account for their money, some not because of ignorance but because they are not informed on how they should account for their money.

  1. Budgeting -Before spending your money, the key thing is to budget for your money, how much you want to spend and how much each item should consume to avoid over or under spending.
  2. Plan -Always plan for the future, know what needs to be accomplished first(this happens mainly during the time of scarcity when you need to make choices in order to survive)
  3. Evaluation -Always  have some time, especially after consuming your money, say after a particular period to evaluate yourself and see how much was your income or cash at hand, how much expenditure have you incurred and how accurate have you spent your cash.
  4. Savings – Remember your savings should remain intact unless there is emergency. Be true to your savings . make sure you have some cash left for your savings as planned before (do not forget to pay yourself)
  5. Be true to yourself – Keep proper accounting records, this will help you in planning and budgeting for the future. It also enables you to know follow-up plans so that you do not deviate from your budget.

Have a great week ahead
Xo.
Peggy y

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DORCUS JOY OBURA
Nairobi, Kenya

Hello World, my name is Dorcus Joy Obura(Mpeggyjoy) welcome to the world of financialistas where i impact people's lives with personal/lifestyle finances,world/trends in finances,how to account and manage finances. We all have our financial vision to be wealthy and rich and to be confidence on the decisions we make with our finances. I'm a twenty-two year old lady with the passion for personal finance,world finance and wealth building.i honestly believe that my purpose is to help and serve to their satisfaction,hence helping them grow and develop towards their financial freedom.As a teenager my purpose is to read necessary financial stories and trends and get acquainted to world's finance.I believe this will help me grow and you as well.See the 'About' tab above for additional details.

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