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  • Category: Miscellaneous

    Having records of expenses(hisab) is it good or bad habit?

    People often have habit of keeping records of all their monthly or weekly expenses( in Hindi it is known as "hisab") is it a good habbut or bad habit.
    Some people go to extreme over "hisab" issues specially misers.
    Is it a good habit or bad habit?
    Do you often keep these records?
    What is your opinion about hisab?
  • #591546
    Tracking an expenses or making a records was not a bad habit or not a good habit because normally its not including in habits. habit means repeated the same thing again and again like nail-Biting, putting the finger into the nose,.. etc. we cannot do lots of expenses everyday than why we make records of expenses. I want to know answer from the experts for this thread in detail. experts do you agree with my response.

  • #591550
    To live in this bad world, one should really keep a strong look on their expenses and should never ever think that keeping a record makes their expenses more and more, from my point of view keeping a record is good and I too trace my expenses every alternative month.
    live happily in every situation of life

  • #591554
    Definitely keeping track of daily expenditures is a good habit. But we have to take care so that this activity (keepting track of daily expenitures and writing down all expenditures) doesn't take considerable amount of time. This is more applicable for working people and students. A person should not spend more than 30-45 minutes daily for this activity.
    Caution: Explosive. Handle with care.

  • #591561
    Keeping a record of expenses is not a bad habit. Till last year, I did not think about recording my expenses. Since demonetization, I started maintaining a register to record my expenses. I started maintaining the record only to allocate my budget after calculating the expenses per month. I have divided the expenditure under various heads/subheads for that purpose. Every day, before going to bed, I ensure to record my expenses. This will help me to know where I am spending my hard earned money unnecessarily. I am not a miser. I spend money like water. The details as below:
    1. Food
    (A.Grocery B.Vegetable C. Fruit D. Non-VEG E. Hotel F. Miscelllaneous)
    2. Accommodation
    (A. Electricity.B. Water. C.Maintenance)
    3.Conveyance
    (A. Car B. Bike.C.Bus/Taxi/Auto/Train fare)
    4. Cosmetics
    5. Medical/Medicines
    6. Textiles
    7. Gift
    8. Deity
    9.Communication
    10. Entertainment
    11. Online payment
    12. Cash payment
    13. Total
    14. Progressive Total

    For the last two months (January and February) I am maintaining it very seriously and sincerely to plan my budget for the financial year 2017-2018.

    Members, You can also follow my format for recording your day to day expenditure, if you wish, and if you feel it fit. If I have left or omitted any head or subhead, kindly bring it to my notice in this thread itself. I will be grateful to the member. Also, kindly post your comments, if you can.

    No life without Sun ¤

  • #591562
    It is a good habit of recording income and expenses. For most people, at least in the beginning, there will be just one or two sources of income and scores of expenses.
    Maintaining a written record of expenses can help us know where the expense can be curtailed or reduced and where the savings can be utilised. Keeping tab of income-expenses helps us to live within means.

    Now a days there are different applications which can be used in smartphones for easy recording and monitoring of our expenses. From the habit of recording expenses one can move to a proper budgeting.

  • #591563
    There is nothing wrong in recording our expenses. We will have a track of were we spent the money. Sometimes we will have unnecessary expenditure and we will not have a track of it. If we maintain a record, through that we can easily cut down our unnecessary spendings. Also we can plan properly for the sacvings to me made.

  • #591588
    Yes I am habituated to maintain the diary of what is earned and what is spent in a month and that would give a sure indication of my spending spree every month and priorities allotted every time. By maintaining the expenses and written in the diary, we can always refer the same as the proof when the need arise. Moreover we also compare the rates of grocery which was last month and charged this month. That way a toe has been kept of raising prices and have a control over unnecessary unwanted expenses. Budgeting is also one the great art of a house wife and husband should also maintain the record of happenings spending wise.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #591635
    Keeping record of expenditure is very necessary. Similarly we should note down our income also. Once in a while we can analyse and see whether we are overspending any where or we are going for waste expenditure. My father used to keep a very good record of income and expenses. He used to advise me to see that always expenses should be in our control and no loans. It is good to save at least 10% of our earnings for tomorrow. People may think My thoughts are miserly. But no. It is safe to always have some money with us to face unforeseen events. So I always advise everybody to maintain a written document for expenses. Of course as mentioned by others we should not waste time more on this. But please have a record.
    drrao
    always confident

  • #591643
    In Tamil, there is a saying,"AatrilE pOttaalum alandhu pOdu" which means though you are putting into a river, measure it before. whether we save something or not, to keep a control on expenses, the writing habit of accounts helps a lot. In olden days even daily expenses were noted down by my parents and grand parents. Nowadays the lavishness is prevailing in everybody (it is said that the increasing of IT companies are one reason for such lavishness in them, whether it is correct or not) and people are just swiping credit cards they are all not seeing bill at all. They are not checking the total or items etc., but I have seen many times, my paternal uncle used to chek the bill twice before paying the money. Moreover we are not demanding bills from the shops many times and I am seeing a bit warning in the Dinamalar, a tamil daily newspaper about demanding bills for every purchase.

  • #591658
    If you can spare some time and note down the daily expenses then at the end of month you know what is your total expenditure and its break up under different heads.

    This information is very useful because you can take corrective measures and control your expenditures under a particular head.
    Some people have this habit and it gives an overview of their financials during a particular period.

    There are people who do not like to do such things and just believe that whatever balance is in hand that itself will tell the expenditure in one go and why to undertake the hassles of noting down on daily basis.

    So this habit depends on individual but generally speaking keeping track of your expenses is a good habit.

    Knowledge is power.

  • #591756
    Most of the members have given advantages of having records of expenses and no one seems to have seen any negative thing in this habit, but in some cases people sometime goes to extreme level of having records they even keep track of small details at household every food item they bought or every cloth they bought.
    In simple terms these people shows miserly behavior what do you think about this habit to an extreme level?

    "It is hardest thing in the world to be good thinker without being a good self examiner"

  • #591777
    I would definitely consider it to be one of the best habits you can cultivate. I do keep a record of expenditure, and also plan ahead about the shopping and other expenses. You need not be branded a miser if you tend to keep records of your income and expenses, but it will give you an insight into your spending habits. Maybe you can control your expenses that may be unnecessary.
    Live....and Let Live...!


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