Tracking down to the penny in your budget

When I track income and expenses, I always track down to the penny. I want to know exactly how much I’ve made, how much I’ve spent, and how much I have left, and the only way to be certain is to record those transactions at their smallest unit, the penny.

In practice this means that if I make $157.48, spend $12.76 on a couple coffees, $45.33 at the movies, and $34.81 on a tank of gas, I’ll have $64.58 left to spend. I should know that number exactly, so I know exactly how much I have left to spend.

You may be tempted to disregard the penny, and track on the dime. I don’t think you should do that. Especially if you’re using an app like YNAB (You Need A Budget). And you should be using an app like YNAB.

In fact, don’t just use an app like YNAB, actually use YNAB, and sign up through my link here to save $5:

Budgeting apps do the math for you, so there’s no reason to get lazy with pennies.

If you don’t track the penny, you’ll have a nightmare of a time when you reconcile. I have a post on reconciling coming soon.

What do they say? A penny saved is a penny earned? Your pennies matters! Keep track of them!

Can I give you something?

If your budget needs work, I have something for you. It’s my completely free Master Your Budget Categories guide, with over 270+ categories laid out and organized specifically to help you budget better. I’ll even show you exactly what goes on my budget.

Think of it as the foundation to your perfect budget. Can I send you my categories?

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