Discussion » Beijing Life » Finance related - "record" ... ** warning: boring

  • 叮噹叔叔 (令狐叮噹)
    叮噹叔叔 (令狐叮噹) wrote:
    ...

    Q (to Pete and WLIB team): is there any chance we could have a category about "Finance"?

    Anyway ... I had lunch with one of the guys from WLIB on Friday at Joy City, and the subject of Personal Finance came up. He is young, smart and is well paid considering his age, but I was quite surprised to learn that he does not have any plan about his finance or the future ...

    One topic, among many, was the idea of "expense recording" (记帐) ... and I will try not to give too much away:

    He has got his own apartment around Si Hui, half his salary is "donated" to the bank as his mortgage, and when I asked, how much he spends each month, all I saw was three "O": two eyes and his mouth ...

    So I talked to him about the importance of "recording" and sent him a blank Excel file that we use ... and in case he does not like the format of the file, I also bing-ed some web sites for him:

    http://jizhangla.com/

    http://www.suansuankan.com/

    http://www.douban.com/group/topic/1390287/

    http://pdbmaster.com/

    In terms of Personal Finance, "expense recording" is important when analysing expense (spending) pattern. And (hopefully) when one realises how much one might over-spend in a particular category (usually accessories, dining out and entertainment), some action might need to be taken to correct that, with the hope of starting to build some wealth.

    If anyone has got genuine questions and/or opinion about this, please feel free to ask or share ... I know a few people in this community who has good financial background, so I hope they can "chip in" (no, I dont mean to pay me money, hahaha) their little bit of experience, hopefully anyone who needs help will get help ...

    Finally, please dont think that the "entry fee" to build personal wealth has to be in the thousands or more, it actually starts with the one yuan in your pocket ...

    Now, happy wealth building :)
  • Daniel
    Daniel wrote:
    Actually this is one area that I probably should be more enthusiastic about: whilst I'm careful with money whilst I'm living on a budget(basically, studying), I tend to spend freely when I have a disposable income.

    I think I'll give this a try for a normal month(January and February are going to be abnormal representations as I'm on vacation, so not all that useful to record), partially because I'm curious it it'll make a huge difference from just trying to keep track of expenses over the course of a month mentally.
  • 叮噹叔叔 (令狐叮噹)
    ...

    These web sites are designed with China's users in mind, so the naming standard might not meet your need ... if you find similar web sites outside China, pleaee feel free to list those sites ...

    Such web sites are supposed to help you in recording, analysing etc, so you should find one that is easy to use, secure, and have some good reporting systems ...

    By keeping track of your expense, you will not save money, but when you go back to analyse your own spending pattern, you will see what you might have spent too much and hence cut down in that category ...

    Try a few sites, compare them, and choose one that you like ...
  • Zoé
    Zoé wrote:
    recording waste time..just be serious when u pay for anything
    dont you think so guys
  • Daniel
    Daniel wrote:
    叮噹: No problem! If I was to do it, I'd put together an excel sheet rather than upload even the most innocent of financial details onto an internet site!
  • 叮噹叔叔 (令狐叮噹)
    ...

    Hahahaha ... thanks Daniel ...

    Jio ... or Cecilia? If you should run into trouble with any of these tools, give me a yell and I will see how I can help ...

    Zoe, it is difficult to explain the importance in a few words, I will try by telling you a story a bit later ... ok?
  • 叮噹叔叔 (令狐叮噹)
    ...

    Jio ... which web site did you try to use? I will try it with you, ok?
  • 叮噹叔叔 (令狐叮噹)
    ...

    While writing this thread, I remember these two cute little books:

    1. "The Richest Man in Babylon" by George Samuel Clason ... it is a great and light read about building personal wealth

    2. 小狗钱钱, a Chinese translation of a German book "Money oder das 1x1 des Geldes" ... its targeted audience is kids, but it is NOT too childish and I recommend it to anyone who wants to learn about personal wealth ...
  • 叮噹叔叔 (令狐叮噹)
    ...

    Jio ... 如果你是想学习怎么用,我晚一点,帮你选一个,然后教你用吧...
  • 叮噹叔叔 (令狐叮噹)
    ...

    Daniel ... any luck with starting your own "expense recording" so far?

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