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Accounting is more about being in control. It's knowledge. It has very little to do with self-improvement, career advancement, etc. You could have equally prog
by atmosx 10y ago
Accounting is more about being in control. It's knowledge. It has very little to do with self-improvement, career advancement, etc.
You could have equally progressed by using an accounting tool all the way through.
There seem to be a common misconception here that when someone is using an accounting tool, he is hoarding by default focusing on growing his income by spending cuts. We all know that spending less can help you so much when your income is rather low :-)
- vinceguidry 10y agoIf that's how you're defining accounting, then I'm "accounting" right now, even though I don't manually track anything anymore. To me accounting specifically refers to the act of tracking individual expenses. Budgeting means to control spending so that it fits into boxes. I do neither, I spend fairly freely and keep only rough tabs on what goes out. But am I in control despite that? I think so. What I believe I have is insight into my own life enough to be able to subconsciously manage my financial life. Is that accounting? I guess if you want to play semantic games then sure.
- bloat 10y agoI suspect that it is not a matter of insight but actually you just enough income not to worry about it too much. Good for you! However if your expenses rise, e.g. you buy a house, have kids, etc. you might find you need to put a bit more effort into making sure your income covers it all.
- graeme 10y agoIs it possible that building an accounting app + tracking for months improved your accounting intuition, such that your "living freely" approach is actually kept intuitively within certain budget limits?
- vinceguidry 10y agoOh it generated a few insights, for sure. But mostly it just brought attention to the subconscious process I already had in place. I may have tweaked that process a bit, but making the app wasn't the genesis of that process.