3 ms·

1. What's the point of it? 2. How much hours/week does it cost?

• infinite8s 10y ago
  The main point of accounting is planning for the future. If you know how much money flow you have over given time periods then you can plan ahead for large upcoming purchases, or possibly paying yourself if you wish to bootstrap a business, etc.
• c22 10y ago
  I honestly don't do much with the data, in fact I rarely look at it. I do use it to determine sane budgets for various categories of my life, and I sum the entries every few days so I can tell at a glance how close I am to exhausting those budgets. I also find that there's a psychological benefit--when I have to track every purchase I spend less money. I spend considerably less than an hour a week making these entries, perhaps around 15 minutes. If I was interested in having a more nuanced view of my finances with graphs, &c I'd probably leverage software to save me time.