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If you want to feel in control of your finances, then a personal finance worksheet is a great way to start.

You do not have to be a computer expert, you can do this manually. Personally I prefer to do this manually, because then you can work on it where ever you are, and you won't use the excuse that "someone else is using the computer now, I will do it later".

I find you have to make this as easy as possible, or it just doesn't get done. There is no point in having a great program set up on your computer, if its a pain to get to it, or its on another floor... procrastination will set in.

Have a book with columns in it, handy to where you keep all your bills and papers, this way its right there, and you can enter the amounts write away as you pay your bills, or look at your statements..

My sister-in-law takes the train to work, and she carries this stuff in her brief case, as well as her bills, and works on them during her commute.

Have a column showing your take home pay, and then have columns for your fixed expenses, such as mortgage, car payments, credit card payments, things that are the same every pay or every month.

Then have some columns for your other expenses, such as utilities, groceries, gas, cash spending, and if you enter your amounts right away, you will begin to see a pattern of where your money is going. If you get into the habit of entering these amounts in your book, then you can create a budget based on your spending. You can see where maybe you could cut back, or what debt needs attention. Save all your receipts from during the day, and enter them.

In the back of this book, you should have a "goal page" this is your financial goals for your future, make a list of all the things you would like to do in the next year, 5 years, 10 years etc... then turn back to your personal financial sheet, and add one column in your expenses that will have your name at the top of it. This is what they mean by "pay yourself first". Instead of waiting to see what is left over at the end of the month or your pay, you actually count yourself as a bill. This amount will go towards your "goals".

Set up a high interest savings account for your amount, and have your bank automatically transfer it to the savings. If you cut back on daily spending, such as coffees, lunches, latte's, muffins etc.. you will get used to this amount being taken from your paycheck or account. You should feel more motivated to cut back on your daily expenses, because of your goals you have created for yourself.

By having a personal finance sheet, you can see at a glance if you are spending too much, or if your hydro has gone up a lot from last year.. or if your groceries are creeping up, or that daily spending on the way to work.

By doing this manually, you can look at it any time, you can carry the book with you, and add more personal goals to your list. It can almost be like a journal, and this way you have a "snapshot" of your finances anywhere, anytime, and you can see how much closer you are to getting to your goals.

I love the computer, and I do book keeping for a living, but personally I don't carry a laptop around with me, and sometimes I want to have a quick look at an expense, or adjust one of my goals, therefore a simple manual method works for me.

Learn more about this author, Diane Palmer.
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