Tracking your expenses is a good habit to have. Or I thought so. But I recently came across an advice where tracking expenses actually does nothing for you but rather what we should do is just set a budget for every month. No need to track every dollar spent as long as it is within the budget. What do you think? Personally I believe tracking expenses makes us mindful of what we spend the most on and what we should lessen next time. Is it necessary or no?
When you set a clear standard for your budget there won't be any need to track ones expenses cause they are irrelevant, to me tracking ones expenses seems like chasing losses that can't be gotten back. The right thing to do is setting a goal or budget and sticking to it that way you can follow it up and know what you're spending. Though for some person's it's necessary in tracking their expenses regardless prioritizing budgeting would actually give serve that oversight function.
