Ways to be debt free: Why do you need to write down your expenses

source: http://archive.dyestatcal.com/?pg=dyestatcal-2009-Cross-Country-Road-to-State

I would like to expound a little about writing your expenses by my story.

source: http://phcommute.multiply.com/journal

I just graduated college, reviewed for the CPA board exam, took it and failed. At first it was not that an issue but it came to me I am already a college graduate and I am not already the responsibility of my parents; I should be on my own now. So just like the rest of my classmates in college who failed we all started looking for jobs to make a statement. I applied here and there until I finally landed an accounting staff job at Robinsons Supermarket Inc. Head Office in Eastwood Libis, Quezon City.

It was convenient. I live in Project 3 and the jeepney ride to Kalantiaw in Project 4 was near and from there another jeepney ride going to Eastwood. And so I started working and also started reviewing in the weekends. I am out of the house from Monday to Sunday. And you know what, if you are out there you spend. My salary was at starting which was around Php 8,200.00 only. It was truly a dip into the real life.

Back then I was able to read Bo Sanchez‘s book Simplify and Live a Good life. There I found the idea of writing down one’s expenses to the detail. Funny it was I was an accounting student and now working as an accounting staff doing record entry for a company making sure I balance my records to the centavo and yet I don’t balance my own expenses.  

Back then the Starbucks Planner was a hit and I am one of those who makes sure when I can afford a Starbucks coffee my booklet get stamped. I got one after some months or a year and that planner ended up a expense book. My sister laughs at me because I made a supposed to be diary a record book. You will see in every page what I spent on that day the moment I step out of the house till my eyes closed at night.


I learned that there are expenses that are really indispensable and there are some that are unnecessary. In order to save you cut on the unnecessary and manage the indispensable. With that I finally realized I am already starting to have a savings. From there I was able to have an idea how much money I am saving and how can I manage my expenses. 

Then I took the exam again but got conditional this time. Transferred to a job with a better time frame and self studied. Took the exam and at last I passed. I searched a job requires a CPA and landed in Orica Philippines. from there and nearly working for 4 years I was able to save up about Php 60,000.00. This savings is now invested at a variable fund at PhilamLife

What lessons did I learn from writing down my expenses?

1. It strengthened my discipline. It made me able to follow the goals I
    set because I can see right in front of me what is going on.

2. I learned that if you focus on something nothing is impossible.

3. It is not a matter of time management, it is more of how well you
    pick your choices.

4. Sometimes you just cant believe where your paycheck go but if you
    write it down you will know.

5. People will annoy you not because you can’t go with them for a bar
   session(and because I don’t drink and smoke, I only drink coffee) but
   because they envy me having savings at an early age and while still
  a bachelor.
Financial Freedom Advocate About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Learn more about Louis and his financial freedom advocacy here.

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