Is it true that financial accounting systems are useless

Artem Kovalenko
23.11.2015

Is it true that financial accounting systems are useless?

Everybody knows such an expression as the penny saves. Do you agree that in order to always be financially stable, you need to keep accurateaccounting finance?

Exact accounting of finance

In fact, this is far from the case! Perhaps you once were convinced by literate people in your opinion. And that they misled you! Below we describe all the myths related to accounting for finance.

Myth number 1: for accounting finances it is necessary to maintain strict control of all expenses.

But in reality, large expenses affect the overall well-being of a person. And if you spend the extra 100 rubles, it will not affect your overall condition. The real problem may lie in the fact that you are not able to stop when making a large, but at the same time useless purchase. Especially if you have a grace period on a credit card and a rather large amount on it.

Myth number 2: knowledge of spending on cigarettes and beer will help you to improve

This is a classic misconception.Receiving detailed information about his spending, a person buys similar, but cheaper goods. As a result, it does not affect its financial stability. And to solve this issue is necessary based on the overall accounting of finance.

Myth number 3: a detailed report on spending allows you to maximize all costs

Financial stability and growth

Of course, in part this can be called true. For example, before buying insurance for a car, it is rational to consider several offers and choose the most suitable option. To ensure financial stability and growth, it is best to think about how to eradicate your senseless and sudden spending, and only then proceed to the optimization of basic expenses. It is necessary to think in advance about possible options for additional income.

Myth number 4: when you keep records, you will always have money

In fact, accounting for finances and expenses can be called a retroactive action. For example, at first you will be mistaken, and you will know about it already in time. Therefore, accounting of expenses can be compared with the autopsy: you get a lot of information, but if you did it in advance, it would be much better (as with the early diagnosis of the disease and its successful treatment).Today, there are many financial planning systems that will allow you to get a forecast about your financial status over time.

Myth number 5: accounting for finances and spending allows you to develop good habits

This can be called true in half. After all, everyone knows that even self-control leads to an improvement in their own discipline. At the same time, it can be noted that not all people like to watch even for themselves. In addition, a lot of research suggests that this can lead to a feeling of inferiority and insolvency.

Based on this, we can say that the most appropriate option for the adjustment and improvement of well-being is to follow the following recommendations:
• precise definition of your own budget;
• budget allocation for a specific period (the best option is a week, a month);
• creating a reserve fund in which you will save 10% of your total income.

Creating a reserve fund

Myth number 6: when keeping records of expenses, you will always remember the dates of necessary payments

If you think that keeping track of expenses will always allow you to remember about making the necessary payments, then you are deeply mistaken.To help you in addressing this issue will allow the financial planning system.

Myth number 6: the value of all the money is the same.

Keeping traditional accounting finances, it will be quite difficult for you to determine how much money you have without movement and is not used in various expenses. Using the planning system, you can get the maximum profit from every penny.

Profit from every penny

Myth number 8: the longer the study of the data, the clearer they are.

Many people believe that a careful and constant study of the data will make them as clear as possible. At the same time, those who use the financial planning system do it all in 1 minute, receiving positive results. So why waste your time on extra work?

So, in conclusion, I would like to say that if you have a good income, you should not waste time on maintaining strict accounting. Best to use a financial planning system. In this case, you will spend on it just a few minutes.

Video - 25 misconceptions in financial management

And in this video you will be told about the 25 most common misconceptions and mistakes in the field of financial management and that it finds a negative reflection on everyone’s financial life:


Take it to yourself, tell your friends!
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  • Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless

    Is it true that financial accounting systems are useless