📅 2025-03-14 — Session: Developed Personal Finance Tracking System
🕒 20:15–20:50
🏷️ Labels: Personal Finance, Accounting, Financial Tracking, Balance Sheet, Budgeting
📂 Project: Accounting
⭐ Priority: MEDIUM
Session Goal
The goal of this session was to develop a comprehensive personal finance tracking system that aligns with standard accounting practices.
Key Activities
- Explored strategies for promoting music through digital distribution and social media.
- Provided guidance on purchasing a fuel tank for a Honda CG 125 Fan 2010.
- Discussed methods to avoid double-counting in financial transactions.
- Developed a two-level financial tracking system to differentiate between liquid assets and theoretical wealth.
- Explained a hybrid accounting approach combining cash and accrual methods.
- Aligned personal finance methods with standard accounting practices, including balance sheet creation.
- Built a personal accounting system with monthly flow tracking and cumulative running balance.
Achievements
- Created a framework for a personal finance tracking system that includes a balance sheet and proper categorization of liabilities.
Pending Tasks
- Further refinement of the personal accounting system to ensure accuracy and efficiency in financial tracking.