Manage your FINANCES Using Notebooks (very simple method)
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- čas přidán 23. 07. 2024
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I describe the super simple system I use to track my finances and help me save money. I explain what you need to set this up, what you need to make it work, and why it works. Thanks for watching!
00:00 Intro
00:25 Supplies
01:15 The Notebook Setup
01:26 Page 1 - Income Statement
03:54 Page 2 - Summary by Week
04:22 Page 3 - Weekly Expenses
05:23 Living with the system
06:20 Notes on forming habits
06:48 Back to the process
08:45 Don't judge
09:21 WHAT makes it work?
09:25 The easy stuff
09:45 The hard stuff
11:36 WHY does it work?
11:43 Observation
13:43 Friction and Skin In The Game
14:50 Outro
I have started to use this system. It has reduced my unplanned spending quite significantly. Thank you very much.
Glad to hear it! Thanks for watching!
I love the simplicity of your system! I especially like how easily it puts one in the mindset of how much they’re spending of their hard-earned cash. Of course, using a Field Notes notebook to manage one's finances is a nice touch as well. 😀 Oh btw, I just got the Blackwing Volumes 651 which is not only a tribute to Bruce Lee but also has the extra firm graphite. Thank you for posting this video!
Thanks for watching! Nice on the Bruce Lee Blackwing, definitely one of the coolest icons they’ve chosen! I love how it has that school pencil look to it too.
I have tended to use a separate pocket notebook that lives in my desk to track expenses, but it falls short when there are times i don't get a receipt or purchase something online. I like the idea of doing it immediately and im going to try out this system. Thank u!!
Nice! Thanks for watching!
I enjoy analog handwriting so I would really love this method if my life were complicated enough to need it.
Loving this so much because I am for one been recording my finances but until now, you've shown me a way to process the plus's and minus's to make sense of how I spend or save. Thank you
Thanks for watching! Glad it helped!
Thank you for a calm, well structured and intentional video, Lukas. I'm not great with numbers in a mathematical sense but in observing finances this way, I obtained a greater understanding and I would enjoy this process very much. Thank you for guiding and showing how to create a new habit. I am motivated and willing to try 🙏
Thank you for your comment, I'm pleased you find it useful and I hope the process works for you! Thanks for watching!
Thank you for this, I had to watch it two times for it to click, but I appreciate this contact very much financial tracking is definitely a weakness, and I think I need to order some field notes to make this a habit!
The first expense noted can be the expense of the field notes! Thanks for watching (twice)!
Thanks will try this
Great! Thanks for watching!
Excellent ideas, as always. I have a similar system and it has helped me stay in control of my finances. Each year I review my household bills as it is inevitable the cost of living always goes up. Anything left over at the end of a month can be transferred into a savings account. You are right, of course, to operate your system requires motivation. I am not as thorough as you as I don't list everything I buy. However, I always have a rough idea of my personal spending money after all the bills are accounted for.
This was inspiring and I will start trying this tomorrow.
Hope you find some use in it!
Great example of analog > digital.
Great video. If you are paid weekly or every other week, I think this still works best to use on the calendar month setup because so many bills are set up as once a month. Also, using a budget software (I like YNAB) is still a good idea, but the analog nature of this is really powerful. In that way you can get the best of both worlds, the friction and observation of analog and the data management and features of a software. Thank you!
Yep I find going by the bills cycle is the most useful. Good point about using a budgeting software too.
What a great system, thank you! The simplicity is what makes it so genius -the perfect amount of observation and friction. My big question is how to make this work with a spouse? Maybe a follow-up video on that topic? If I create a habit around this, but my spouse isn't able or willing to, does it defeat the entire process or is it still worthwhile to try? Thanks!
Such a great question - for my household I just run my own and my wife’s in parallel because this system and habit doesn’t work for her. For my wife’s expenses I usually do a tally from the bank account every few days, so it’s not as instant as my own expenses which I’m noting down as they happen. But it serves the purpose of keeping track of the household budget.
Good system
Thank you for the video! I get overwhelmed with trying to set up a system to track finances, so this may be a helpful method for me to stay on top of it. :) would you consider creating a second video detailing how you might use this method to keep track of debts and credit cards, delegating savings, etc? Would that just be part of the monthly statement page? I'm interested in how this method could be elaborated once the tracking becomes a habit.
I am thinking about ways to expand the explanation for alternative uses and setups, keeping the same principles. Hopefully I can bring them together into a follow up video. Thanks for watching!
My youtube journey. this video is very very usefull u r great person nice explain. from india
Thank you for watching!
Lukas! Your videos are so Zen for me. Thank you for taking the time to create them. I know how much effort it takes. It’s 1/1/24 and I’m going to try your financial system. I love the simplicity and the conscious spending moments it will provide.
Question: When you buy something with multiple items from someplace like Amazon, do you list each item or just the total?
Happy 2024! Nina from Ohio, USA
Thanks Nina, I hope the system works for you! And Happy 2024!
Lukas, when you buy multiple items do you just put the total or break it down by item? I think the total might be the most efficient move?
@@NinaSChronicles I do the total, so for like a grocery shop, it's just one amount.
Great! Thanks!
Very nice idea. I was at the end of my YNAB subscription and I think I will be much more conscious of my purchases using your analog approach. Yes, it don’t calculate automatically the remaining in each budget categories but it’s ok for me now to just have a bird’s eye view of the plan. My big question is: Do you carry a book with just budget things or do you mixe it with all other notes and tasks of your other videos? I’m asking because having to carry two notebooks even if they are small seams too much for me. By the way, I love all your videos…each time simple and genious!
Thanks so much for your comment and for watching! To answer your question - I just use one pocket notebook at a time, and everything goes in there, my finances, to do lists, grocery lists, video tasks etc.
This method is quite similar to _Kakebo._ I started with it, but I migrated to digital a few years ago to fine-tune my spending with questions like _How much did I spend last year in cafés?_ I change my behaviour when I realise about some petty expenses.
Nice! I’ve never heard of that word/concept.
Very eye-opening in its simplicity, the whole part about observing and making new habits! Practical question: do you actually take out your notebook inside stores to immediately write down a purchase? Somehow I would wait to be able to do it privately (in my car, at a table) and then defeat the immediacy of the process… Advice? Thank you very much!
Thanks for the comment! I usually wait until I step out of the store to write it down, I just stand outside and make notes! For grocery shopping where I leave with the trolley, the handle of the trolley serves as a good desk.
Stationary collection tour would be awesome!
Working on it!
Great Video, I really the Setup and everything was really clear. Just one Question; Where do you get your Field notes? Do you order them online?
Yes, majority online - I live in Europe so I buy them from online stationers that deliver within the EU. A good one if you're in Europe is Escribo - they always have the latest editions quickly, and that's where I've bought my most recent ones from.
Thanks alot!@@BlankFirstPage ♥
Love the idea. How would you adapt this to someone that does contract work & doesn’t have a consistent pay schedule
It's a good question. My wife does contract work with irregular amounts and frequency of payment. I stick to the month cycle, and just list the income at the top of the statement as and when it comes in. It does mean you can't plan as precisely as if you've got a salary, but you can still get an estimate that is good enough to work with. At the end of the cycle, I then just tally up the 'actuals' and see what's left. Hope that makes some sense! Thanks for watching!
What is the book behind you on the shelf to your left my right, it looks like it has many frayed pages it looks very interesting.
It's an amazing notebook made by a brand called Lamali Paris, the notebook itself is Biblio indigo. The paper is made from cotton.
Really like this method! However I’m struggling to work out the tracking across weeks. I get paid on the 28th of each month. Would you track from 28th August - 28th September? Or each week of the calendar?
The rule I use is to see what day payday is. If payday is Mon-Weds, I take that same week as week 1 of the system - starting the Monday of that week, even if Monday is technically before payday. If Payday is Thurs or Friday, then I start 'week 1' from the following Monday.
Hope that makes sense! Thanks for watching!
Where can you get the leather pencil protector?
I made it! But I’ve got a video coming out soon about how to do it yourself!
Is this Field Note pad strictly for expenses and you also carry another for other notes? Or, do you combine you expenses into your regular Field Notes you carry? Keep up the great videos!!
Good question - I combine my expenses into my regular Field Notes, I don't have a separate/dedicated expenses notebook. Thanks for watching!
Great Idea but i carry a diffrent book each day depending on my work/social life :)
Great way of maximizing number of notebooks on the go! Never too many notebooks.
How many pocket notebooks do you carry everyday with you?
Always one but usually two!
Have you checked out the PLOTTER notebook? Never bought it but it after looking at other youtubers trying that notebook out, looks really versatile. Can move pages around, compatible & easily archived. Theres also a folder to keep all those notes organized in one category.
If you do bought it, I want to know your thoughts about it. Maybe a video review next time. 👍
I haven’t used it yet but quite a few people have mentioned it to me now which makes me want to try it. I feel like it would suit my work notebook needs quite well.
Have you checked out the PLOTTER notebook? Never bought it but after looking at other youtubers trying that notebook out, looks really versatile. Can move pages around, compatible & easily archived. Theres also a folder to keep all those notes organized in one category.
If you do bought it, I want to know your thoughts about it. Maybe a video review next time. 👍
Trying to get my hands on a plotter!
@@BlankFirstPage woops. I thought youtube comments come only once. Why is my edited and unedited comment is on this video twice? 😅