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What Is A Financial Log?

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Before we dive deep into my financial log it may be important to talk about what a financial log is and why it is an important thing to create and maintain. 



So, for starters,

 A financial log is essentially a diary about your own finances. With entries about everything you do include information about money you made, bills paid, resumes sent, or simply a little about what you've researched recently, whether it be shopping on amazon.com, looking up on wikipedia.com or nitty-gritty research at investopdeia.org.

But, you may be asking why is making and maintaining a financial log important. 

Well, it's simple. Much like how a diary allows someone to confide secrets and reflect upon how things are going a financial log provides the same support. A financial log can be used to reflect upon how you've grown your own financial know-how while also keeping track of things you do know yet. 


For example, in my own financial log, I might write: 


"Today I was researching stocks and how people make money from them. I ended up finding out that there are many different types of stocks. However, many of the stock types and terms I don't understand. So, I should use some time tomorrow to familiarize myself with stock types and terms. Last week, I was looking into starting a business but given my current financial status I don't think I have enough put away to start a business so I've updated my goals to be something more reasonable like finding a job to start saving for college."


As you can see in a financial log you should


  •  identify what you did that day, 
  • what you aim to do tomorrow, 
  • and provide an update on something you were looking into during a previous log.



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