Tracking Expenses: Apps vs Excel

The best budgeting tool is the one you actually use. Some people love automation; others love control. Which one are you?

1. Mobile Apps (The "Lazy" Way)

Best for people who want convenience and automation.

Pros:

• Auto-SMS Reading: Apps like Walnut (now Axio) or Fold read your bank SMS and auto-categorize expenses.
• On-the-Go: Log cash expenses immediately.
• Visuals: Nice charts and graphs.

Cons:

• Privacy: You are giving access to your financial data.
• Accuracy: Sometimes miscategorizes (e.g., Swiggy might be "Food" or "Travel").

Top Apps in India:

1. Axio (formerly Walnut): Best for SMS tracking.
2. Fold: Connects to bank accounts (Account Aggregator).
3. Jupiter / Fi: Neobanks with built-in tracking.

2. Excel / Google Sheets (The "Control Freak" Way)

Best for people who love data and privacy.

Pros:

• 100% Customizable: Build it exactly how you want.
• Privacy: Data stays on your drive.
• Analysis: Pivot tables, custom formulas.

Cons:

• Manual Effort: You have to type every entry.
• Not Mobile Friendly: Hard to use on a small screen.

3. Pen & Paper (The "Old School" Way)

Best for beginners to build the habit.

Pros:

• Psychological Impact: Writing "₹5,000 for Dinner" hurts more than typing it.
• Simple: No tech needed.

Cons:

• Hard to Analyze: Can't easily sum up "Total Food Expense" for the year.
• Physical: Can lose the notebook.

Which one should you choose?

• Beginner: Start with Pen & Paper for 1 month to feel the pain of spending.
• Intermediate: Switch to an App for convenience.
• Pro: Use Excel for deep analysis and net worth tracking.

7-Day Action Plan

Day 1: Download an expense tracker app (Axio/Fold). Give permissions and see what it finds.
Day 2: Create a simple Google Sheet with columns: Date, Item, Amount, Category.
Day 3: Log every single expense today. Even the ₹10 chai.
Day 4: Compare App vs Sheet. Which felt less friction?
Day 5: Set a recurring reminder (Sunday 8 PM) to review expenses.
Day 6: Identify one category where the App surprised you ("I spent ₹5k on Uber?!").
Day 7: Commit to ONE method for the next 30 days. Consistency > Perfection.

Quiz

💡 Final Wisdom: It doesn't matter if you use a stone tablet or a supercomputer. Just track. You can't improve what you don't measure.