Hi everyone,
In this video, I will show you how I am using Quickbooks online to manage my personal finances. This video is just a quick overview of the concept and will not show step by step how to set it up. I will dedicate another video to cover the setup. In the past, I used to use a spreadsheet to keep track of my personal finance. Spreadsheets are great if you do not have too much data to keep track of but once you have multiple bank accounts and investments it becomes tricky. QBO makes the job easier and faster. It has a feed feature that will automatically import transactions right from your bank accounts. It will also allow you to proactively save up for big-ticket items like your dream vacation or a down payment on a new home. You can easily organize and keep track of all your money even if it is spread out in multiple bank accounts. You would be able to get an accurate monthly reporting and get a good view of your real spending habits. If you have multiple investments you can keep track and view their balances all in one spot.
You can also keep track of your rental properties if you have any and see your monthly cash flows. Instantly know your family net worth on a specific time so you can keep track of your progress year over year and see if you are on track for your long term financial goals. I know organizing your personal finance can be a difficult task, and hopefully, I did not confuse you guys too much. Stay tuned for the setup video that will follow.
My name is Koby Lerner I am an associate with Nour Private Wealth. I am passionate about my work and I am extremely client-oriented! My team and I focus on helping our clients build wealth faster and in a more tax-efficient way. If you are new to my channel make sure to subscribe! and If you have any questions please let me know in the comments below.
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