MT Week - Money Rules: Make a spreadsheet

Last month, Shoestring Cottage’s Jane Berry shared how tracking her spending helped her to manage her finances.

It’s a money rule that she started following in 2009, and one that she continues to follow.

But Berry likes to do it old school - by recording everything in a notebook.

This month’s money rule takes a digital spin on the same idea: make a spreadsheet.

It comes from Edmund Greaves, a personal finance expert and editor of money blog Mouthy Money

He says: “Spreadsheets are the easiest way to map out your money, and I make spreadsheets for basically everything from household bills to building savings or paying off debt. 

“I've become so nerdy about it that the sheet has its own formulas and weightings. It's the only way I get anything done with my money.”

Here he explains why it’s his number one money rule.