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0:00 3-Step System To Track Your Money
1:18 How To Track Your Spending
2:31 Consolidate Your Spending Into One Spreadsheet
03:36 Categorise Your Spending
06:58 Analyse Your Spending
09:39 InvestEngine
11:09 Increase Your Income
13:21 Calculate Your Net Worth
17:22 Take Action Now!

Excel formula mentioned in the video:
=SUMIF(F:F,”Bank Fees”,D:D)

This is the system I use to track my money – it helps me to spend less each month, drive up my earnings and invest so that my money works for me. I’ve developed this 3-step process using personal finance advice from books like the Psychology of Money and Rich Dad, Poor Dad, and it has increased my net worth by over £100,000 in the last year.

To break it down, step 1 is a once-a-year review of all of my spending – yes, all of it! It’s the only way to reduce “low-output” spending (i.e., spending on stuff that doesn’t give you high satisfaction for the money you’re spending on it) so that you can spend more on the stuff that matters and save more of your income each month. Step 2 is then to increase your income – this is the one I think most people just don’t think about, and I guarantee you literally anyone can follow this part of the system to earn more. Then, the final step is to calculate your net worth to analyse whether you should be paying off more of your debt, investing more, diversifying your investments or changing your financial habits altogether.

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About Me

I'm a lawyer, part-time YouTuber, son, brother, startup founder, fiancé, black coffee drinker and plant dad. I graduated from Cambridge University (where I studied French and Spanish), topped my law school class and now work for a corporate law firm in London as a trainee solicitor (which takes up a lot of my time)!

Around that, I'm a big fan of discovering new ways of thinking, of balancing work with life, and of performing to the very best of my ability. Ohh, and being happy. And I try to share all that on this YouTube channel 😀

Fun fact: I believe we massively overplay the role of “natural talent” 😮 AND… I also believe that TOGETHER, WE ARE ALL CAPABLE OF POSITIVITY, PRODUCTIVITY AND SUCCESS.

📸 Instagram –   / liam.porritt  
🌍 My little kingdom – https://liamporritt.com

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Disclaimer:
Information, views and opinions depicted in this video are my own. Information visible on screens or in documents does not relate to my work as a lawyer for clients. This is not financial advice.

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Thanks so much to InvestEngine for sponsoring this video 🫶