The addition of costs for a period allows us to calculate the average standard of living for the period and build the respective “Rose of spending”. Over time, you will get the graph of your standard of living and understand what it is made up of and how it changes.
The graph displays the time aspects of spending in different colors, so you can clearly see how your life has changed over the period. By studying the data, one can see what expenses are desirable for achieving a balance between the three time components and what expenses should be avoided. These answers are often evident only because of the triple record.
At the same time, you can display the average daily income and the dynamics of its change in the period. Obviously, the standard of living depends only on our spending but it, in turn, is limited with income. Days in which the standard of living curve is above the level of income are loss making, it is useful to analyze the reasons for additional expenses on such days and reassess the validity of such expenses in the future.
The combined assessment of the parameters of all financial records may not be enough for a full analysis of the situation, in this case, working with projects can help.