How To Track Your Investments

How To Track Your Investments

Once you begin the process of investing and planning the estate of your finances for the future and retirement you will most certainly want to keep firm tabs on these investments.  Tracking your investments carefully allows you to maintain responsibility for your money by making the necessary adjustments or consulting a professional to make the adjustments when you notice certain events or changes taking place.

Today, there are a wide variety of tools at your disposal for tracking your investments depending on your circumstances and the complexity of your finances.  Advances in modern technology have allowed computers and the internet to play a vital role in tracking finances and investments with all of the important conventions of traditional bookkeeping preserved.

In contemporary time, it is unrealistic to expect that everyone involved with investments will have the time to consult their broker every day or take up a certified accounting designation in their spare time.  Yet, people are still expected to be vigilant with their investments while fulfilling their daily routines in life.  Therefore, different mediums and tools for tracking investments can become incredibly important and allow people the comfort and ease of tracking investments while not being distracted from the other things that matter in life.

Online Tracking

As previously mentioned, advances in internet technology and communication have influenced the majority of the financial industry to encourage online investment tracking.  Most major banking companies in the United States of America offer this format for tracking investments.  Typically, you will be given a password and corresponding information set for your account so that you and your family can easily track investments.

Additionally, there are other companies that will allow you to maintain an organized record of investment information from previous years simply by downloading a free template.  Lastly, if you are not interested in keeping a close eye on your investments and would prefer to check on your accounts infrequently you can typically do so as a part of your standard banking options.

Microsoft Excel Tracking

Microsoft Excel is a program that is also extremely popular for tracking investments.  Microsoft Excel offers you the ability to open multiple tabs to maintain multiple accounts concerning your investments.  Excel also makes it very easy to manipulate hypothetical scenarios with your investments or aggregate your accounts together.

Although it is recommended that you have a solid understanding of the functionality of Microsoft Excel, the program itself has a very accessible and interactive help menu and most business places utilize this program consistently and provide training to people on how to use it effectively.

Business woman showing investment growth to a young man on the computer

QuickBooks Tracking

Finally, another one of the more popular investing tracking mediums is the Quickbooks tracking system, which makes gathering data on some of the most complex transactions seem fairly easy.  However, it is worth pointing out that the system only makes tracking easier if you already have a strong understanding of basic accounting practices.

Nonetheless, this program is available in a beginners format that is free to find on the internet and helps walk you through simple tracking procedures.  Again, it is important to reiterate that if you do not have a strong knowledge of accounting practices and you are not attempting to track complex transactions then the free version is perfectly suitable.

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