I agree, generally. But there is always a bit of a nuance when it comes to personal finance. I have gone through the full cycle, I started off with logging every single transaction, then syncing everything and tracking monthly cash flow, investment dashboards and then to yearly syncs and now I barely think about it.

What happened was I slowly built an awareness of how things are going, where my spending and savings are and internalised a few things. For example, as a contractor I responsible for my taxes, so 30% of my invoice goes into a savings account as soon as I get paid. But, that wouldn’t have happened right away for me, if I have never done the monthly cash flow.

I think everyone goes through this journey. Because I often see people super into accounting for a couple of years and then completely abandon it later in life. Looking at it daily in early stages help get a feel and set expectations for the long term. Some people get sidetracked here and the phrase “Beat the market” grates on me for that reason.