The Easiest Way to Track Finances (Without Apps)

A few months ago, an NRI in our Belong community posted something that resonated with hundreds of others.

"I have an NRE account, an NRO account, a UAE salary account, a savings account here, two FDs in India, a mutual fund SIP, some gold my mother holds, and a flat in Pune.

I earn well. But I have no idea what my actual financial picture looks like."

This is shockingly common. NRIs are among the highest earners in the Gulf.

Yet most can't answer a basic question: how much are you actually worth today?

The reason isn't laziness. It's that your money lives in too many places, in too many currencies, across too many institutions.

No single app tracks all of it. Most budgeting tools are built for people with one bank account in one country. That's not your reality.

The good news: you don't need a complex app.

You need a system that takes 15 minutes a month and fits on a single page. This guide gives you exactly that.

Why Most Money-Tracking Methods Fail for NRIs

Before building a system, it's worth understanding why the popular ones don't work for you.

Budgeting apps like Mint or YNAB connect to bank accounts.

They're designed for US or UK residents with domestic accounts. They can't pull data from SBI or HDFC. They don't understand NRE vs NRO. They can't handle AED and INR simultaneously.

Indian apps like ET Money or Groww track mutual funds well.

But they don't see your UAE salary, your ENBD balance, or your GIFT City deposits. They solve half the problem.

Manual expense tracking asks you to log every coffee and cab ride.

It works for a week. Maybe two. Then life gets busy and you stop.

Three months later, you're back to guessing.

The NRI problem isn't about tracking daily expenses. It's about seeing the full picture across two countries.

You need a bird's-eye view, not a microscope.

👉 Tip: Don't try to track every purchase. Track the big flows: income in, expenses out, savings balance, investment value. The AED 12 you spent on shawarma doesn't matter. The AED 3,000 you forgot to invest this month does.

The One-Page Money Tracker for NRIs

Here's the system we recommend to NRIs in our community.

It uses a single Google Sheet. No app downloads. No bank account linking. No subscriptions.

The sheet has four sections. Each section answers one question.

Section 1: What came in this month? (Income)

List every income source.

Your UAE salary. Any freelance or side income. Rental income from India. FD interest credited. Dividend payouts.

Write the amount and the currency.

Keep it simple. If your salary is the same every month, pre-fill it and update only when it changes.

Section 2: What went out this month? (Expenses)

Don't track individual purchases.

Track by category. Rent. School fees. Groceries and household. Transport. Family support to India. Insurance premiums. Entertainment. Subscriptions. Travel.

Pull these numbers from your UAE bank statement and credit card statement at month-end.

Most banks let you download a PDF or CSV. Scan it once.

Slot the totals into categories. Done in 10 minutes.

Section 3: What moved to safety or growth? (Savings and Investments)

Track what you transferred to savings and investments this month.

NRE account transfer. SIP deductions. FD deposits. GIFT City investments. Gold purchases. Any new investment made.

This section answers the most important question: did I actually move money from spending accounts to wealth-building accounts?

Section 4: What's my total position? (Net Worth)

Once a month (or once a quarter), update your net worth. List all assets and their current values.

Subtract any debts. This is your financial scoreboard.

Assets to include: UAE bank balances, NRE and NRO account balances, and FD values (use our NRI FD rate tool to compare). Also add mutual fund portfolio value, real estate estimates, gold holdings, GIFT City deposits and funds, and any other assets.

Debts to subtract: home loan outstanding, car loan, credit card balances, any personal loans.

Assets minus debts equals your net worth. Track this number monthly.

It's the only number that tells you whether you're actually making progress.

👉 Tip: Don't get bogged down in precise real estate valuations. Use a reasonable estimate. The goal isn't accounting precision. It's seeing the direction. Is your net worth growing by ₹50,000 a month? ₹1 lakh? Or is it flat? The trend matters more than the exact figure.

Setting Up Your Google Sheet (Step by Step)

You don't need Excel skills for this. Here's how to build it in under 20 minutes.

Step 1: Open Google Sheets (sheets.google.com). Create a new blank spreadsheet.

Name it "Money Tracker 2026."

Step 2: Create a tab called "Monthly Flow." Set up four columns: Category, Amount (AED), Amount (INR), and Notes.

Add rows for each income source and expense category. At the bottom, add a row for "Total In," "Total Out," and "Net Saved/Invested."

Step 3: Create a second tab called "Net Worth." List all your assets in one section and debts in another.

Add a "Total" row for each. The difference is your net worth. Add a date column so you can track it over time.

Step 4: At the end of each month, spend 15 minutes filling in the Monthly Flow tab.

Once a quarter, update the Net Worth tab.

That's the entire system. No formulas beyond basic SUM.

No pivot tables. No macros. If you can use a calculator, you can do this.

Step 5 (optional): Add a third tab called "SIP & FD Tracker" to monitor your ongoing investments. Columns: Investment name, bank/AMC, amount, start date, maturity date, current value.

This helps you see all your Indian investments in one place.

The Two-Currency Problem (And How to Solve It)

NRIs track money in at least two currencies. AED for daily life.

INR for Indian accounts and investments. Some also deal in USD, GBP, or SGD.

This creates confusion. Is ₹10 lakh a lot or a little? Depends on the exchange rate today.

Here's the simplest approach: track each currency separately and convert only for net worth.

For your Monthly Flow tab, keep AED transactions in the AED column and INR transactions in the INR column.

Don't convert daily expenses to rupees. It adds work and creates false precision.

For the Net Worth tab, convert everything to one currency. Pick whichever you plan to retire in.

If you're eventually returning to India, convert to INR. If staying in the UAE, use AED.

Use the current exchange rate on the day you update. Don't overthink it.

The rate will change next month. That's fine. You're tracking a trend, not filing a tax return.

Track exchange rate movements through our Gift Nifty tool and stay updated on how your investments perform relative to currency shifts.

👉 Tip: Bookmark the RBI reference rate page (Source: RBI Reference Rates). It publishes daily AED-INR rates. Use this once a month when updating your net worth. One source. One number. No confusion.

What to Track vs. What to Ignore

This is where most people overcomplicate things. Here's a clear split.

Track these (they move the needle):

Monthly income from all sources. Total monthly expenses by category (not individual purchases).

Amount transferred to savings and investments each month.

Total net worth (updated monthly or quarterly). SIP and FD status (active, matured, upcoming).

Ignore these (they create noise):

Individual purchases under AED 100. Daily fluctuations in mutual fund NAV. Currency rate changes between net worth updates.

Small bank charges and fees (track annually, not monthly). Social media comparisons about what others are investing in.

The purpose of tracking isn't to watch every penny. It's to answer three questions every month.

Am I spending within my limits? Am I investing consistently? Is my net worth growing?

If the answer to all three is yes, you're doing fine. Adjust only when something is off.

The 15-Minute Monthly Routine

Here's what your tracking routine looks like in practice.

On the 1st or 2nd of each month (set a calendar reminder):

Minutes 1-5: Open your UAE bank app. Check last month's total outflow.

Slot it into your expense categories. Most banks show category-wise spending. Use that.

Minutes 5-8: Open your Indian banking apps (SBI, HDFC, ICICI, or whichever you use).

Note NRE and NRO balances. Check if SIPs were deducted. Note any FD interest credited.

Minutes 8-12: Fill in your Monthly Flow tab. Income. Expenses. Savings and investments.

Calculate net saved.

Minutes 12-15: If it's a quarter-end month (March, June, September, December), update your Net Worth tab.

Check mutual fund values on your AMC app. Update property estimate if needed. Calculate total net worth.

Done. Close the sheet. Go live your life.

This routine works because it's short enough to actually do.

A 2-hour tracking session sounds thorough. Nobody does it twice.

A 15-minute check-in happens every month.

👉 Tip: Pair this with a fixed "money day" each month. The 1st of every month, you review last month's numbers and set up next month's transfers. Automate SIPs and NRE transfers so the money moves without you having to remember.

Beyond Tracking: The Numbers That Actually Matter

Tracking is a tool, not a goal. Here are the five numbers that actually drive your financial progress.

1. Savings rate.

Total saved and invested divided by total income.

Target: 30-40% during your UAE earning years. If you're below 25%, something needs adjusting. Our guide on how much NRIs should save covers this in detail.

2. Net worth growth.

Is it increasing each month? By how much? A flat net worth despite high income means spending is eating your earnings.

3. Investment-to-savings ratio.

How much of your non-expense money is actually invested vs. sitting in savings accounts?

Target: after your emergency fund is built, at least 70-80% of surplus should go to investments. Compare mutual fund options and FD rates to find the right mix.

4. Currency allocation.

What percentage of your wealth is in AED, INR, and USD?

There's no perfect ratio, but having everything in one currency creates risk. GIFT City investments add USD exposure within India's regulatory framework.

5. Debt-to-asset ratio.

Total debts divided by total assets. Below 20% is healthy. Above 40% needs attention. Zero debt with growing investments is the ideal NRI position.

Track these five numbers each month. They tell you more than any expense-tracking app ever could.

The NRI Accounts You Need to Monitor

Your money sits in more places than a resident's. Here's a checklist of accounts most NRIs should be reviewing.

UAE side: Salary account (primary bank). Savings or money market account (emergency fund). Credit card statement (for expense tracking).

India side:NRE savings account (tax-free, repatriable). NRO account (for Indian income like rent). NRE or NRO fixed deposits. FCNR deposits (if any). Mutual fund folios. Demat account (if holding stocks). GIFT City accounts (USD deposits, mutual funds).

Explore GIFT City alternatives through our AIF tool.

Other: Gold (physical or digital). Real estate (property documents). Insurance policies (term, health). Any overseas investments or retirement accounts.

Most NRIs have 8-12 financial accounts across two countries. No app connects all of them. Your Google Sheet does.

👉 Tip: Keep a "master password" document (encrypted or in a password manager) listing every financial account's login details. If something happens to you, your family needs access. This isn't just tracking. It's protection. Our guide on retirement estate planning covers why this matters.

Common Mistakes NRIs Make When Tracking Money

Mistake 1: Tracking expenses but not investments.

You know you spent AED 22,000 last month. But do you know if your SIPs ran?

If your FD matured and got auto-renewed at a lower rate?

The investment side needs equal attention. Use our NRI FD rate comparison to check if you're getting the best rates.

Mistake 2: Converting currencies obsessively.

Checking the AED-INR rate daily creates anxiety, not clarity.

Convert once a month for your net worth update. Ignore it the rest of the time.

Mistake 3: Ignoring India-side expenses.

Many NRIs track UAE spending carefully but forget about India costs.

Property maintenance. Insurance premiums paid in India. Family support. Annual trips home.

These add up to AED 15,000-30,000 a year. Factor them in.

Mistake 4: Not including hidden wealth.

Gold jewelry your mother holds. A plot of land in your hometown. Your PF balance from a previous Indian employer.

These are real assets. Include them in your net worth even if they're not liquid.

Mistake 5: Tracking without acting.

The sheet is useless if you don't change behavior based on what you see.

If your savings rate dropped to 15% last month, figure out why. If your net worth flatlined for three months, adjust your investment allocation.

What About Privacy and Security?

Your financial data is sensitive. A Google Sheet containing all your account balances needs protection.

Use two-factor authentication on your Google account. This is non-negotiable.

Don't include account numbers or passwords in the tracking sheet. Only balances and values.

Share the sheet only with your spouse or a trusted family member. Use Google Sheets' sharing settings to control access.

Consider an offline backup. Download a PDF of your net worth tab quarterly. Store it in a secure location. If your Google account is ever compromised, you still have records.

The sheet doesn't need to be fancy. It needs to be accurate, updated, and secure.

👉 Tip: Create a shared Google Drive folder called "Family Finances." Store your tracking sheet, insurance policies (PDFs), and a document listing all accounts. Share it with your spouse. If you're ever unreachable, they can access everything.

When You Outgrow the Simple Sheet

At some point, your finances may become complex enough that a simple Google Sheet isn't enough.

You might be managing 20+ mutual fund folios. Or multiple rental properties.

Or investments across three countries. Or a business alongside your employment.

At that stage, consider these upgrades.

A financial advisor who specializes in NRI portfolios can provide consolidated reporting.

Look for SEBI-registered advisors who understand cross-border tax. (Source: SEBI registered advisor directory)

Portfolio tracking tools like Value Research or Kuvera can consolidate your Indian mutual funds.

They won't track UAE accounts, but they simplify the India side.

Belong helps you consolidate your GIFT City investments, compare NRI FD rates, and track performance in one place.

But these are upgrades. Start with the simple sheet. Build the habit first. The habit matters more than the tool.

👉 Tip: The biggest risk to your finances isn't using the wrong app. It's not tracking at all. A basic sheet updated monthly beats a sophisticated tool that sits unused. Start simple. Upgrade when the simple version feels limiting.

The Tax Tracking Layer

For NRIs, tracking isn't just about wealth. It's about tax compliance.

Add a simple note column in your Monthly Flow tab.

Mark transactions that have tax implications.

Rental income from India? Taxable. NRO interest?

TDS deducted. Mutual fund redemption? Capital gains apply.

This makes tax filing season dramatically easier.

Instead of scrambling through 12 months of statements, you have a running record.

Your CA will thank you. Your tax filing becomes faster and cheaper.

NRE account interest is tax-free. GIFT City FD interest is tax-free under IFSCA.

But NRO interest, rental income, and capital gains are taxable. (Source: Income Tax Act, 1961) Knowing which streams are taxable helps you plan, not just report.

India's DTAA with the UAE can reduce your tax burden. But you need documentation.

A well-maintained tracker provides it.

Start Today. It Takes 20 Minutes.

You don't need a perfect system. You need a started one.

Open Google Sheets. Create the four sections. Fill in what you know today. Even rough estimates are better than nothing.

The NRIs who build wealth aren't the ones with the best apps.

They're the ones who know their numbers. They know their savings rate. They know their net worth. They know if they're on track or drifting.

Many NRIs in our WhatsApp community share their tracking templates and help each other stay consistent. Join through the Belong app.

Download the Belong app to compare NRI FD rates, explore GIFT City mutual funds, and track Gift Nifty all in one place. The clearest view of your money starts with one page.