What a difference it can make, but the unfortunate thing is that a lot of people seem to discount its value and what it do for you.

Like you say, if you can track your spending on a daily basis you'll know how much you're spending. It not only tells you whether you are living within your means, you'll also know if adding another monthly payment can be worked in.

My take is whatever system you use, it's wise to use something so that you get a much clearer picture.