Monthly Income and Expense Tracker
Overview
Managing personal finances is crucial for ensuring sustainability and achieving long-term goals. This tracker helps you log, evaluate, and improve your financial activity each month. With a blend of tables for structured data and narrative explanations, you can gain clear insights into your income and expenses.
Monthly Income
Below is a table summarizing your income sources for this month. Understanding where your money comes from helps in planning and prioritizing expenditures.
Source | Expected Amount | Received Amount | Date Received |
|---|
Salary | $3,000 | $3,000 | 1st of the month |
Freelance Work | $500 | $450 | 15th of the month |
Monthly Expenses
This section details your main expenses, helping you identify areas where you might manage costs more effectively.
Category | Budgeted Amount | Actual Amount | Date Paid |
|---|
Rent | $1,000 | $1,000 | 5th of the month |
Groceries | $300 | $350 | Throughout the month |
Utilities | $150 | $140 | 10th of the month |
Entertainment | $200 | $250 | Throughout the month |
Summary
At the end of the month, it is essential to compare your total income with total expenses to determine if you are saving money or living beyond your means. Reflect on the differences between budgeted and actual amounts.
Total Income: $3,450
Total Expenses: $1,740
Savings: $1,710
Recommendations
Based on this month's tracker, consider the following recommendations to improve your financial health:
Adjust your entertainment budget to avoid overspending.
Explore additional side income opportunities to boost savings.
Review groceries expenses and plan meals to stick to the budget.
