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.

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