What is an Expense Tracker?
This is one of the tabs taken from my all-in-one finance tracking spreadsheet. You can use it to track all your monthly and yearly expenses.
It will produce graphical representations of your spending so you can see exactly where your money is going every month.
It will also show you your income vs your outgoings. Just like the below:
I recommend using Yolt (UK) or YNAB (US). These apps link to your bank accounts and automatically track your expenses and categorise them for you. You can then transfer that information over to this spreadsheet.
Within the same tab, you can also enter your income. This enables the in-built formula to calculate the income:outgoing's ratio.
Tracking this information is a key, first step to getting a better understanding of your personal finances. This is important because once you understand your money, how much you have, where it's going and the impact of your spending habits on your finances, you're much better equipped to make better choices.
And once you start seeing improvements, you'll only want to see more. This all adds up to greater financial security and a brighter future for you and your family.
I hope this set's you on the path to achieving great things with your finances!
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