Monthly Income Minus Monthly Expenses

Fixed expenses utilities loan repayments insurance premiums food etc.

Monthly income minus monthly expenses. However a budget is really just a tool to gain a better and more accurate insight into your spending habits. A positive number indicates that you make more than you spend and therefore are able to save money. List all your monthly expenses. Rent or mortgage enter your monthly rent or mortgage bill here.

The result is an exact balance between the amount of money that is earned versus the amount that is saved and spent. With a few clicks of the mouse you can label a 2 500 deposit as a paycheck a 500 transfer as a credit card payment and a 1 500 check as a rental deposit. College loans if you are making payments on a college loan enter the monthly payment here. Streamline how you budget your income each month with this comprehensive accessible template that calculates the difference between projected and actual expenses.

How should i budget my monthly expenditure. Assuming a 120 000 annual salary your monthly take home page is about 6 500. Minus off expenses from your income sources will give you your savings. Some questions you may have.

Other income enter any extra monthly income you might make from a night job royalties etc. 70 time tested ways to build your wealth. With a complete list of all of your bank deposits outgoing checks and transfers in front of you you can begin the important task of categorizing all of your income and expenses. If your pay fluctuates based off tips varying hours and or commissions you can still calculate an estimated monthly income by adding up three months of income and then dividing by three.

If you follow this ratio and assuming an interest rate of around 4 your monthly mortgage payment works out to be 28 of your take home page. 120 minus your age investing ratio. Zero based budgets can be utilized by either individuals or companies and they are often prepared on a monthly or annual basis. If your pay fluctuates.

Things which rank close to food and shelter variable expenses luxuries travel plans gadgets etc. Loss or gain this number is total income minus total expenses and indicates your loss or gain. Use this budget worksheet to get control of your monthly living expenses. Car payment if you have a car loan s enter the total monthly payment s here.

Personal monthly budget spreadsheet. Divide this number by 12 to get your monthly income.