Writing things down is one of the most important things to remember when tracking personal expenses. ng all the things you need to do, grab these free printable checklists! How Does it Work RELATED: If you are having trouble remember.

Business expenses (track small business items separately from personal for tax purposes).

Car insurance / house insurance / life insurance.

Birthday and/or anniversary gifts for friends and family.

In addition to monthly bills (i.e., utilities, car, home payments, etc.), you might add some of the following items to your expense log.

I've included a budget sheet for you to download that will be helpful when creating a budget. It can be challenging to learn our financial habits. Once these items have been listed, total them up and compare them to your income to determine if there is room for savings or investments. Then add on fixed costs such as gym memberships or streaming services.įinally, tally up the variable expenses like groceries, dining out, and entertainment costs that change monthly.

If you need help determining where to begin, look at your bank account and credit card statements to see where your money is going.īegin by listing all the regular bills that are due each month, such as rent/mortgage payments, car payments, insurance premiums, and utility bills. It can also help you identify areas where you can reduce spending or save money.Ĭreating a list of monthly expenses is relatively simple. If you want to get your finances in order, a great place to start is by creating a list of monthly expenses.ĭoing this will give you an understanding of your overall financial picture and help you create a budget.

The ability to classify expenses by category also makes it easier for users to prepare tax returns at the end of the year because they have all the necessary information. This data collected in an organized manner allows users to set limits on specific spending categories and adjust their budget accordingly. The most important benefit of using a monthly expense tracker is seeing where one's money goes each month and identifying areas that need improvement. This tracker helps one track expenses in categories like food, rent or mortgage payments, utilities, transportation costs, and other miscellaneous items. It lets the user view their spending and saving habits at a glance, allowing them to make informed decisions about how they use their money. By subscribing, I consent to receiving emails.

Income and expense tracker printable