Expense Tracker
| Date | Description | Category | Amount | Action |
|---|
Monthly Summary
Total Income: $0.00
Total Expenses: $0.00
Balance: $0.00
How to Use the Expense Tracker
- Purpose of the tool
- Helps you organize your monthly finances by tracking income, expenses, and savings.
- Provides a clear picture of how your money is allocated each month.
- Information you need to enter
- Your income amounts (all sources of income).
- Each expense item description (what the expense is for).
- The category of each expense (e.g., housing, food, transportation, entertainment).
- The amount for each expense.
- Any savings contributions you plan to make.
- If you make a mistake, you can clear that specific item while continuing to work on your tracker.
- How to use the tool
- Enter your income, expenses, and savings into the tracker.
- The tool will automatically calculate totals and differences.
- What the tracker will show you
- A detailed list of all your description items, categories, and amounts.
- A calculation that subtracts expenses and savings from your inputted income amounts.
- Your remaining balance after expenses and savings.
- Download option
- You can download the results into a CSV file.
- The CSV includes your income, expenses, savings, and balance, allowing you to create or maintain a monthly tracker spreadsheet.
- Clearing your data
- When you are finished, click the Clear All button to remove all inputs and results so you can start fresh.
Why This Matters
Your expenses are more than just numbers — they shape your financial freedom each month. A healthy budget keeps essentials at or below 60% of your take‑home pay.
When expenses climb above this threshold, you may feel financially strapped, with little room for savings, emergencies, or personal goals. Staying within the 60% guideline ensures you have 40% wiggle room for discretionary spending, debt payoff, and wealth‑building opportunities.
Essentials Breakdown
≤ 60% Essentials → 40% Flexibility
Tip: Use this tracker to see how your monthly expenses fit into the Monthly Financial Plan.