Personal Finance Tracker
Accurately map your incomings and outgoings for better financial management.
Income
| Source | Monthly (INR) |
|---|---|
| Income from Employment / Self Employment (Mandatory) | |
| Pension / Annuity Payouts | |
| Bonus (Optional) | |
| Other Income Source (Optional) | |
| Total Income | 0 |
Expenses
| 1. EVERYTHING HOME | |
|---|---|
| Mortgage / Rent (Mandatory) | |
| Buildings & Contents Insurance | |
| Bank Account Fee | |
| Overdraft Cost | |
| Property Tax | |
| Water Rates / Meter | |
| Gas | |
| Electricity | |
| Household Maintenance | |
| Garden Maintenance | |
| Cleaning Products / Cleaner | |
| Internet | |
| TV License | |
| Mobile Phone | |
| Home Total | 0 |
| 2. INSURANCE | |
| Life Insurance | |
| Car Insurance | |
| Insurance Total | 0 |
| 3. EATS, DRINKS & SMOKES | |
| Food and Household Shopping | |
| Eating Out | |
| Eats Total | 0 |
| 4. MOTORING & PUBLIC TRANSPORT | |
| Car Maintenance | |
| Car Insurance | |
| Fuel / Petrol | |
| Parking | |
| Transport Total | 0 |
| 5. FAMILY | |
| School Trips | |
| Family Total | 0 |
| 6. BIG ONE-OFFS | |
| Birthdays | |
| Sofa / Kitchen / TV | |
| Big One-Offs Total | 0 |
Results:
Total Income: 0 INR
Total Expenses: 0 INR
You spend less than you earn by 0 INR.
Getting Started with the Personal Finance Tracker
This Personal Finance Tracker is designed to help you manage your money by tracking your income and expenses. By entering numbers in various categories, you can instantly see how much you’re earning, spending, and what your balance looks like at the end of the month.
Let’s break it down:
Step 1: Income
Start by entering your monthly income in the relevant sections. The table is divided into categories like:
- Income from Employment / Self Employment: This is your main salary or business earnings.
- Pension / Annuity Payouts: If you receive regular pension payouts, this section is for you.
- Bonus and Other Income: Have any side hustles or irregular income streams? Enter them here.
For example, if you earn ₹60,000 from your job, receive a ₹5,000 pension, and had an extra income of ₹3,000 from a freelance project, simply enter those figures in their respective sections. The calculator will automatically total it up for you.
Example:
- Employment: ₹60,000
- Pension: ₹5,000
- Freelance income: ₹3,000
- Total income: ₹68,000
Step 2: Expenses
Now it’s time to tackle the outgoings, which are divided into several important categories to ensure you don’t miss anything:
1. Everything Home
This section covers all your household-related expenses like rent or mortgage, utilities, and even household maintenance. Let’s say your rent is ₹15,000, your electricity bill is ₹2,000, and household maintenance costs you ₹500. Input these figures, and the calculator will give you a total for this section.
Example:
- Rent: ₹15,000
- Electricity: ₹2,000
- Household Maintenance: ₹500
- Total Home Expenses: ₹17,500
2. Insurance
Cover your essential insurance needs such as life insurance or car insurance. You can enter what you pay for each type of insurance here.
3. Eats, Drinks & Smokes
This is where your food, dining out, and drinks expenses go. If you spend ₹6,000 on groceries and another ₹2,000 on eating out, your total for this section would be ₹8,000.
4. Motoring & Public Transport
Do you own a car? Include your car maintenance, fuel, and parking expenses here.
5. Family
Include any school trip costs or family-related expenses.
6. Big One-Offs
This section is for those large, one-time expenses like birthday gifts or big household items. It’s always helpful to keep an eye on these one-off purchases because they can sometimes go unnoticed.
Step 3: The Results
After entering all your income and expenses, hit the “Calculate” button. The calculator will instantly display:
- Total Income: The total amount you’re earning monthly.
- Total Expenses: Your total monthly outgoings.
- Difference: Whether you’re spending more or less than you earn.
If you spend less than you earn, the difference will be shown as a positive number, giving you a sense of relief. If the number is negative, it’s time to rethink your spending habits.
Example Scenario
Let’s consider a hypothetical scenario. Say you earn ₹70,000 per month and your total expenses add up to ₹55,000. The difference would be:
Total Income: ₹70,000
Total Expenses: ₹55,000
Difference: ₹15,000
This means you’re in good shape financially, with ₹15,000 left over for savings or investments.
However, if your expenses add up to ₹72,000, you’ll be overspending:
Total Income: ₹70,000
Total Expenses: ₹72,000
Difference: -₹2,000
This means you’re spending ₹2,000 more than you’re earning, and it’s a sign to revisit your spending habits.
Why This Tracker Matters
The Personal Finance Tracker helps you:
- Understand your spending patterns: See where most of your money goes.
- Take control of your budget: Know exactly how much you have left at the end of the month.
- Plan for future expenses: Use the “Big One-Offs” section to budget for large purchases.
- Set financial goals: Identify areas where you can cut back to save for your dreams.