introduction
Welcome to Expense Tracker.Our mission is to help you track your expenses
Important concepts:
- Income
- Expenses
- Ending Balance
Definitons
- Income
- Income is the revenue including salary,rent,passive income,etc..
- Expenses
- Expenses would be how much you are spending
- Ending Balance
- Ending Balance determines wether you are ok or overspending
How to calculate Your ending Balance
Determine if you want to make want to know your daily, weekly or montly expenses
- Calculate your revenue by adding all income
- Calculate your total expenses by adding up all bills and receipts
- Substract your expenses from your income
Understanding the results
Income - Revenue = Ending balance which can be net positive or net negative
net positive means you are spending withing your budget
net negative means you are spending way beyond your budget
For more information about this,visit the Expense calculations