Looking at Your Spending and Debt
- Is Your Spending out of Control?
- Your Consumer Debt Ratio
- Calculating Your Total Debt Ratio
- Why Have I Gotten Into Debt?
- Income and Expenses
- Figuring Out Your Paycheck
- Expenses Line by Line
- Constructing a Spending Plan
- Case Study: Jennifer–Things Gone Wrong and How to Fix Them
- Forecasting Income and Expenses by Age
- When You Have Too Much Debt
- Allowances
- Saving Money on Company Benefits
Income and Expenses
To be successful in managing your cash flow and debts, you need to have an accurate picture of both your income and your expenses.
Income
Income is any money you receive. Taxable income includes wages, alimony, certain interest dividends, rental income, commission and tips, unemployment compensation, capital gains, pension, annuities, Social Security and royalties. Non-taxable income includes child support, gifts, and inheritances.
Expenses
Expenses are more varied, ranging from obvious items such as mortgage (or rent) and food, to items that you might not normally keep track of, such as home repair, grooming and entertainment. The Cash Flow worksheet is a tool you can use to start keeping track of your monthly expenses.
To get the necessary clear picture, you will need to figure out your paycheck and track your expenses line by line.Share Article:
FINRA SIPC
Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Not FDIC Insured | Not Bank Guaranteed | May Lose Value | Not Guaranteed by any Government Agency | Not a Bank Deposit
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. Infinex Investments Inc. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all the investments and services mentioned are available in every state.
