Income & Expenses

Do you know how much money you earn?
Make a list of your monthly sources of income: your salary and your spouse's salary, commissions, tips, allowances, pensions, and others.

 

 

 

 

Do You Know Where Your Money Goes?
At one time or another, all of us have asked ourselves: Where does all my money goes? We are quite certain about our big expenses --car and mortgage payments, private school fees-- but it is quite difficult to determine where the rest of the money goes.

 

To help you answer this question, we suggest the following:

• Keep track of your daily expenses. Save your purchase receipts; write down how much and for what you spent your money. You may also connect to Internet Banking to keep track of your daily transactions. Remember to include your payments with cash, debit cards and credit cards.

 

• Make a list of all your monthly expenditures. Remember to include a summary of your daily expenses.

 

• Fill the personal budget worksheet to compare your monthly expenditures against your income.