The primary purpose when monitoring expenditure against income is to ensure that expenditure does not exceed the available income. As when monitoring expenditure against budget, the first problem is how to identify which sources of funds are showing significant surpluses or deficits.
Explanation:
5 Steps for Tracking Your Monthly Expenses
1.Check your account statements.
2.Categorize your expenses. ...
3.Use a budgeting or expense-tracking app..
4. Explore other expense trackers.
5. Identify room for change.
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