Spending less than I earn is the only way I’ll become more financially secure. Luckilly, I’ve been doing so for a long time now. I’d like to be earning more, but I guess I can’t have everything. Take a look at my latest income and expense report. I’ve added some interesting items, based on a suggestion from Brett last month.
I now include different columns in the report. The last two months leading up to the current month are included in order to show a recent trend. Then for comparison, I include year-to-date totals for 2004, 2005, and 2006. In 2004, I was using a different piece of software to track my expenses, so some of the details are missing, but the general idea is apparent.
The first line item: here is where I might complain about my salary. In 2004, my entire salary was rolled into one line, but in 2005 and 2006, I have the sources of income categorized. The lack of overtime available in my current position is what is causing the decline from April and from prior years.
One of my older web production clients is asking for a new website, so I expect to see random income on the “Other: Services” line at some point throughout the remainder of the year.
Everything else seems within reason. I like that I am on track for spending $1,000 less on utilities this year than last year (due to some efficient energy planning and the reduction of cable television).
I’ll write about my faovrite purchase of the month shortly.
Published or updated July 6, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.
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Luke Landes founded Consumerism Commentary in 2003 and has been building online communities since 1990. Luke, also known as Flexo, has contributed to PC World Magazine, US News, Forbes, and other publications. 
{ 4 comments… read them below or add one }
Thanks for incorporating the suggestions. And congrats on your utility savings!
do you have an excel template that you could share for the income statement and/or balance sheet?
Sure, Harold. I’ll be able to have it online by the end of the weekend.
Thanks that would be great!