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Your Monthly Income and Spending Tracker


  • Review the list of common expenses in Column A and add any other regular sources of income.
  • Record how much you receive each week in each category. Add up the total for the month in Column B.
  • Calculate your total monthly income in Box C.

Download Monthly Income and Spending Tracker (Microsoft Excel)


A.           B.

Week 1

Week 2 Week 3 Week 4 Week 5 Total
Income from jobs(s)            
Unemployment insurance            

Monthly benefits


Supplemental Nutrition Assistance Program (SNAP)

Low Income Home Energy Assistance Program (LIHEAP)            
Add other benefits you receive            

Other income


Child support, spousal support, etc.

Add other income            

C. Total for all income sources





  • Review the list of common expenses in Column D and add any other categories that you routinely spend money on.
  • In Column E, assign a priority rating to each expense. For essential costs that are fixed, such as rent, assign a "1." Essential costs that you might be able to reduce (grocery, transportation and utility bills, for example) rate a "2." Assign a "3" to optional expenses that could be reduced or eliminated altogether (like entertainment or eating out).
  • Record how much you spend each week on each category, and add up the total for the month in Column F.
  • Add up the monthly totals for all categories in box or cell H.
  • Compare the amounts in Box C (income) and Box H (spending).
  • If the amount spent each month is more than your income, look at the spending categories that you gave either a "2" or "3" priority rating, and think of ways you could lower or eliminate expenses for each of these categories.
  • Determine a new spending target for each of these categories (including Zero for optional categories you are willing to eliminate all together).
  • Record the new spending targets in column G. Be sure to transfer the dollar figures for the fixed essential expenses costs in column F over to Column G as well.
  • Add up the total targeted spending on cell I, and compare it with the total income in cell C. If the amount in cell I still exceeds the amount in cell C, look for additional cuts you can make in your spending targets.


Priority codes for Column E
1 = Essential       2 = Essential, but could reduce       3 = Optional, can eliminate
D. E.           F. G.
  Priority Week 1 Week 2 Week 3 Week 4 Week 5 Total New spending targets
Mortgage or rent
Maintenance costs                
Phones/cell phone plans                
Real estate
Self-employment / income tax                
Homeowner or renter insurance
Car/other vehicle                
Life insurance                

Loan payments
Car loans

Credit card payments                
Education loans                
Other (pay day loans, etc.)                
Child support or other court-ordered obligations                
Job-related expenses (for employed family members) such as tools, equipment, special clothing                
Donations to religious organizations or other charities                
Personal care
Dry cleaning                
Gym memberships                
Car repairs and maintenance
Public transportation                
Health care
Health, dental, vision insurance premiums
Doctor visits                
Prescriptions and over-the-counter medicine                
Eating out
All meals, snacks or beverages purchased and eaten outside of the home
Childcare and school expenses                
Movies, sporting events, concerts, DVD rentals
Food, vet bills, and other costs associated with caring for your pets
Other expenses                
            H. Current total spending    
              I. New spending target