This is a record of your flow of cash, into your budget and out. Income will primarily be from your employment but would also include interest earned, funds from loans and grants (especially for students). Outflow includes costs for housing, food, debts, utilities, discretionary spending and even savings. This is a complete accounting of all funds in and out. The key element in the outflow is what remains for that last item, savings. Discretionary spending is also of great interest as when the outflow exceeds the income, it is the item that, with savings, you adjust first.
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This is a record of your flow of cash, into your budget and out. Income will primarily be from your employment but would also include interest earned, funds from loans and grants (especially for students). Outflow includes costs for housing, food, debts, utilities, discretionary spending and even savings. This is a complete accounting of all funds in and out. The key element in the outflow is what remains for that last item, savings. Discretionary spending is also of great interest as when the outflow exceeds the income, it is the item that, with savings, you adjust first.
