4 Different Ways You Can Keep Track Of Your Income

Many people are unsure of how to keep track of their income. It can be hard enough to track your expenses, let alone trying to figure out what you need to save for the future. But there are many different ways that you can do this! With these four tips, we hope that you will find a way that works for you and start saving money like never before!

Without further ado, here are four ways that you can keep track of your income.

Track Your Income in a Spreadsheet

One of the easiest ways to keep track of your income is simply listing it down in a spreadsheet. You can have one column for each pay period and then list all the money you’ve earned from work there! It’s simple, efficient, and will be easy to reference when things get a little hairy later on. If you’re not a spreadsheet person, you can always try using an app such as Google Sheets instead. It’s free and easy to use!

Spreadsheets will enable you to see exactly how much money you’ve made over a month. You will tell if your income is stable or not and can quickly check what expenses are draining your savings. Using an app like Google Sheets makes it quick, easy, and free for you to keep track of all of this information!

Generate Your Paystub Online

The next method on our list of keeping track of your income is generating a pay stub online. In the past, this would have been impossible as you needed some physical paper for it to be legitimate. But now, with all the advancements that we’ve made with technology and computers, there are plenty of websites that will allow you to do this without having to print anything out. With a paystub maker, you can enter in all your basic information and generate a template for you to print out later. All that’s left is filling in the numbers yourself!

Generating pay stubs online will allow you to keep track of what money has come into your account, how much tax was taken off, and when it came in too. It’ll also help you keep track of all the deductions you’ve made, so you will know exactly how much money is left over to spend on groceries and other necessities. This method takes a little bit more time than just tracking it in an app or spreadsheet but can be well worth the extra effort!

Keep Track of All Receipts and File Them in an Organized Folder or Box

Now, this isn’t the best way to keep track of your income, but it will help you in the long run. You must save all receipts so that you have something substantial for deductions when tax season comes around! If your employer didn’t deduct taxes from each paycheque, why not get a head start and do it yourself? By keeping track of what you spend, you can see exactly how much money is directed into your savings account. This will also help with filing for tax returns later on down the road too!

All receipts should be kept in a folder or box that’s organized either by month or year, depending on when you’re planning to file taxes. Once everything is filed, please take a glance at them before you throw them out. If any deductions could help lower your taxes later on down the road, it would be worth looking into!

Use Mobile Apps to Help You Stay on Top of Your Finances

The last method on our list of keeping track of your income is by using mobile apps. We live in an age where you can do most things with the use of a smartphone or tablet, so why not take advantage? There are many different kinds of finance and money management apps that will help you stay on top of everything from your bank account to your credit score. You can even use them to keep track of all the money you’ve made over a year!

Use mobile apps to help you stay on top of your finances so that it’s not as difficult for you when tax season rolls around again next year. Apps are great because they give real-time updates about how much money is coming into your account and how much you’re spending. You can also check things like credit scores, investments made on the side, or even see if there are any ways to save money on bills!

These four ways to keep track of your income are great ways for you to see the pulse of everything that is happening with your money. Doing this will make it easier for you when tax season comes again next year, and everyone needs proof about their yearly earnings!