Expense to Income & Savings Rate Calculators
The "Expense to Income & Savings Rate Calculators" template is designed to help you measure two key financial metrics: your expense-to-income ratio and your yearly savings rate. These metrics are essential for tracking how much of your income goes toward expenses and how much you’re saving over time, giving you a clear picture of your financial health.
Purpose:
This template allows you to quickly calculate your expense-to-income ratio and yearly savings rate, helping you stay on top of your budget and make informed financial decisions. By tracking your total expenses, income, and net profit on a month-over-month basis, you can better manage your financial goals, ensuring you live within your means while saving effectively.
How to Use This Template:
Import the template to your Fina account.
Expense to Income Ratio:
This ratio shows how much of your income is consumed by expenses. It’s calculated as:
Monthly Expenses ÷ Total Income × 100
Adjust the "Monthly Expenses" and "Total Income" variables to match your current financial data, and the formula will automatically update.
Yearly Savings Rate Calculator:
This helps you track the percentage of your income you are saving. It’s calculated as:
Net Amount Saved ÷ Total Income × 100
Update the "Net Amount Saved" and "Total Income" fields to reflect your savings and income data.
Track Total Expenses, Income, and Net Profit:
The bottom section tracks your Total Expenses, Total Income, and Net Profit for the year. This gives you a snapshot of your overall financial performance.
The "Net Profit Month Over Month" graph shows how your profit has fluctuated throughout the year, helping you spot trends in spending and savings.
Tips:
Keep an eye on the Expense to Income Ratio and aim for a lower percentage, which indicates better financial health.
Regularly update the template with your latest financial data to ensure you’re getting an accurate picture of your savings rate and profit.
Whether you're managing personal finances or working toward your savings goals, this template provides a powerful way to stay in control of your income, expenses, and overall financial health.