Finance Tracker Template
Finance tracker templates can be incredibly useful for individuals or businesses to keep track of their financial activities, budgeting, and expenses. Whether you're managing personal finances or monitoring business expenses, a well-designed template can streamline the process and provide valuable insights.
A Finance Tracker in Notion is a tool designed to help you manage and monitor your financial activities. It allows you to keep track of income, expenses, budgeting, savings, investments, and other financial aspects.
Accounts
Accounts typically refers to a specific financial entity or category that you want to track separately. Each account represents a distinct pool of money, and you might use different accounts to manage various aspects of your finances.
Account Name: The name of the financial account (e.g., Personal, Business).
Current Balance: The current balance of the account.
Starting Balance: The initial balance when tracking started.
Monthly Income: Income expected or received each month for that account.
Monthly Expenses: The planned or typical monthly expenses for that account.
Total Expenses: The cumulative total of expenses over time for that account.
Total Income: The cumulative total of income over time for that account.
Including a row at the bottom of the table to display the sum of each column
Users can input the relevant data in the placeholders provided.
At the Left Side there is a Quick Action Block, In this block we have New Income, New Transfer, New Account, New Expense, New Subscription.
For Example when we tab on New Income It includes Accounts, Amount, Created Time, Date, This Month amount, Month, Year, This Month Check box and This Year Check Box. You can add details on them.
Monthly Budget
This section refers to a visual representation of data. This includes different types of budget details as mentioned below
Budget Data:
For each category (e.g., Health & Wellness, Investment, Transport, Entertainment), you can include the following information:
Monthly Budget:
The planned or allocated budget for that category for the current month.
Expenses:
The actual expenses incurred in that category during the current month.
Progress:
The percentage of the budget that has been used based on the expenses incurred. This can be calculated as (Expenses / Monthly Budget) * 100.
Remaining:
The remaining amount in the budget for that category, calculated as (Monthly Budget - Expenses).
Subscription:
If applicable, you can note any subscription costs associated with that category (e.g., gym membership, streaming services).
This Month:
A summary of the total expenses and budget progress for the current month in that category.
This Year:
Similar to "This Month," but provides a cumulative view for the entire year.
Subscriptions
A subscription, in the context of personal or business finance, refers to a recurring payment or fee that individuals or organizations pay at regular intervals to access a particular product or service. Subscriptions are prevalent in various industries and typically involve ongoing services, content, or access to resources. In this table we have
Name:
The name of the subscription service, e.g., LinkedIn, Netflix, Loom, Prime Video.
Cost:
The cost associated with the subscription. This could be the monthly or yearly cost, depending on the subscription model.
Billing:
Indicates the billing frequency, such as monthly or yearly.
Monthly Cost:
The monthly cost of the subscription, which is useful for budgeting purposes.
Yearly Cost:
The total cost for the year, providing a snapshot of the annual expense.
Subscribed:
A checkbox to mark whether the user is currently subscribed to this service. This can be helpful for quick visual reference.
Renewal Date:
The date when the subscription is set to renew.
Next Renewal:
The expected date for the next renewal. This could be calculated based on the current renewal date.
Status:
Indicates the status of the subscription, such as active, pending renewal, or canceled.
This Month:
A checkbox to mark whether the subscription is applicable for the current month. This can be useful for tracking which subscriptions are active or relevant for a specific period.
Category:
Categorizes the subscription service into a specific category (e.g., Entertainment, Business, Communication).
Goals:
Goals in the context of personal finance or business planning are specific objectives or targets that individuals or organizations set to achieve within a defined period. Goals help provide direction, motivation, and a clear focus on what one wants to accomplish. Let's explore three examples of financial goals: Saving, Opening a New Account, and Starting a Transport Business. You can add as many Goals as you want
Saving Goal:
Objective: To accumulate a specific amount of money for a particular purpose within a set timeframe.
New Account Opening Goal:
Objective: To open a new financial account, such as a savings account or investment account
Starting a Transport Business Goal:
Objective: To launch and operate a transportation business, such as a taxi service or a delivery
Expenses
Expenses, in the context of personal or business finance, refer to the money spent on goods, services, or other financial obligations. Tracking expenses is a fundamental aspect of financial management as it helps individuals or businesses understand where their money is going and enables them to make informed decisions about budgeting and financial planning.
Here are key components of expense tracking:
Name:
This is a descriptive label for the type of expenditure. It could include various categories such as groceries, utilities, rent, transportation, entertainment, or any specific item or service for which money is spent.
Date:
The date column indicates when the expense occurred. This helps in organizing and analyzing spending patterns over time. It's particularly useful for identifying trends or specific timeframes with higher or lower expenditures.
Amount:
The amount column represents the monetary value associated with the expense. It could be in the local currency or any other currency depending on the user's preference. Tracking the amount allows for a clear understanding of the financial impact of each expenditure.
Income
Income, in the context of personal or business finance, represents the money received from various sources. Tracking income is essential for understanding financial inflows, managing budgets, and making informed financial decisions. Here are the key components of tracking income:
Name: describes the origin or nature of the income.
Date: indicates when the income was received.
Amount: specifies the monetary value associated with each income source.
