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Income and Expenses
Updated: 3/26/2020
Income and Expenses
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  • I suggest that you create a Income and expense statement
  • I've really been struggling to pay my mortgage lately along with other things, any advice
  • Yes, it will help you manage your financial decisions
  • Income and Expenses of course
  • Really? what do I put on it?
  • Income is money that you've received like from a job and expense is money that you've spent like for insurance
  • It's very helpful, it also shows you if you have net gain or net loss
  • That sure sounds helpful
  • Net gain is when your income is greater than expenses and net loss is when you expenses are greater than you income
  • An example of an expense is buying dog food for a pet
  • What an example of an expense
  • Yes, you definitely have to have a high Net income when owning a pet
  • For example the owner of the bakery across the street
  • What an example of an income
  • Yea, the owners gross income is earned from working at the bakery
  • No problem
  • Wow, thanks for helping me understand everything
  • Yea, just let us know if you need any more help with your Income and Expenses or Saving
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