Finances will be the income and expense that I will have every month or year. Finances are divided into 3 part. The first is income. This is the money I earn or make that will come in every month. This money will go to my primary checking account and will get sorted through there.
The second is monthly expenses. These are costs that I will incur every month. Such will include food or insurance. Another example will be utilities. And finally there is annual expenses. These are costs that will come once a year. Example of this will be taxes, or insurances. These expenses are then divided into 10, and that money is set aside to account for these expenses.
The costs are as follows
$7,500 – $.6,000 = $1,500 available funds after expenses.