Deficit on Income And Expenses Statement
June 2nd, 2006 by Questions
My monthly expenses are about $1200. My income is low and irregular. One month it may be $1700 and I run surplus (I save $500), another month it may be only $800 and I run deficit (I spend $400 of my savings).
Should I include my savings from previous months (as well as savings on the day of bankruptcy) as income on each Income And Expenses Statement, so there is never a deficit ?