Revenue Source

Revenue, in a personal financial sense, is any acquisition of funds that may be applied toward living expenses and debt obligations. The most typical source of revenue for working individuals is their salary but the term applies to any source of money received by an individual for their use.

Tracking sources of revenue and comparing those monies to outlays or expenses is an integral part of personal financial budgeting. Only by matching revenues and expenses can an individual develop a plan of spending that allows them to live within their means and to avoid falling into debt. In the best case scenario such a plan also allows for financial savings.

Personal budgeting is considered to be a fundamental skill of personal finance and as such is often taught by entities that assist individuals with debt consolidation and management. There are numerous methods and tools available to assist with personal budgeting many of which are software based.

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