|
Use copies of this work sheet to track your spending for several months. Skip items that do not apply.
| Income For The Month Of: ___________ |
Amount |
| Monthly gross income |
$ |
| Other
income (spouse, interest, etc.) |
|
| Total Monthly Gross Income |
=$ |
| Deductions |
FITW — Federal Income Tax Withholding
(if applicable) |
$ |
SITW — State Income Tax Withholding
(if applicable) |
|
| FICA — Social Security |
|
| FICA — Medicare |
|
| Total Deductions |
=$ |
| Monthly Net Income (total gross income minus total deductions) |
=$ |
| Monthly Expenses |
Amount Planned |
Actual Expenses |
| Charitable Giving |
| Place of worship |
$ |
$ |
| Other |
|
|
| Savings/Investments
(target at least 10%–15% of monthly net income) |
| Emergency fund |
$ |
$ |
| Retirement accounts (IRA, 401(k), etc.) |
|
|
| Other |
|
|
| Home/Utilities |
| Food |
$ |
$ |
| Rent/Mortgage payment |
|
|
| Utilities |
|
|
| Home maintenance |
|
|
| Property taxes (1/12 of total annual expense) |
|
|
| Furniture |
|
|
| Phone/Cell phone |
|
|
| Internet service |
|
|
| Debt |
| Credit card(s) payment |
$ |
$ |
| Loan(s) payment |
|
|
| Insurance |
| Auto insurance |
$ |
$ |
| Renters/Homeowners insurance |
|
|
| Health insurance |
|
|
| Disability insurance |
|
|
| Life insurance |
|
|
| Education |
| Tuition |
$ |
$ |
| Room/Board/Travel |
|
|
| Books/School supplies/Uniforms |
|
|
| Transportation |
| Vehicle payment |
$ |
$ |
| Gasoline/Parking/Tolls |
|
|
| Vehicle maintenance |
|
|
| Registration/License fees (1/12 of total annual expense) |
|
|
| Public transportation |
|
|
| Personal |
| Clothing |
$ |
$ |
| Laundry/Dry cleaning |
|
|
| Grooming (hair care, toiletries, etc.) |
|
|
| Child-care expenses (babysitters, child-care center) |
|
|
| Recreation/Entertainment |
| Vacation(s) (1/12 of total annual expense) |
$ |
$ |
| Entertainment/Dining out |
|
|
| Hobbies (for example, golf or tennis equipment and fees) |
|
|
| Club fees/Organization dues |
|
|
| Cable/Satellite television |
|
|
| Total Monthly Expenses |
=$ |
=$ |
| Calculate Monthly Cash Flow |
| Monthly Net Income |
$ |
$ |
| Less Total Monthly Expenses |
-$ |
-$ |
| Net Cash Flow (Deficit)* |
=$ |
=$ |
*If your net cash flow is positive, you can save more for emergencies or other financial goals. If negative, you will have to cut expenses or increase income (by taking a second job, for example) to reduce or eliminate debt.
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Basic Money Management
Basic Money Management
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