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Use the work sheet below to make your own personal budget.
At the beginning of the month, write the amount you plan to spend
in the appropriate column. During the month, record what you actually
spent. Track your spending for a few months. Skip expenses that do not apply to you.
Monthly Budget Work
Sheet |
| Income |
Projected Income |
Actual Income |
| Job (including babysitting, yard care, etc.) |
|
|
| Allowance |
|
|
| Other (financial aid, gifts, etc.) |
|
|
| Total Monthly Net Income |
=$ |
=$ |
| Expenses |
Amount Planned |
Actual Expenses |
| Home/Utilities |
Food |
|
|
| |
Rent/Mortgage payment |
|
|
| |
Utilities |
|
|
| |
Home maintenance |
|
|
| |
Phone/Hand-held devices |
|
|
| |
Internet service |
|
|
| Debt |
Credit card(s) payment |
|
|
| |
Loan(s) payment |
|
|
| Insurance |
Auto insurance |
|
|
| |
Renters/Homeowners insurance |
|
|
| |
Health insurance |
|
|
| |
Other |
|
|
| Education |
Tuition |
|
|
| |
Books/School supplies/Uniforms |
|
|
| Transportation |
Vehicle payment |
|
|
| |
Gasoline/Parking/Tolls |
|
|
| |
Vehicle maintenance |
|
|
| |
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 should consider decreasing expenses or increase income to reduce or eliminate debt.
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Basic Money Management
Basic Money Management
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