Worksheet_Budget by fanzhongqing

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									   FINANCIAL EMPOWERMENT PROGRAM
   Personal Financial Basics




   Budget worksheet
Your first step toward meeting your financial goals is to create a budget. There are many online tools for you to use, like the My Portfolio® function on bankofamerica.com, that make it
very easy to create a budget and categorize your spending.

However, some like to start out by customizing a spreadsheet and tracking their spending manually for a period of time. Follow the instructions below to use the spreadsheet method.
1. To create your own personal budget, begin by reviewing all of the categories below. There are a lot of categories here, so simply delete any items that are not relevant to you and
add in any categories that may not be provided.
2. Pull copies of recent paychecks and any other income streams, as well as copies of recent bills. Or if you receive pay statements online or pay bills online, review your statements
and payments there.
3. If the payment is a fixed amount each month, fill in the amount next to the appropriate category for the current month. If the payment varies each month and you have a record of
what you have paid for the past 12 months, add up the payments and divide by 12 to obtain the average monthly amount.

4. Divide annual expenses by 12 to allocate them monthly. This will help you get a true picture of your expenses each month and allow you to budget and allocate for annual expenses.
5. For the first few months, you may want to add an "Actual" column, so you can compare what you estimated against your actual expenses. You should then modify future month
allocations accordingly to meet your goals.

                                           Jan          Feb        March          April          May          June          July          Aug          Sept           Oct           Nov     Dec
Income
   Salary                                  0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Cash bonuses/commissions                0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Interest/dividends                      0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Investments                             0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Trust income                            0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Other                                   0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Total income                            0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

Expenses
Taxes
  Federal                                  0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  State                                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Local                                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Real estate                              0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

Financial
   Retirement - 401(k)                     0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Retirement - IRA                        0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Savings goal                            0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Credit card debt                        0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Income tax (from 1099 work)             0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
   Other                                   0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

House/utilities
  Mortgage/rent                            0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Condo/management fee                     0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Homeowners' insurance                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Electric                                 0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Gas                                      0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Water/sewer                              0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Cleaning service                         0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Lawn service                             0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Security system                          0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Home repairs/improvement                 0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

Health
  Gym/health club                          0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Health insurance                         0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Doctor copayments                        0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Prescriptions                            0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Life insurance                           0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Other medical payments                   0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

Food
  Groceries                                0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Dining out                               0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00

Technology/phones/media
  House phone                              0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Cell phone                               0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Internet                                 0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Cable                                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  DVR                                      0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  DVD rental                               0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Downloads/apps/iTunes                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Books/movies                             0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
  Music                                    0.00          0.00          0.00         0.00          0.00          0.00         0.00          0.00          0.00          0.00         0.00    0.00
                                 Jan    Feb    March    April   May    June    July   Aug    Sept    Oct    Nov    Dec
Expenses (continued)
Transportation
  Car payment(s)                 0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Car insurance                  0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Gas                            0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Parking                        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Repairs                        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Car wash/detailing             0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Public transportation          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Entertainment
  Gifts                          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Sporting events/tickets        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Movies                         0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Concerts/plays                 0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Bars/clubs                     0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Other                          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Vacations
  Plane fare                     0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Rental car                     0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Lodging                        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Food                           0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Tours/spending money           0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Gifts                          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Subscriptions/dues
  Clubs                          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Magazines                      0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Newspapers                     0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Philanthropy/charitable giving
  Charity 1                      0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Charity 2                      0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Requests from
  friends/sponsorships           0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Clothing/personal care
  Clothes                        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Hair salon/barber              0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Spa services                   0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Dry cleaning                   0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Pets
  Pet grooming                   0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Pet food                       0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Medical/veterinarian           0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Pet insurance                  0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Pet boarding/dog walking       0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Children
  529 account                    0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Day care                       0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  School tuition                 0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Clothing                       0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Medical                        0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Entertainment: toys, games     0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Organization/lesson fees       0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Miscellaneous
  Accountant (tax preparation)   0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Lawyer fees                    0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00
  Alimony/child support          0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

   Total expenses                0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

Remaining cash                   0.00   0.00     0.00    0.00   0.00    0.00   0.00   0.00    0.00   0.00   0.00   0.00

								
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