PERSONAL BUDGET AND SPENDING PLAN* Monthly Wages/Income** Budget Actual Difference Over/(Under) Salary #1 (net take home pay ) Salary #2 (net take home pay) Other income (net of taxes): Dividends Interest Earned Net Rental Income Net Business Income Pension or Retirement Income Total Net Monthly Income 0 0 0 Expenditures Budget Actual Difference Over/(Under) 1. Charitable Giving Tithes - 10% of gross income Sacrificial giving - Higher Ground commitment Other giving 2. Housing: Mortgage/taxes/rent Maintenance/repairs Utilities: Electricity Gas Water Trash collection Telephone/Internet Cable television Other 3. Saving: Emergency fund Replacement (of necessities, appliances, etc.) Long-term savings/Retirement** Vacation savings Other 4. Debt: Credit Card Debt Gas Cards Department Store Credit Cards School Loans Other loans Bank Loans Credit Union loans Loans from family and friends Other 5. Transportation Expenses: Car Payment License fees and inspections Gasoline Parking Maintenance (oil changes, etc.) Carpool fees or bus tokens 6. Insurance: Automobile Homeowners/Rental Insurance Life Insurance** Disability Insurance** Medical, Dental and Optical** Other 7. Household/Personal Expenses: Groceries/Food Cell Phone Clothing and Dry Cleaning Personal Care (haircuts, cosmetics, etc.) Allowance (lunches, coffee, etc.) Enrichment activities (lessons, classes, etc.) Miscellaneous expenses Fitness/Sports Memberships or Fees 8. Entertainment: Meals Movies/Events/Museums Childcare Travel spending Movie and media rentals Hobbies (arts and crafts, fishing, etc.) 9. Professional Services: Child Care Medical/Dental/Optical Prescriptions Legal Counseling Professional Dues and Memberships 10. Miscellaneous: Budget Actual Difference Total Expenditures 0 0 0 Total Actual Net Monthly Income Less Total Actual Expenses 0 *This form was adapted from several sources and is intended as a guide only. If you have questions or need further information, seek professional advice. **Net Wages are Gross Wages less federal, state and local income tax (as applicable), Medicare and Social Security. If amounts for retirement accounts or health, life and disability insurance are also deducted from your paycheck, do not enter amounts in these sections.
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