How to Create a Home Budget

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					  Monthly Home Budget
October 3, 2008
Summary
Totals                    Actual    Budgeted    Over/Under    This worksheet can help you create and maintain a
Income                   3,750.00    3,750.00    at budget    monthly home budget. Enter values into the yellow
Expenses                 3,267.45    3,071.88   195.57 over   boxes. Results will be shown in the green boxes. You
Income less Expenses      482.55      678.12    195.57 over   may also enter notes in the gray boxes.

Income
Income Source             Actual    Budgeted    Over/Under                          Notes
  Salary 1               3,750.00    3,750.00    at budget
  Salary 2                                       at budget
  Investment                                     at budget
  Stocks and bonds                               at budget
  Other                                          at budget
Total income             3,750.00   3,750.00     at budget

Expenses
Withholdings             Actual     Budgeted    Over/Under                          Notes
 Federal income tax      105.00      105.00      at budget
 State income tax         0.00         0.00      at budget
 FICA                    286.88      286.88      at budget
 Medical                 100.00      100.00      at budget
 Dental                  125.00       50.00     75.00 over
 Other                                           at budget
Total withholdings       616.88      541.88     75.00 over
Percent of expenses      18.88%      17.64%

Finance Payments         Actual     Budgeted    Over/Under                          Notes
  Credit card 1          77.50        50.00     27.50 over
  Credit card 2                                  at budget
  Credit card 3                                  at budget
  Credit card 4                                  at budget
  Student loan                                   at budget
  Auto loan               275.00     275.00      at budget
  Home mortgage          1,240.00   1,240.00     at budget
  Personal loan                                  at budget
Total finance payments   1,592.50   1,565.00    27.50 over
Percent of expenses      48.74%     50.95%
Fixed Expenses                       Actual           Budgeted          Over/Under                               Notes
  Property taxes                     65.00              65.00             at budget
  Other taxes                                                             at budget
  Charitable donations                                                    at budget
  Auto insurance                     125.00            125.00             at budget
  Home insurance                     125.00            100.00            25.00 over
  Life insurance                      25.00             25.00             at budget
  Medical insurance                                                       at budget
  Cable TV                           50.00              25.00            25.00 over
  Telephone                          66.98              50.00            16.98 over
  Utilities                         125.10             150.00           24.90 under
Total fixed expenses                582.08             540.00           42.08 over
Percent of expenses                 17.81%             17.58%

Variable Expenses                    Actual           Budgeted          Over/Under                               Notes
  Household                           15.00             50.00           35.00 under
  Groceries                          225.00            200.00            25.00 over
  Auto upkeep and gas                 68.25             50.00            18.25 over
  Other travel expenses                                                   at budget
  Furniture                                                               at budget
  Clothing                            0.00              50.00           50.00 under
  School                                                                  at budget
  Medical/prescriptions                                                   at budget
  Entertainment                      112.50             75.00            37.50 over
  Memberships                                                             at budget
  Dining out                         55.24               0.00            55.24 over
  Gifts                                                                   at budget
  Vacation                                                                at budget
  Pet care                                                                at budget
  Other                                                                   at budget
Total variable expenses             475.99             425.00           50.99 over
Percent of expenses                 14.57%             13.84%

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posted:10/4/2008
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Description: This is example on how to create a home budget. This document is useful for creating home budget.