Your Budget Worksheet Estimate

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Your Budget Worksheet Estimate Powered By Docstoc
					Your budget worksheet
Welcome to the budget worksheet. This tool can help you prepare for the biweekly payroll cycle and decide how
you're going to arrange your household expenses for 2010. Just follow the steps below.



  Step 1: Your Benefits costs for 2010
  You'll need to know your biweekly benefits costs for 2010 to complete Step 2. You should complete your benefits
  enrollment before using this budget worksheet.

  Step 2: Your biweekly pay
  Use the two paycheck calculator tools to determine your biweekly gross and estimated net pay.
  To determine your new biweekly gross salary:
  1 Go to the biweekly paycheck calculator on the Wachovia Biweekly Payroll Conversion page.
  2 If you are paid hourly and record time worked in My Time, select “Non-Exempt.”
       If you are paid an annual salary, select “Exempt.”
  3 Enter your current gross annual salary.
  4 If you are non-exempt, also enter your weekly standard hours.
  5 Click Calculate to see your estimated new gross biweekly pay.
  If you would like to estimate how this change in gross pay may impact your take-home (net) pay:
  1 Go to the paycheck calculator at http://www.paycheckcity.com/cowf/netpaycalculator.asp.
  2 At the top, select your state.
  3 Enter your current gross annual salary.
  4 Select the Biweekly pay frequency option.
  5 Select your federal, state, and local tax information.
  6 Enter all of your voluntary 2010 benefit deductions from Step 1 above, plus any other deductions you have
       taken from your Wells Fargo pay.
  7 Click Calculate to see your estimated net biweekly pay.

  Step 3: Payroll advance
Are you planning to take advantage of the one-time payroll advance option in January 2010 and pay it back in
installments throughout 2010? If so, you can visit the payroll advance tool to calculate your payback amount for
each payday in 2010. (If you're not sure you want to request an advance, you can just click Cancel after the first
page.) Find the payroll advance tool by entering "payroll advance tool" in the Teamworks search engine.
Note: You may also account for your payroll advance payback amount in Step 2 above by entering it under Other Pre-tax Deductions
in the paycheck calculator. This will give you a more accurate estimate of tax withholding.


Step 4: Your household budget
Now it's time to budget. Fill out the chart below using the information from Steps 1 – 3 above, plus your
knowledge of what you spend each month. Try to be as realistic as possible. Enter your expenses, including due
dates. If a certain expense doesn't apply to you, just leave that line blank. Here are some things to consider as
you prepare for the biweekly pay schedule:
    Because each biweekly paycheck is slightly smaller than you’re used to receiving, be sure you have
       enough set aside to pay regular monthly bills from January to March, before the first three-payday month
       in April.
    If you have bill pay or other automatic deductions set up for specific days, review them to see if the dates
       still work with the new pay schedule. If they don't, change them to a day of the month when you'll be best
       equipped to cover the deduction amounts.
    Check with your landlord, mortgage company, or other creditors to see if they offer a biweekly payment
       option.
    If you decide to change due dates for any of your automatic payments, note that many companies require
       30 days’ notice.
Your budget worksheet estimate
Enter your household income and expenses in all of the applicable yellow-shaded cells below.



       Enter income
                                                                               Your Forms of Income                    Your Total Income
                                                                                                                     Monthly       Biweekly
                                                                              Monthly       or    Biweekly            Total          Total
                       Wells Fargo biweekly take-home pay after
                taxes and deductions (use Paycheck Calculator)                                                              0.00             0.00

    Optional payroll advance payback amount* deducted each
                           payday (use Payroll Advance tool)                                                                0.00             0.00
             Spouse/partner or other employer take-home pay                                 or                              0.00             0.00
                  Monthly or regular bonus/commission after
                                       taxes and deductions                                 or                              0.00             0.00
                                                Child support                               or                              0.00             0.00
                                                      Alimony                               or                              0.00             0.00
                                           Interest/dividends                               or                              0.00             0.00
                                   Social Security or pension                               or                              0.00             0.00
                                                Other income                                or                              0.00             0.00
                                                                                                                            0.00             0.00
  *Enter the payroll advance payback amount here or in the paycheck calculator when doing the biweekly pay calculation -- not both places.



  Enter expenses
                                                                            Enter Your
                                                                             Monthly              Due Date
                                                                            Expenses

  Fixed Expenses
  Housing
    Rent or mortgage
    Association dues
    Property taxes
    Other
  Transportation
   Auto payment
   Other
Insurance (if not paid as part of some other
payment)
   Auto insurance
   Medical insurance (other than payroll deduction)
  Homeowners insurance (other than included with mortgage
 payment)
   Other
Debt payments
   Credit cards
   Other
Child care and education
   Daycare
   Tuition
   Other
Other fixed expenses
   Medications
   Other
TOTAL FIXED EXPENSES                                        0.00

Variable expenses
Food
  Groceries
  Dining out
  Other
Utilities
  Gas and electric
  Garbage
  Water or city services
  Phone
  Cell phone
  Cable
  Internet service provider
  Other
Automotive
  Gas
  Tolls and parking
  Vehicle maintenance
  Public transportation
  Other
Other variable expenses
  Dry cleaning
  Toiletries
  Other
TOTAL VARIABLE EXPENSES                              0.00

Discretionary expenses
Entertainment
  Movies
  Memberships
  Events
  Other
Gifts
  Birthdays
  Holidays
  Other
Personal
  Clothing
  Other
Subscriptions
  Newspapers
  Magazines
  Other
Recreation
  Gym memberships
  Sports
  Other
Other discretionary expenses
  Charity
  Personal savings
  Other
TOTAL DISCRETIONARY EXPENSES                         0.00


YOUR TOTAL EXPENSES                                  0.00


 Total amount available to you after expenses        0.00
                                                 on a
                                                monthly
                                                 basis

				
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