My Household Budget Worksheet by delrey

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									My Household Budget Worksheet
Before you can create an honest and useful budget for your household, you must first have a solid understanding of
your personal “cash flow”—the amount of money coming in (income) and the amount going out (expenses).

If you have been taking part in the Manage Your Money, Manage Your Life program over the past few months, you may
already be tracking your monthly expenses based on our April installment. This is an important first step in creating a
budget. If you haven’t seen the April feature, or haven’t been tracking, you can find all the information and worksheets
you need at http://www.realsimplerewards.com/rsn/Discovercard/explore-0804.html

CREATING YOUR BUDGET
Once you’ve recorded 2-3 months of expenditures, you are ready to create your budget. Here’s how it works:
• Enter your monthly household income in the top portion of the worksheet below.
• Moving on to the bottom portion of the worksheet, use your spending track record to estimate monthly expenses in
  each category. Enter the numbers in the “Budgeted Amount” column.
• Make sure that the “Budgeted Total” does not exceed the “Income Total.” If it does, you will need to re-think and
  adjust your budget accordingly.

MAINTAINING YOUR BUDGET
The worksheet below also includes space to monitor your progress. A few key points to remember:
• Have a system for tracking daily expenses, whether it’s keeping a receipt pouch, recording purchases in a small
  notebook or using a credit card instead of cash.
• Have a set date to review your receipts and statements against your budget.
• Use the “Actual Amount” column to compare the month’s actual spending against your budget.
• If your “Actual Amount” consistently exceeds your “Budgeted Amount,” you will need to re-think and adjust your
  budget accordingly.


To use this interactive tool, simply type your personal information into the grey fields below. Your totals will be
calculated automatically. Save it to your computer and update as needed. You can also print a copy at any time for
your records.

 MONTHLY INCOME
 Wages (gross)*
 Other (interest, stock dividends)
                                                             INCOME TOTAL:        $0.00
* Use your pay stub to determine how much is being taken out for taxes, medical expenses and retirement per month
  and record those numbers in the appropriate “Expense” category.


 MONTHLY EXPENSE
 CATEGORY                       EXPENSE                      BUDGETED AMOUNT               ACTUAL AMOUNT
 Home                           Mortgage/Rent
                                Homeowner/Rental
                                Insurance
                                Property Taxes
                                Electricity
                                Gas
                                Water
                                Telephone
                                Cable
MONTHLY EXPENSE
CATEGORY          EXPENSE                  BUDGETED AMOUNT   ACTUAL AMOUNT
Home              Internet
                  Garbage
                  OTHER:
                  OTHER:
                  OTHER
Food              Groceries
                  Takeout/Delivery
                  Meals Out or On-the-Go
                  OTHER:
Transportation    Car Payment
                  Car Insurance
                  Gas
                  Commuter Pass
                  Parking
                  Other:
Entertainment     Movie Tickets/Rentals
                  Event Tickets/Fees
                  Club/Gym Membership
                  Fees
                  Books/Magazines
                  Vacation
                  Cell Phone
                  OTHER:
                  OTHER:
Health Care       Medical Insurance
                  Dental Insurance
                  Vision Insurance
                  Copays
                  Prescriptions
                  OTHER:
                  OTHER:
Child Care        Day Care
                  Babysitting
                  OTHER:
                  OTHER:
Pet Care          Food
                  Vet
                  OTHER:
                  OTHER:
MONTHLY EXPENSE
CATEGORY          EXPENSE                    BUDGETED AMOUNT   ACTUAL AMOUNT
Debts             Student Loans
                  Credit Card Bill:
                  Credit Card Bill:
                  OTHER:
                  OTHER:
Investments       Retirement Savings
                  Personal Savings
                  College Savings
                  OTHER:
                  OTHER:
Misc.             ATM/Bank Withdrawals
                  Gifts
                  Donations
                  Personal Services (Hair,
                  Nails)
                  Clothing
                                             BUDGETED          ACTUAL
                                             TOTAL: $0.00      TOTAL: $0.00

								
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