Create your own Spending Plan
For Month:
INCOME
Salary / Wages (after taxes and deductions) - Job 1 Salary / Wages (after taxes and deductions) - Job 2 Other income
$ $ $
Estimate / Goal
$ $ $
Actual earned
Total Monthly Income
$
0 Estimate / Goal
$
0 Actual spent
MONTHLY EXPENSES
Fixed Expenses
Housing (rent/mortgage) Car loan payments Car Insurance Childcare / Child support Other debt payments (credit cards, loans) Other:
$ $ $ $ $ $ $
$ $ $ $ $ $ $
Flexible Expenses
Groceries Gas
$ $ $ $ $ $ $ $ $ $ $ $ $ $
Telephone (including cell phones) Utilities (electric, gas, water) Household items
Other:
Other spending choices
Clothing Dining out Entertainment Gifts Other:
$ $ $ $ $ $ $ $ $ $ $ $
Total Monthly Expenses
$
0
$
0
THE BOTTOM LINE
Total Monthly Income Total Monthly Expenses Actual Money Remaining
$
0
-
$
0
=
$
0
SAVINGS
Emergency fund Other savings goals:
$ $ $ $
Steps to creating your own spending plan
1. First plan out your spending goals: *Enter your net income (what you take home after taxes and deductions like union dues) and any other income you expect to earn in the "Expected" column *Now enter your fixed expenses, which are necessary expenses that are fairly fixed from month to month, like your rent in the "Spending Goal" column *Next enter your flexible expenses, using figures gathered from a typical month *Now enter what you plan to spend on other kinds of expeneses, like entertainment *Calculate how much you plan to put toward saving this month.
2. Track what you spend during the month and put it in your spending plan categories *At the end of the month calculate the bottom line -- is there anything left over that can be put toward paying down debt or savings?