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It Expense Budget document sample
Document Sample
1st Check $2,083.33 2nd Check $2,083.33 Example:
Taxes / Ins Deductions $427.08 Taxes / Ins Deductions $427.08 $50,000/year Salary
401k $104.17 401k $104.17 Paycheck = 2 x monthly
401k = 5%
Taxes / Ins Deductions = 20.5%
Net Pay $1,552.08 Net Pay $1,552.08 Tithe = 10% Gross
Mortgage = Escrow Taxes
Expense Budget Actual Expense Budget Actual
Tithe (10%) $208.33 Tithe (10%) $208.33
CC - Discover $120.00 Mortgage/Rent $950.00 CC - Debt = high interest debt
CC - Amex $40.00 Car Gas $100.00 Removal of this debt will add
CC - Lowes $16.00 Groceries $200.00 $176 back into the budget
Cell Phone $85.58 Spending $75.00
Car Gas $100.00 Pay for these items with Cash
Auto Insurance $85.00
Car Payment $305.00 Create $1000 emergency fund.
Home Elec/Gas $150.00
Water $20.00
Spending $100.00
Groceries $200.00
TV - Cable, Dish, etc. $40.92
Total $1,470.83 $0.00 Total $1,533.33 $0.00
Net Income: $3,104.16
Budgeted Expense: $3,004.17
Balance: $100.00
$0.00 Actual Expense
$3,104.16 Actual Balance
1st Check (Gross) $3,541.67 2nd Check (Gross) $3,541.67 Example:
Taxes / Ins Deductions $726.04 Taxes / Ins Deductions $726.04 $80,000/year Salary
401k $0.00 401k $0.00 Paycheck = 2 x monthly
401k = Not Offered at Work
Taxes / Ins Deductions = 20.5%
Tithe = 10% Gross
Net Pay $2,815.63 Net Pay $2,815.63 Mortgage = Escrow Taxes
Expense Budget Actual Expense Budget Actual
Tithe (10%) $354.17 Tithe (10%) $354.17 CC - Debt = high interest debt
Savings $350.00 CC - Lowes $16.00 Removal of this debt will add
CC - Discover $160.00 Mortgage/Rent $1,855.00 $441 back into the budget
CC - Visa $135.00 Car Gas $150.00
CC - Amex $65.00 Groceries $300.00 Cash Items
School Loans $65.00 Spending $125.00
TV - Cable, Dish, etc. $40.92 Create $1000 emergency fund.
Car Gas $150.00
Auto Insurance $192.00
Car Payment #1 $349.00
Home Elec/Gas $300.00
Cell Phone $85.00
Water $60.00
Spending $125.00
Groceries $300.00
Total $2,731.09 $0.00 Total $2,800.17 $0.00
Net Income: $5,631.26
Budgeted Expense: $5,531.25
Balance: $100.00
$0.00 Actual Expense
$5,631.26 Actual Balance
Min Monthly School
CC - Lowes CC - Amex CC - Visa CC - Discover
Debt Total Due Payment Loans
CC - Discover $ 4,400.00 $ 160.00 $ 160.00 $ 160.00 $ 160.00 $ 160.00 $ 541.00
CC - Visa $ 1,600.00 $ 135.00 $ 135.00 $ 135.00 $ 135.00 $ 381.00 $ -
CC - Amex $ 1,350.00 $ 65.00 $ 65.00 $ 65.00 $ 246.00 $ - $ -
School Loans $ 900.00 $ 65.00 $ 65.00 $ 181.00 $ - $ - $ -
CC - Lowes $ 325.00 $ 16.00 $ 116.00 $ - $ - $ - $ -
Total $ 8,575.00 $ 441.00 $ 541.00 $ 541.00 $ 541.00 $ 541.00 $ 541.00
$ 100.00 Months to $0 Balance 3 4 4 3 7 21
Balance from prior page Total Months
Pay towards Debt Months to $0 balance are conservative estimates ???
Considerations/Assumptions missing:
Tax Returns Refunds?
Salary Changes: Raises, Promotions, etc.
Christmas, Birthday and other 1 time expenses (can "Spending Money" cover these expenses? use 401K? Use Savings, etc?
Paid bi-weekly (26 checks) vs. 1st/15th (24 checks). What do I do with the extra 2 paychecks?
Others ????????
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