MONTHLY EXPENSES

HousingLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Rent or Mortgage

Rent or Mortgage 2 (second home or home equity loan)

Maintenance

Renter’s or Homeowners Insurance

Homeowners Association or Other Fees

Other:

Other:

Subtotal

Worksheet: Spending plan

A spending plan is a “living document,” which means it will change over time as your priorities change. Don’t get discouraged if you go over budget in a few categories some months. That’s okay. You may be under budget in others. Make the necessary adjustments and keep trying. Soon your spending plan will be more on target and easier to create.

To get started, add up your actual expenses and income from the previous month. Next, subtract your expense total from your total monthly income. Then set this month’s spending targets. Subtract this month’s spending targets from last month’s actuals to see how much less (or more) you would spend in each category.

Keep this worksheet and refer to it throughout the month as you track your spending. At the end of the month, enter how much each expense actually cost and compare those figures to your spending targets.

MONTHLY EXPENSES (continued)

UtilitiesLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Electricity

Gas

Water

Trash Service

Telephone

Cell Phone

Cable or Satellite TV

Internet Service

Other:

Other:

Subtotal

Worksheet: Spending plan

MONTHLY EXPENSES (continued)

TransportationLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Car payment 1

Car payment 2

Auto Insurance

Fuel

Maintenance

Parking

Other:

Other:

Subtotal

FoodLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Groceries

Eating Out

Other:

Other:

Subtotal

Worksheet: Spending plan

MONTHLY EXPENSES (continued)

ClothingLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Adult

Children

Dry Cleaning/Laundry

Other Payment:

Other Payment:

Subtotal

HealthLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Medications

Contacts and Supplies

Gym Memberships

Other:

Other:

Subtotal

Worksheet: Spending plan

MONTHLY EXPENSES (continued)

PersonalLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Alimony/Child Support

Education

Child Care

Life Insurance (not paid through payroll deduction)

Charitable Contributions

Barber/Beauty Shop

Vacations

Recreational/Hobbies

Alcohol/Tobacco

Entertainment

Video/Game Rental

Music/App Downloads

Subscriptions

Pet Food/Supplies/Other

Other:

Other:

Subtotal

Worksheet: Spending plan

MONTHLY EXPENSES (continued)

Personal DebtLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Credit Card Payment

Credit Card Payment

Credit Card Payment

Loan Payment

Loan Payment

Loan Payment

Other Payment:

Other Payment:

Subtotal

Add up each of your subtotals and enter them in the space below

Last Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Total Monthly expenses

Worksheet: Spending plan

Worksheet: Spending plan

MONTHLY INCOME

Last Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Net Monthly Salary (Take-Home Pay) - Self

Net Monthly Salary - Spouse

Part-Time Job

Tips or bonuses

Military Retirement Pay

Child Support

Social Security Payment

AFDC

Food Stamps

Other:

Other:

Total Monthly income

TOTAL ACTUAL MONTHLY INCOME

– TOTAL ACTUAL MONTHLY EXPENSES –

= Money you can SAVE or PAY DOWN DEBTS!

If you have a negative number look back at your expenses and see where you can spend less. Enter your new spending targets and the amount saved in the appropriate columns. For example, say you want to trim your eating out expense from $350 to $250, enter $250 in “This Month’s Spending Target” column and $100 in the “Estimated Difference” column.

If you have a positive number, consider adding it to your savings or paying down high-interest debts. You may still want to review your expenses and look for possible cuts to help you pay down your debt or reach your savings goals faster.

Worksheet: Spending plan

HOW MUCH CAN YOU SAVE?

SavingsLast Month’s Actual $

This Month’s Spending Target

EstimatedDifference

This Month’s Actual $

ActualDifference

Emergency Savings

TSP

401(k)/403(b)

Individual Retirement Accounts

College Savings

Personal Savings

Investments

Other:

Total

Small Change = Big SavingsSee how much the few changes in your budget will affect your savings over time. If you reduced your spending in a number of categories, add up the “Estimated Difference” column and multiply that number by 12. This is how much more money you could save over a year if you stuck to your spending targets.

Estimated Difference Total $_______________

X 12

Total Savings $_______________