Money Matters - Budget Worksheet

Budget worksheet

Use this budget worksheet to record all your expenses and income. We've provided several examples, but you should change the items and numbers to reflect your own situation.

Expenses

HOUSING EXPENSES - per month
Rent:
Utilities:		(heat, water, electricity, etc.)
Telecommunications:		(home phone, cell phone, pager, Internet access, etc.)
Other:		(furniture, maintenance, trash removal, etc.)

TRANSPORTATION EXPENSES - per month
Car:		(payment, insurance, gas)
Repairs:		(include regular maintenance costs like oil changes and inspections)
Travel:		(taxi, parking, bus, airfare)

FOOD EXPENSES
Per month:		(groceries, snacks, etc.)

PERSONAL EXPENSES - per month
Clothing/Laundry:		(purchases, dry cleaning, etc.)
Hair Care:		(haircuts, etc.)
Health:		(prescriptions, insurance, physician and dental bills, health club membership, etc.)

ENTERTAINMENT EXPENSES - per month
Movies:		(include tickets, popcorn, video rentals)
Eating Out:
Subscriptions:		(magazines, newspapers)
Other:		(parties, CDs, hobbies, etc.)

FAMILY NEEDS
Per month:		(gifts, pet supplies, etc.)

SAVINGS
Per month:		(monthly deposits)

CREDIT/CHARGE CARD PAYMENTS
Per month:		(include MasterCard, Visa, American Express, Discover, store cards, gas cards, etc.)

OTHER EXPENSES
Per month:

Income

INCOME FROM JOB

Per month:

INCOME FROM SAVINGS

Per month:

VIEW RESULTS SUMMARIZED BY MONTH:

Remember that some expenses occur on an irregular basis; money should be set aside on a weekly or monthly basis to meet them. The accuracy of this worksheet and its applicability to your circumstances are not guaranteed. You should obtain personal advice from qualified professionals.

Budget Worksheet Results

Income (per month)

Expenses (per month)

Income from Job:
Income from Savings/Allowance:

TOTAL INCOME:

Housing:
Transportation:
Food:
Personal:
Entertainment:
Family Needs:
Savings:
Credit/Charge Card Payments:
Other:

TOTAL EXPENSES:

Total Income	—	Total Expenses	=	Cash Flow
	—		=

Edit budget worksheet

How well did you do?

If your results are negative (expenses higher than income)
It's time to get your budget in shape. Take a careful look at your expenses, and see where you can cut back. You may have to forgo luxuries like entertainment, eating out, and new clothes until your expenses are more in line with your income. See how small changes in variable expenses can change your cash flow. Consider where you can reduce your expenses, and re-enter those amounts in the budget worksheet. (Use the back button on your browser to return to the worksheet.)

If your results are positive (income higher than expenses)
Congratulations! You're obviously managing your money well. Now may be a good time to think about increasing your savings or to plan for future major purchases. Click here for a listing of selected saving and investment advisors.

A final thought about budgets

This interactive budget worksheet allows you to see how much you can adjust your budget through small changes in your lifestyle. Unfortunately, many people don't realize the long-term implications of their spending habits. Although it's very tempting to run to the store for new jeans, ask yourself if you really need those new jeans.

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