Monthly Spending Plan Worksheet

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Spending Plan Worksheet
Instructions:
1.Calculate monthly net income in box 1
2.Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of
periodic expenses (2c)
3.Compare income and expenses and make adjustments
3. Compare income & expenses
1. Monthly net income
Net* monthly income
$_____
Net* monthly wages
$_____
Net monthly wages of others in home $_____
Estimated expenses:
Public assistance/food stamps
$_____
Fixed.....................$_____
Unemployment/disablility
$_____
Controllable...........$_____
Child support/alimony
$_____
Periodic.................$_____
Social Security/retirement
$_____
(monthly portion)
Other
$_____
minus
$_____
Other
$_____
Total monthly net income
$_____
Balance
$_____
* After tax withholding and other deductions
2c. Periodic expenses
These are expenses that come up once or twice a year. Fill in the estimated costs under the month
they are due. Taxes, insurance premiums, auto servicing, tires, license, birthdays and holidays,
educational costs, vacations, etc. Do not include taxes withheld from your paycheck, but do include
estimated tax payments you make to the IRS. Add your total yearly periodic expenses and divide by
12 to determine the monthly portion.
Jan
July
Feb
Aug
Mar
Sept
Apr
Oct
May
Nov
June
Dec
Subtotal
$
Subtotal
$
Total Periodic Expenses = Monthly portion periodic expenses
12
Reproduced with the permission of Michigan State University Cooperative Extension

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