Managing Money & Love Managing Money & Love Page 3
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4Monthly Spending Plan
GROSS INCOME
$
Minus taxes and other deductions
NET INCOME
$
The
first step
in
making a spending
ESTIMATED EXPENSES
plan is to
figure
your income
and
Housing
estimate your
expenses. If you
Food at home
keep a written record
of what you actually
Food away from home
spend for a month or
two, your estimated
Clothing
expenses will be
more realistic.
Clothing care
Life insurance*
Car payment(s)
Use the form to the
left to record income
Gasoline
and expenses.
Finally, subtract your
Utilities (gas, water, electricity)
total expenses from
your net income. If
Cable TV
the result is negative,
look for ways to cut
Telephone
back.Your goal is
to
balance
your
Home furnishings/appliances
income with your
expenses.
Credit card payments
Other loans
Personal care
Health care (doctor, dentist, medicine)
Household supplies
Recreation
Emergency fund/savings
Savings for non-monthly expenses (see next page)
Miscellaneous (pets, hobbies, club dues, subscriptions)
TOTAL EXPENSES
$
DIFFERENCE BETWEEN INCOME AND EXPENSES
$
*Do not include if payroll deducted.
For an EXCEL spreadsheet template to design your spending plan, visit our web site at
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Parent category: Financial