Family Living Account Book - Washington State University

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Family Living Account Book - Washington State University

Family Living

Account Book

WASHINGTON STATE UNIVERSITY EXTENSION • EB0544


WHY KEEP AN ACCOUNT BOOK?

To help the family know where its money

goes and how it is used

To evaluate spending habits

To show how living costs change due to

prices or change in size and age of family

To use as a guide in planning future spending

To help children learn about the use of money

To use in filing income tax returns

FAMILY LIVING ACCOUNT BOOK

First, a few suggestions on how to keep records so they'll really be helpful—and not too much work:

Record expenditures regularly. Develop a system for handling the details of keeping records,

paying bills, and setting aside money for future expenses. Try to get a report of spending

when the family is together. If money management is discussed when all family members can

participate, decisions can be a family affair.

Decide on a place to keep your account book, incoming bills, receipts, cancelled checks, bank

statements, check book, and savings account book.

Keep track of all tax-deductible items. Circle deductible items in the account book.

Make extra columns if necessary. If a column is filled, cut a piece of paper the same width as the

column and tape it over the filled column.

Label every item you record. This lets you refer back to your records and find out exactly what

you bought. Instead of entering "clothing," put "coat," "shoes," etc.

Summarize the columns monthly. Compare spending with your plan to see if changes are needed.


JANUARY

INCOME—all wages and

income before deductions.

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

2 Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1 Person #2

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1 Person #2

Person #1

Person #3

Person #3

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

3


4

FEBRUARY

INCOME—all wages and

income before deductions.

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1 Person #2

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1 Person #2

Person #1

Person #2

Person #3

Person #3

Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

5


6

MARCH

INCOME—all wages and

income before deductions.

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

CHILDCARE—day care, babysitting

expenses.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #1

Person #2

Person #3

Person #2 Person #3

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Amount

Item Amount

7


8

APRIL

INCOME—all wages and

income before deductions.

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away

Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item Person #1 Person #2 Person #3

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #1

Person #2 Person #3

Person #2

Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Amount

Item Amount

9


MAY

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

10

INCOME—all wages and

income before deductions.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #1

Person #1

Person #2

Person #2

Person #3

Person #3

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

Amount

11


12

JUNE

INCOME—all wages and

income before deductions.

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

CHILDCARE—day care, babysitting

expenses.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

Person #1

Person #2

Person #3

Person #2 Person #3

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item Person #1 Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Amount

Amount

Item Amount

13


JULY

INCOME—all wages and

income before deductions.

Total

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount

Item Car 1 Car 2 Item

Amount Item Amount

Total Total Total Total

14

Source Amount

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #1

Person #1

Person #2

Person #3

Person #2 Person #3

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Item Amount

15


AUGUST

INCOME—all wages and

income before deductions.

Total

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

Item Amount

Item Amount Item

Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

16

Source

Amount

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #2

Person #1 Person #2

Person #2

Person #3

Person #3

Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item Amount

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Amount

Item Amount

17


SEPTEMBER

Total

Total

INCOME—all wages and

income before deductions.

Source Amount

PROTECTION—life insurance,

retirement plan, etc.

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

Total

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

CHILDCARE—day care, babysitting

expenses.

Item Amount Item

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

18

SAVINGS & INVESTMENTS

(include mortgage principal).

Item Amount

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.

Amount


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

GIFTS—gifts for persons outside family,

money to relatives.

Item Person #1 Person #2 Person #3

Item

Amount

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1 Person #2 Person #3

Person #1

Person #2

Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

Total

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

19


OCTOBER

INCOME—all wages and

income before deductions.

Total

Total

Source Amount

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

Item Amount Item Amount Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

20

SAVINGS & INVESTMENTS

(include mortgage principal).

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

Person #1 Person #2 Person #3

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item Person #1 Person #2 Person #3

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

Amount

21


NOVEMBER

INCOME—all wages and

income before deductions.

Total

Total

Source Amount

SAVINGS & INVESTMENTS

(include mortgage principal).

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

Item Amount

Item Amount

PROTECTION—life insurance,

retirement plan, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount Item Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

22

CHILDCARE—day care, babysitting

expenses.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.

Item

Amount


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item Person #1 Person #2 Person #3

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item

Person #1

Person #1

Person #2

Person #3

Person #2 Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

Item

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Item

OTHER—union dues, income tax,

legal fees, etc.

Total

Item

Amount

Amount

Amount

23


DECEMBER

INCOME—all wages and

income before deductions.

Total

SAVINGS & INVESTMENTS

(include mortgage principal).

Total

Source Amount

HOUSEHOLD OPERATION—

cleaning supplies, help, etc.

Item Home Away Item Amount Item Amount

Total Total

CHILDCARE—day care, babysitting

expenses.

Item Amount

Item Amount Item

PROTECTION—life insurance,

retirement plan, etc.

FOOD—food bought, meals purchased

away from home, snacks, candy, etc.

Total

AUTO & TRANSPORTATION—car purchase,

operation, insurance, bus, etc.

HOUSING & UTILITIES—

rent, insurance, taxes, etc.

Total Total

EDUCATION—newspapers,

books, school expenses, etc.

FURNISHINGS, EQUIPMENT

—appliances, linens, etc.

RECREATION—sports,

hobbies, clubs, pets, TV, etc.

Item Amount

Item

Car 1 Car 2 Item Amount Item Amount

Total Total Total Total

24

Suggestion: Circle dollar amounts that are tax deductible, preferably with a colored pen or pencil.

Amount


Total

Total

Total

CLOTHING—ready-made clothing, patterns, yardage, sewing supplies, shoes, shoe repair,

cleaning, jewelry, jewelry repair, etc. (Enter name of each person)

Item

PERSONAL—allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes,

baby supplies, etc. (Enter name of each person)

Item

Person #1 Person #2

Person #1

HEALTH—doctor, dentist, hospital care, nurses, treatments, medicine, glasses, first aid supplies,

health and accident insurance, etc. (Enter name of each person)

Item Person #1

Person #2

Person #2

Person #3

Person #3

Person #3

Total Monthly Income =

Total Monthly Expenses =

(add totals in each category to get this figure)

Balance (or Deficit) Forward =

(subtract)

GIFTS—gifts for persons outside family,

money to relatives.

Total

CONTRIBUTIONS—cash donations

to fund drives, churches, etc.

Total

Total

Item

Item

Item

Amount

Amount

OTHER—union dues, income tax,

legal fees, etc.

Amount

25


SUMMARY OF

MONTHLY

EXPENDITURES

AND INCOME

REMINDER OF PERIODIC

PAYMENTS DUE

Taxes, insurance,

membership dues, pledges,

auto licensing

PAYMENTS ON

INSTALLMENT

CONTRACTS AND

LOANS

Also record under

monthly expenditures

26

Item January February March April

Savings and Investments

Protection

Food

Auto and Transportation

Housing and Utilities

Household Operation

Child Care

Furnishings and Equipment

Education

Recreation

Clothing

Personal

Health

Gifts

Contributions

Other

TOTAL EXPENDITURES

TOTAL INCOME

Item

January February March April

Item January February March April


May June July August September October November December TOTAL AMOUNT

BALANCE FORWARD (total income minus total expenditures) =

May June July August September October November December TOTAL AMOUNT

May June July August September October November December TOTAL AMOUNT

27


FINANCIAL STATEMENT

Cash

Checking account

Savings account

Cash surrender value life insurance

Stocks and bonds

Accounts receivable

Household furnishings and equipment

Machinery and tools

Automobile

Real estate

Total assets

Total liabilities

Assets

Individual Retirement Accounts (IRAs)

TOTAL ASSETS

Net worth (total minus total liabilities)

Beginning

of Year

Item

CHANGE IN NET WORTH (beginning of year minus end of year)

28

Mutual funds

End of

Year

Current bills

Installment debt

Bank loans

Liabilities

Mortgages on real estate

TOTAL LIABILITIES

Beginning

of Year

Beginning

of Year

End of

Year

End of

Year


SUGGESTIONS FOR CLASSIFYING MONTHLY ENTRIES

Income. Salary and wages (enter total amount, record deductions under proper headings), interest on

investments, income from sales and rentals. If meals and lodgings are reimbursed by an expense account,

do not include those expenses or income.

Savings and investments. Principal on mortgage, capital improvement on property, bank savings, savings

and loan accounts, stocks and bonds, mutual funds, IRAs.

Protection. Social security deductions, retirement plan deductions, life insurance—term, ordinary, limited,

endowment, annuity.

Food. All food purchased. (The amount for food will be more accurate if non-food items on the supermarket

bill are separated from food items.) Meals and food eaten away from home. Include meals and groceries

purchased while on vacation.

Auto and other transportation. Gas, oil, repairs, insurance, licenses, batteries, accessories. Cost of new

car or installment payments. Bus, train, and plane fares. Parking fees, fines. Gas for vacation.

Housing and utilities. Rent, interest on mortgage, house repair and maintenance (painting, repairs,

building supplies), substantial landscaping or yard improvement. Real estate taxes. Fire insurance, liability

insurance. Telephone, electricity, gas, fuel, water, sewer, garbage.

Household operations. Supplies that are used up fairly quickly—cleaning and laundry supplies, paper

products, stationary, stamps, light bulbs, canning and freezing supplies. Locker rent. Laundromat. Bank

charges, safe deposit box. Household help. Seeds, plants, shrubs, fertilizer, weed killer, and other yard

and garden items.

Furnishings and equipment. Furniture, appliances, linens, bedding, dishes, glassware, kitchen equipment,

tools, hardware, furnishing and equipment repair.

Child care. Day-care expenses, payments to babysitters, preschool fees, summer camp programs,

before-or after-school program fees.

Education School supplies, books, tuition, room and board. Music lessons and instruments, art lessons

and supplies, music and art lectures. Newspapers, magazines, books. Dues to educational organizations.

Recreation. Movies, plays, concerts, fairs, sports events, exhibits, auto and fashion shows, museums.

Hunting and fishing licenses, bowling fees, golf fees, ice and roller skating, amusement rides, dancing.

Camping equipment, trailer expenses, boats, sports equipment. Games, toys, play equipment. Photography.

Pet expenses. Dues to social or recreational clubs. Vacation expenses, motels and hotels. TV, radio,

stereo, and CD/tape player purchase and repair.

Clothing. Ready-made garments, footwear, dressmaking and tailoring bills, yarn goods, patterns, thread.

Accessories, jewelry and jewelry repair. Cleaning, shoe repair.

Personal. Allowances, barber and beauty shop, shaving supplies, cosmetics, cigarettes, pipes, baby

supplies.

Health. Health and accident insurance, fees for doctor, dentist, nurses. Hospital bills, treatments, medicine,

glasses, first aid supplies, non-prescription drugs.

Gifts. Gifts for persons outside family. (Record gifts within the family under proper headings.) Money to

relatives.

Contributions. Fund drives, contributions to religious, educational, and other organizations.

Other. Income tax deductions or payments, union dues, dues to educational organizations if required for

job, funeral expenses, legal fees.


WSU Extension bulletins contain material written and produced for public distribution. Alternate formats of our

educational materials are available upon request for persons with disabilities. Please contact Washington State

University Extension Communications and Educational Support for more information.

You may order copies of this and other publications from WSU Extension Publishing and Printing at

1-800-723-1763 or http://pubs.wsu.edu.

Issued by Washington State University Extension and the U.S. Department of Agriculture in furtherance of the Acts of

May 8 and June 30, 1914. Extension programs and policies are consistent with federal and state laws and regulations

on nondiscrimination regarding race, sex, religion, age, color, creed, and national or ethnic origin; physical, mental,

or sensory disability; marital status or sexual orientation; and status as a Vietnam-era or disabled veteran. Evidence

of noncompliance may be reported through your local WSU Extension office. Trade names have been used to simplify

information; no endorsement is intended. Reprinted January 2009.

Subject code 640. B. EB0544

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