Worksheet: - SaveAndInvest.org
Worksheet: - SaveAndInvest.org
Worksheet: - SaveAndInvest.org
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<strong>Worksheet</strong>:<br />
Spending Plan<br />
A spending plan is a “living document,” which means it will change over time as your priorities change. Don’t<br />
get discouraged if you go over budget in a few categories some months. That’s okay. You may be under budget<br />
in others. Make the necessary adjustments and keep trying. Soon your spending plan will be more on target<br />
and easier to create.<br />
To get started, add up your actual expenses and income from the previous month. Next, subtract your expense<br />
total from your total monthly income. Then set this month’s spending targets. Subtract this month’s spending<br />
targets from last month’s actuals to see how much less (or more) you would spend in each category.<br />
Keep this worksheet and refer to it throughout the month as you track your spending. At the end of the month,<br />
enter how much each expense actually cost and compare those figures to your spending targets.<br />
MONTHLY EXPENSES<br />
Housing<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Rent or Mortgage<br />
Rent or Mortgage 2<br />
(second home or home<br />
equity loan)<br />
Maintenance<br />
Renter’s or Homeowners<br />
Insurance<br />
Homeowners Association<br />
or Other Fees<br />
Other:<br />
Other:<br />
Subtotal
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY EXPENSES (continued)<br />
Utilities<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Electricity<br />
Gas<br />
Water<br />
Trash Service<br />
Telephone<br />
Cell Phone<br />
Cable or Satellite TV<br />
Internet Service<br />
Other:<br />
Other:<br />
Subtotal
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY EXPENSES (continued)<br />
Transportation<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Car payment 1<br />
Car payment 2<br />
Auto Insurance<br />
Fuel<br />
Maintenance<br />
Parking<br />
Other:<br />
Other:<br />
Subtotal<br />
Food<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Groceries<br />
Eating Out<br />
Other:<br />
Other:<br />
Subtotal
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY EXPENSES (continued)<br />
Clothing<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Adult<br />
Children<br />
Dry Cleaning/Laundry<br />
Other Payment:<br />
Other Payment:<br />
Subtotal<br />
Health<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Medications<br />
Contacts and Supplies<br />
Gym Memberships<br />
Other:<br />
Other:<br />
Subtotal
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY EXPENSES (continued)<br />
Personal<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Alimony/Child Support<br />
Education<br />
Child Care<br />
Life Insurance (not paid<br />
through payroll deduction)<br />
Charitable Contributions<br />
Barber/Beauty Shop<br />
Vacations<br />
Recreational/Hobbies<br />
Alcohol/Tobacco<br />
Entertainment<br />
Video/Game Rental<br />
Music/App Downloads<br />
Subscriptions<br />
Pet Food/Supplies/Other<br />
Other:<br />
Other:<br />
Subtotal
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY EXPENSES (continued)<br />
Personal Debt<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Credit Card Payment<br />
Credit Card Payment<br />
Credit Card Payment<br />
Loan Payment<br />
Loan Payment<br />
Loan Payment<br />
Other Payment:<br />
Other Payment:<br />
Subtotal<br />
Add up each of your<br />
subtotals and enter<br />
them in the space<br />
below<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Total Monthly<br />
Expenses
<strong>Worksheet</strong>:<br />
Spending Plan<br />
MONTHLY INCOME<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Net Monthly Salary (Take-<br />
Home Pay) - Self<br />
Net Monthly Salary - Spouse<br />
Part-Time Job<br />
Tips or bonuses<br />
Military Retirement Pay<br />
Child Support<br />
Social Security Payment<br />
AFDC<br />
Food Stamps<br />
Other:<br />
Other:<br />
Total Monthly<br />
Income<br />
TOTAL ACTUAL MONTHLY INCOME<br />
– Total Actual Monthly EXPENSES –<br />
= Money you can SAVE or PAY DOWN DEBTS!<br />
If you have a negative number look back at your expenses and see where you can spend less. Enter your new<br />
spending targets and the amount saved in the appropriate columns. For example, say you want to trim your eating<br />
out expense from $350 to $250, enter $250 in “This Month’s Spending Target” column and $100 in the “Estimated<br />
Difference” column.<br />
If you have a positive number, consider adding it to your savings or paying down high-interest debts. You may still want to<br />
review your expenses and look for possible cuts to help you pay down your debt or reach your savings goals faster.
<strong>Worksheet</strong>:<br />
Spending Plan<br />
HOW MUCH CAN YOU SAVE?<br />
Savings<br />
Last Month’s<br />
Actual $<br />
This Month’s<br />
Spending<br />
Target<br />
Estimated<br />
Difference<br />
This Month’s<br />
Actual $<br />
Actual<br />
Difference<br />
Emergency Savings<br />
TSP<br />
401(k)/403(b)<br />
Individual Retirement<br />
Accounts<br />
College Savings<br />
Personal Savings<br />
Investments<br />
Other:<br />
Total<br />
Small Change = Big Savings<br />
See how much the few changes in your budget will affect your savings over time. If you reduced your spending in a<br />
number of categories, add up the “Estimated Difference” column and multiply that number by 12. This is how much<br />
more money you could save over a year if you stuck to your spending targets.<br />
Estimated Difference Total $_______________<br />
X 12<br />
Total Savings<br />
$_______________
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