BUDGET WORKSHEET
FINANCIAL FREEDOM … HERE I COME!
The key to successful budgeting is to have a detailed
budget. In fact, the reason most budgets fail is that they
aren’t detailed enough. But before you start plugging in
numbers, take a month and track what you spend in each
category, then make your budget. Taking the time to
track your expenses before creating a budget will help
you come up with a realistic plan.
SPREADSHEET
AVAILABLE ONLINE
This worksheet is available as a downloadable, interactive spreadsheet at
care.ac/vjvn. Please use this
important tool!
Tracking your expenses for a month
can seem overwhelming. But here are
INSTRUCTIONS:
a few tips to make it easier,
1 Column A: For one month, keep track of your in-
and worth it.
come and expenses in each category. Doing
Track everything you spend – A dol-
this helps you keep from trying to guess your
lar spent here or there adds up over
actual income and expenses.
a month. You won’t have an accurate
picture of what you spend, unless you
2 Column B: After a month of tracking your income
keep track of every cent.
and expenses, create a budget in Column B. Do this
Use a debit card – If you can, buy
by entering your anticipated income and by
everything with your debit card (not
determining the maximum amount you need to, and
credit card). When your statement
can, spend in each category. (Note: Add categories as
comes, you can quickly see how
needed, and disregard those that don’t apply.)
you’ve spent your money.
3 Column C: Record the difference by subtracting
Column A from B. This will let you know when your
income and/or expenses get out of whack.
Use the online spreadsheet to customize for your family.
You are welcome to print a new copy each month or track
your budget electronically.
Make use of your bank – Many banks
offer free online banking resources.
Use them to keep track of how much
you spend each month.
Keep receipts – Identify a place in your
wallet, purse, drawer, etc., where you’ll
keep your receipts for a month. At the
month’s end, you can easily see how
you’ve spent your money.
BUDGET WORKSHEET
133
INCOME
M O N T H LY I N C O M E
COLUMN A
COLUMN B
COLUMN C
AMOUNT I RECEIVED
THIS MONTH
BUDGETED
AMOUNT
DIFFERENCE
(COLUMN B – A)
COLUMN A
COLUMN B
COLUMN C
AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
Your salary (after taxes)
Unemployment benefits
Welfare payments
Child support/alimony
Other –
Other –
Total income
EXPENSES
M O N T H LY E X P E N S E S
HOUSING/UTILITIES
Mortgage/rent
Insurance/taxes
Electricity
Water/sewer
Gas
Trash
Telephone (landline)
Cell phone
Cable
Internet
Home maintenance
Yard maintenance
Cleaning supplies
Other –
Total housing/utilities
FOOD
Groceries
Eating out
Coffee/vending machine
Special events
Total food
134
BUDGET WORKSHEET
M O N T H LY E X P E N S E S
C O N T.
COLUMN A
COLUMN B
COLUMN C
AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
VEHICLE(S)/TRANSPORTATION
Payments
Gas
Oil change
Insurance/taxes
Maintenance
Public transit/parking/tolls
Total vehicle(s)/transportation
INSURANCE
Medical
Dental
Life
Other –
Total insurance
MEDICAL EXPENSES
Doctor
Dentist
Prescription drugs
Other –
Total medical expenses
DEBTS
Credit card 1 –
Credit card 2 –
Credit card 3 –
Loans
Total debts
CHILDREN
Child care
School books/supplies
School lunch
School uniform(s)/tuition
Field trips/misc fees
Sport(s) & equipment
Lessons
Club/group/hobbies
Other –
Total children
BUDGET WORKSHEET
135
M O N T H LY E X P E N S E S
C O N T.
COLUMN A
COLUMN B
COLUMN C
AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
ADULT EDUCATION
Tuition/fees
Books/materials
Total adult education
ENTERTAINMENT
Movies/games/hobbies
Vacation(s)
Music
Other –
Total entertainment
GIVING
Church
Charity/community
Total giving
MISCELLANEOUS
Clothes
Haircuts
Toiletries/cosmetics
Pets
Postage
Magazines
Other –
Total miscellaneous
SAVINGS
Money to set aside
(emergency, large purchases, etc.)
Christmas and birthdays
Retirement
College
Total savings
Total expenses
(total amount for all 12 expense
categories – housing, food, etc.)
SUMMARY
Total income (from top of p. 134)
Total expenses
Income minus expenses
136
BUDGET WORKSHEET