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Sample Budget

Available in PDF | MS Word

One of the steps in managing your money is preparing a budget. Filling out this sample budget will allow you to calculate your discretionary income. To determine your average monthly discretionary income, do the following: 1) add together your monthly fixed expenses and variable expenses (your total yearly variable expenses divided by 12 months), and 2) subtract your monthly expense figure from your monthly fixed and variable income (your total yearly variable income divided by 12 months).

Once you know your monthly discretionary income and investment amounts, you may choose to continue on with your current budget or adjust it to reflect new financial goals or circumstances.

INCOME
Take home pay (_______________)$__________ 
Take home pay (_______________)$__________ 
Other income $__________ 
Total Income  $__________
EXPENSES
Fixed Expenses
Rent or Mortgage $__________ 
Credit card payments $__________ 
Home equity loans $__________ 
Vehicle loans $__________ 
Life insurance $__________ 
Auto insurance $__________ 
Homeowner/renter insurance $__________ 
Health insurance $__________ 
Other (_______________) $__________ 
  Total $__________
Savings and Investments
Retirement/401(k) plan $__________ 
Investment fund $__________ 
Vacation fund $__________ 
College fund $__________ 
Emergency fund $__________ 
  Total $__________
Variable Expenses
Heat $__________ 
Electricity $__________ 
Telephone (including cell phone) $__________ 
Water and sewer $__________ 
Cable $__________ 
Internet service provider $__________ 
Car repairs $__________ 
Gasoline $__________ 
Public transportation/parking $__________ 
Food and beverages $__________ 
Personal care (haircuts, etc.) $__________ 
Recreation and entertainment $__________ 
Medical and dental $__________ 
Charitable contributions $__________ 
Dues and subscriptions $__________ 
Pets $__________ 
School expenses $__________ 
Miscellaneous $__________ 
  Total $__________
Total Expenses   $__________
Net Over/Under Budget   $__________
Next Steps
Contact a qualified consumer attorney to assist with
any credit, banking, or finance issues you face.
(e.g., Chicago, IL or 60611)

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