Rent or mortgage \$
Renter's insurance or homeowners insurance \$
\$
Internet, cable, and cell phone and/or landline \$
Other housing expenses (like property taxes) \$
Groceries and household supplies
\$
Meals out \$
\$
Budgeting Worksheet
Seng a budget and developing a spending plan is a great way to relieve uncertainty and stress
while also helping you to ﬁgure out how to meet both your short-term and long-term ﬁnancial goals.
Use this worksheet to calculate your monthly expenses and income to get an idea of what you have
to work with, what your commitments are, and what you have remaining to devote to your goals.
Step 1: Calculate Your Income
Figure out how much you get paid each month, aer taxes are removed, and add it to the table
below.
Step 2: Calculate Expenses
Record your expenses using the table below. For expenses that change from month-to-month
(such as ulies), use your average spending based on past month’s bills.
Weekly pay schedule: Multiply your weekly income by 52 and then divide by 12
Bi-weekly pay schedule (every two weeks): Multiply by 26 and then divide by 12
Inconsistent pay schedule: If your pay is not on a consistent schedule (e.g., seasonal work,
side income), take last year’s total income and divide by 12 for your average monthly income.
\$
\$
Total monthly income
\$
Monthly Income
Monthly Expenses
Paycheck (income aer taxes, beneﬁts and check-cashing fees)
Other income (e.g., side jobs, child support)
Utilities (e.g., electric, gas, water)
Other (e.g., meal subscriptions)
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Expenses Monthly total
\$
\$
\$
\$
\$
\$
\$
\$
\$
\$
\$
\$
Other debt payments (e.g., personal loans, credit cards)
Other expenses or fees
\$
Total monthly expenses
HEALTH
PERSONAL & FAMILY
OTHER
\$ \$ \$
ExpensesIncome
\$
=
\$
Gasoline \$
\$
\$
Car payments (e.g., insurance, loans, lease)
\$
TRANSPORT
Public transit (e.g., bus, taxi, ride-sharing)
Clothing and shoes
If your income is greater than your expenses, this is a budget surplus: use this money to save for goals and to add
to your savings account! If your expenses are greater than your income, this means you have a budget deﬁcit.
For additional tips on prioritizing you expenses, check out GreenPath’s Aligning Priorities Workbook.
Car maintenance (e.g., oil change, new res)
Other transportaon expenses (e.g., parking, tolls)
Prescripons and medicaons
Health insurance (if not deducted from paycheck)
Other medical expenses (e.g., Dr. oﬃce copay, glasses, contacts)
Child care (e.g., daycare, babysier)
Money given or sent to family (e.g., gis, child support)
Entertainment (e.g., movies, concerts)
Subscripons (e.g., streaming services, music, mobile apps)
Pet care (e.g., food, vet, dog-daycare)
Other personal or family expenses (e.g., toiletries, makeup, haircut)
Savings (e.g., emergency fund, holidays, vacation)
School costs (e.g., supplies, tuition, student loans)
Budgeng Worksheet (connued)
Budget Surplus or Deﬁcit
Free Budgeting Assistance & Counseling Support from GreenPath
If you are having trouble paying your bills, we encourage you to connect
with our partners at GreenPath Financial Wellness for a free counseling
session. They can help you to make a plan and may also be able to lower
your interest rates on your exisng credit card debts.
www.greenpathref.com
877-337-3399
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