Spending plan work sheet
   Spending plan
 
Instructions: 1. Calculate monthly net income in box 1
2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)
3. Compare income and expenses and make adjustments
1. Monthly net income
 
  Net* monthly wages $______________  
Net monthly wages of others in home $______________
Public assistance/food stamps $______________
Unemployment/disability $______________
Child support/alimony $______________
Social Security/retirement $______________
Other $______________
Other $______________
Total monthly net income $______________
 
* After tax withholding and other deductions
 
 

Reproduced with the permission of Michigan State University Cooperative Extension



Downloadable PDF

Spending plan work sheet
   Spending plan
 
Instructions: 1. Calculate monthly net income in box 1
2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)
3. Compare income and expenses and make adjustments
2a. Fixed expenses
 
  Housing    
Rent or mortgage
$______________
Insurance/taxes*
$______________
 
 
Utilities  
Telephone
$______________
Heating
$______________
Electricity
$______________
Trash/garbage
$______________
Water
$______________
Sewage
$______________
Cable
$______________
Other: ______________________
$______________
Credit card payments  
______________________________
$______________
______________________________
$______________
______________________________
$______________
______________________________
$______________
______________________________
$______________
Auto  
Loan payment
$______________
Insurance*
$______________
License
$______________
Child support/alimony $______________
Life insurance* $______________
Other  
______________________________
$______________
______________________________
$______________
______________________________
$______________
Total monthly estimated

Fixed expenses
$______________
*Monthly portion of premiums in NOT paid by employer OR automatically deducted from your paycheck OR listed with your periodic expenses on Page 2.
 

Reproduced with the permission of Michigan State University Cooperative Extension



Downloadable PDF

Spending plan work sheet
   Spending plan
 
Instructions: 1. Calculate monthly net income in box 1
2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)
3. Compare income and expenses and make adjustments
2b. Controllable expenses
  Food    
Groceries
$______________
Food eaten out
$______________
Household expenses  
Repairs & supplies
$______________
Furnishings & appliances
$______________
Outside upkeep
$______________
Transportation  
Gas and repairs
$______________
Other transportation
$______________
Personal/medical care $______________
Education/reading $______________
Travel & entertainment $______________
Child/elder care $______________
Charity/gifts/special expenses $______________
Clothing $______________
Savings $______________
Other $______________
Total monthly estimated

Fixed expenses
$______________
*Monthly portion of premiums in NOT paid by employer OR automatically deducted from your paycheck OR listed with your periodic expenses on Page 2.
 

Reproduced with the permission of Michigan State University Cooperative Extension



Downloadable PDF

Spending plan work sheet
   Spending plan
 
Instructions: 1. Calculate monthly net income in box 1
2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)
3. Compare income and expenses and make adjustments
2c. Periodic expenses

These are expenses that come up once or twice a year. Fill in the estimated costs under the months they are due. Taxes, insurance premiums, auto servicing, tires, license, birthdays and holidays, educational costs, vacations, etc. Do not include taxes withheld from your paycheck, but do include estimated tax payments you make to the IRS. Add your yearly periodic expenses and divide by 12 to determine the monthly portion.

Jan.   July
Feb.   Aug.
March   Sept.
April   Oct.
May   Nov.
June   Dec.
Subtotal $
Subtotal $
Total periodic expenses = Monthly portion periodic expenses
12  
 

Reproduced with the permission of Michigan State University Cooperative Extension



Downloadable PDF

Spending plan work sheet
   Spending plan
 
Instructions: 1. Calculate monthly net income in box 1
2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)
3. Compare income and expenses and make adjustments
3. Compare income & expenses
Net monthly income   $___________
Estimated expenses:  
Fixed………………….$___________
 
Controllable…………$___________
 
Periodic………………$___________
 
(monthly portion)
 
 

minus

$___________
  Balance $___________
 

Reproduced with the permission of Michigan State University Cooperative Extension



Downloadable PDF

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