Financial Literacy 2007 - Budgeting
smart spending
Creating a family budget

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.
Total periodic expenses= Monthly portion periodic expenses

Reproduced with the permission of Michigan State University Cooperative Extension

 Downloadable PDF


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