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    Personal Budget

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    clossbu2310
    The document provides a template for comparing projected and actual spending over a one-month period. It includes sections for total income, fixed expenses like mortgage and utilities, savings, and variable expenses like food and entertainment. The purpose is to evaluate if actual spending aligns with the budget and financial goals.

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    Personal Budget

    Uploaded by

    clossbu2310
    28 views1 page
    The document provides a template for comparing projected and actual spending over a one-month period. It includes sections for total income, fixed expenses like mortgage and utilities, savings, and variable expenses like food and entertainment. The purpose is to evaluate if actual spending aligns with the budget and financial goals.

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    personal_budget

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    The document provides a template for comparing projected and actual spending over a one-month period. It includes sections for total income, fixed expenses like mortgage and utilities, savings, and variable expenses like food and entertainment. The purpose is to evaluate if actual spending aligns with the budget and financial goals.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    28 views1 page

    Personal Budget

    Uploaded by

    clossbu2310
    The document provides a template for comparing projected and actual spending over a one-month period. It includes sections for total income, fixed expenses like mortgage and utilities, savings, and variable expenses like food and entertainment. The purpose is to evaluate if actual spending aligns with the budget and financial goals.

    Copyright:

    © All Rights Reserved
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    Name: #REF! Date: #REF!

    Developing a Personal Budget 8


    Purpose: To compare projected and actual spending for a one- (or three-) month period.
    Financial Planning Activities: Estimate projected spending based on your cash flow statement, and maintain records for
    actual spending for these same budget categories.
    Suggested Websites: www.betterbudgeting.com www.asec.org www.mymoney.gov
    Suggested App: Home Budget

    Budgeted Amounts
    Income Dollar Percent Actual Amounts Variance

    Salary $4,000.00 100.00% $10.00 -50.00%

    Your Personal Financial Plan


    Other $0.00 0.00% $10.00 50.00%
    Total income $4,000.00 100.00% $20.00
    Expenses <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
    Fixed expenses <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
    Mortgage or rent $1,200.00 59.11% $10.00 -39.11%

    Property taxes $300.00 14.78% $10.00 5.22%

    Loan payments $350.00 17.24% $10.00 2.76%

    Insurance $180.00 8.87% $10.00 11.13%


    Other $0.00 0.00% $10.00 20.00%
    Total fixed expenses $2,030.00 100.00% $50.00
    Emergency fund/savings <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

    Emergency fund $10,000.00 55.56% $10.00 -22.22%


    Savings for $0.00 0.00% $10.00 33.33%

    Savings for Checkings $8,000.00 44.44% $10.00 -11.11%


    Total savings $18,000.00 100.00% $30.00
    Variable expenses <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

    Food $500.00 49.02% $10.00 -40.69%


    Utilities $120.00 11.76% $10.00 -3.43%

    Clothing $50.00 4.90% $10.00 3.43%

    Transportation costs $50.00 4.90% $10.00 3.43%


    Personal care $30.00 2.94% $10.00 5.39%
    Medical and health care $200.00 19.61% $10.00 -11.27%
    Entertainment $20.00 1.96% $10.00 6.37%
    Education $50.00 4.90% $10.00 3.43%
    Gifts/donations $0.00 0.00% $10.00 8.33%

    Miscellaneous $0.00 0.00% $10.00 8.33%

    Other $0.00 0.00% $10.00 8.33%

    Other $0.00 0.00% $10.00 8.33%


    Total variable expenses $1,020.00 100.00% $120.00
    Total expenses $3,050.00 100.00% $170.00

    What's Next for Your Personal Financial Plan?


    * Evaluate the appropriateness of your budget for your current life situation.
    * Assess whether your budgeting activities are helping you achieve your financial goals.

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