Monthly Income and Expense Worksheet

After you determine your overall financial condition (net worth), the next step is to analyze your monthly cash flow. This will show you which direction you are headed—whether you are accumulating money, holding steady or going further into debt. Use the form below to examine your monthly income and expenses.

Download the Monthly Income and Expense Worksheet.

Monthly Income and Expense Worksheet

Adjusted Monthly Income
Initial take-home pay		Total
	Wages/salary (net after taxes and deductions)
	Other income (net after taxes and deductions)

Post-tithe income
	All tithes
	Subtract all tithes from total take-home pay:

Monthly Expenses
Additional charitable giving		Total	% of post-tithe income	Recom-mended %*
	Offerings
	Other charities
	Personal assistance
				0.5-5%
Savings
	Emergency
	Retirement
	Higher education
	Investments
	General/other
				5-11%
Housing
	Rent or mortgage(s), including private mortgage insurance
	Real estate taxes
	Homeowner's inurance
	Home association dues
	Repairs/maintenance
	Furnishings/equipment
	Household needs
	Other
				28-39%
Utilities
	Electricity
	Gas
	Water/sewer
	Trash
	Home phone
	Cell phone
	Cable/satellite TV
				5-11%
Food
	Groceries
	School/work lunches
	Restaurants
				5-17%
Transportation
	Car payments/replacement
	Auto insurance
	License/taxes
	Gas/oil
	Maintenance
	Parking/tolls
	Bus/train/fare
				11-17%
Clothing
	Adult's clothes
	Children's clothes
	Accessories
	Laundry/dry cleaning
				2-8%
Health care and wellness
	Health insurance
	Disability insurance
	Doctors/caregivers
	Dentists
	Prescriptions
	Nonprescription medications
	Health products
	Gym membership
	Fitness classes
	Other
				5-11%
Personal
	Life insurance
	Child care
	Alimony/child support
	Toiletries
	Cosmetics
	Hair care
	Adult education
	Children's tuition
	School supplies
	Subscriptions
	Organization memberships
	Gifts
	Misc.
	Spending money
				5-11%
Recreation
	Entertainment
	Vacation/travel
	Other
				5-11%
Debt repayment
	Bank/personal loans
	Credit cards
	Student loans
	Other
				5-11%**

Total monthly expenses (add all the above expenses)				100%

Monthly surplus or deficit (monthly post-tithe income minus expenses)

The recommended percentages are adjusted from common recommendations by assuming tithes have already been deducted. *When debt is repaid, its percentage should shift to savings, eventually putting savings at 10-22%.

Previous: Determining Your Net Worth

Next: Money in Marriage