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    Intro To Family Fin Readiness Handout2

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    U.S. Army's Family and Morale, Welfare and Recreation Programs
    This document provides a template for creating a monthly budget to track household income and expenses. It lists categories for income including wages, self-employment income, and government benefits. Expense categories include housing, food, transportation, entertainment, medical costs, debt payments, and other obligations. Users are instructed to list the amount budgeted for each income source and expense to calculate their monthly surplus or deficit. The goal is to introduce Army families to the importance of financial planning through creating a personalized household budget.

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    Intro To Family Fin Readiness Handout2

    Uploaded by

    U.S. Army's Family and Morale, Welfare and Recreation Programs
    8 views2 pages
    This document provides a template for creating a monthly budget to track household income and expenses. It lists categories for income including wages, self-employment income, and government benefits. Expense categories include housing, food, transportation, entertainment, medical costs, debt payments, and other obligations. Users are instructed to list the amount budgeted for each income source and expense to calculate their monthly surplus or deficit. The goal is to introduce Army families to the importance of financial planning through creating a personalized household budget.

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    Intro to Family Fin Readiness Handout2

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    This document provides a template for creating a monthly budget to track household income and expenses. It lists categories for income including wages, self-employment income, and government benefits. Expense categories include housing, food, transportation, entertainment, medical costs, debt payments, and other obligations. Users are instructed to list the amount budgeted for each income source and expense to calculate their monthly surplus or deficit. The goal is to introduce Army families to the importance of financial planning through creating a personalized household budget.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    8 views2 pages

    Intro To Family Fin Readiness Handout2

    Uploaded by

    U.S. Army's Family and Morale, Welfare and Recreation Programs
    This document provides a template for creating a monthly budget to track household income and expenses. It lists categories for income including wages, self-employment income, and government benefits. Expense categories include housing, food, transportation, entertainment, medical costs, debt payments, and other obligations. Users are instructed to list the amount budgeted for each income source and expense to calculate their monthly surplus or deficit. The goal is to introduce Army families to the importance of financial planning through creating a personalized household budget.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 2

    Army Family Team Building Level I

    Introduction to Family Financial Readiness

    Monthly Financial Plan (Budget)


    Income Amount
    Wages & salaries
    Self-employment income
    Pension, disability, unemployment, Social Security
    Other (child support, alimony, rent, interest, etc)

    Total Income
    Expenses
    Taxes
    Federal Income Tax
    State Income Tax
    Local & Property taxes
    FICA Withholding
    Medicare Withholdings
    Other Withholdings
    Savings
    IRA/401(k)
    Other savings
    Housing
    Home mortgage or rent
    Home/property insurance
    Electric/gas
    Water/sewage/garbage
    Telephone
    Cell phone
    Cable TV
    Internet service
    Home repairs
    Living Expenses
    Food
    Clothing
    Laundry/dry cleaning
    Personal care
    Daycare
    Newspaper/magazines/books
    Gifts
    School expenses
    Life insurance

    2005/6 1.9 Handout 2-1


    Army Family Team Building Level I

    Monthly Financial Plan (Budget)


    Transportation
    Car payment(s)
    Car insurance
    Gasoline
    Repairs
    Bus/taxi/subway/parking
    Entertainment
    Club dues/hobbies
    Lessons/sports fees
    Movies/theater
    Recreation
    Medical/Dental
    Health insurance
    Doctor/dentist fees
    Prescriptions
    Debt Payments
    Credit card payments
    (1)
    (2)
    (3)
    Installment loan payments
    (1)
    (2)
    (3)
    Personal loans
    (1)
    (2)
    Student loans
    (1)
    (2)
    Debt to government
    Other Monthly Payments
    Child Support
    Alimony
    Total Expenses

    Total Income
    (Subtract) Total Expenses
    Surplus(+) or Deficit(-)

    2005/6 1.9 Handout 2-2

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