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.