Basic Living Expenses - University of Wisconsin-Madison



Monthly Spending PlanThe first step in making ends meet is to figure out how much money you have coming in each month and how much your monthly living expenses add up to. Use this worksheet to figure out if your income will cover all of your current expenses.0148590Basic Living ExpensesMonthly Expense$ AmountRent/Mortgage Electricity Heating Oil or Gas Water/Sewer Cable/Satellite Internet Cell Phone/LandlineGas for CarCar insurance paymentEating OutGroceries“Stuff” for household & personal careClothing and LaundryDoctor co-pays/ PrescriptionsEntertainment – movies, hobbies, habits PetsGifts/donationsHealth/Life insuranceMoney put into savingsMONTHLY EXPENSES $ (total from above)+ MONTHLY DEBT PAYMENTS $(total from debt chart)= ADD UP TOTAL $ MONTHLY SPENDING 00Basic Living ExpensesMonthly Expense$ AmountRent/Mortgage Electricity Heating Oil or Gas Water/Sewer Cable/Satellite Internet Cell Phone/LandlineGas for CarCar insurance paymentEating OutGroceries“Stuff” for household & personal careClothing and LaundryDoctor co-pays/ PrescriptionsEntertainment – movies, hobbies, habits PetsGifts/donationsHealth/Life insuranceMoney put into savingsMONTHLY EXPENSES $ (total from above)+ MONTHLY DEBT PAYMENTS $(total from debt chart)= ADD UP TOTAL $ MONTHLY SPENDING 2968625146685 Debts (bills that charge interest)Name ofCreditorMonthlyPaymentRequestedTotalAmount Owed YetCar Payment 1$$Car Payment 2Medical BillPast Due UtilitiesCredit CardsTOTAL DEBTS$$00 Debts (bills that charge interest)Name ofCreditorMonthlyPaymentRequestedTotalAmount Owed YetCar Payment 1$$Car Payment 2Medical BillPast Due UtilitiesCredit CardsTOTAL DEBTS$$283845067481450032099254204970TAKE HOME INCOME/PAYCHECKS (after taxes/benefits are taken out) Income (1) $ ___________ Income (2) $ ___________ Income (3) $ ___________ Income (4) $ ___________-----------------------------------------------------------------TOTAL MONTHLYNET (TAKE HOME) INCOME $ _______________Minus TotalMonthly Spending - ____________Difference +/- ______________00TAKE HOME INCOME/PAYCHECKS (after taxes/benefits are taken out) Income (1) $ ___________ Income (2) $ ___________ Income (3) $ ___________ Income (4) $ ___________-----------------------------------------------------------------TOTAL MONTHLYNET (TAKE HOME) INCOME $ _______________Minus TotalMonthly Spending - ____________Difference +/- ______________ ................
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