The following worksheet lists Income and Spending to calculate discretionary spending. It can help to identify items that can and should be reduced and how much might be put to savings now or as part of a year (or longer) plan.
Gross Annual Income _________ Gross Monthly Income ________
Monthly Expenses: Estimate or itemize by month, divide annuals (i.e. insurance) by 12.
________ Payroll deductions (estimated at 25% gross or use actuals by paycheck)
________ Propane (stove)
________ Other (trash, water, sewer, etc.)
________ Renter Insurance
________ Child Care
________ School Loan(s)
________ Auto Loan(s)
________ Credit Card(s)
________ Out of Pocket Medical/Dental
________ Auto Insurance
________ Auto Maintenance (tire change, oil, tune up, inspection, new tires)
________ Auto Repairs
________ Groceries, household and personal items
________ Eat out, School lunch
________ Beer, wine, soda
________ Daily out of pocket – Coffee, soda, cigarettes, etc.
________ Church/Family (donations and gifts)
________ Vacation travel
________ Monthly Spending ________ Monthly Discretionary