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)

________     Rent
________     Heat
________     Electric
________     Propane (stove)
________     Other (trash, water, sewer, etc.)
________     Renter Insurance
________     Child Care

________     Telephone
________     Internet
________     Cable

________     School Loan(s)
________     Auto Loan(s)
________     Credit Card(s)
________     Out of Pocket Medical/Dental

________     Auto Insurance
________     Gas
________     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.
________     Movies/Entertainment
________     Church/Family (donations and gifts)
________     Newspaper/Magazines
________     Vacation travel
________     Other…

________     Monthly Spending                                     ________    Monthly Discretionary