The Art of Personal Finance

Budget Project Worksheet - Income

1. What is your city & state of residence?

New York City City/State of residence

2. What is your estimated gross annual income?

$ 30,000

3. What is your monthly gross income?

$ 2,500

4. What is your monthly net income?

$ 1,963
The Art of Personal Finance
Budget Project Worksheet - Housing

1. What neighborhood of your chosen city do you plan to live in?

Washington Heights Neighborhood of residence

apartments.com Source for apartment search

$ 1,700.00 Monthly rent

YES Will the above rent be split between you and roommate(s)?
$ 850.00 If yes, what is your share of the monthly rent?

Are the following utilities included in your rent? Terms of agreement for living at home:
no Gas
no Water/Sewer

Estimated monthly utility bills:

$ 53.00 Electricity
$ 42.50 Gas
$ 25.00 Water/Sewer

2. Will you own a car or take public transportation?

Public Transportation Car or public transportation?

$127 If you will take public transportation, what is the cost of a monthly pass?

If you will own a car, will you take out a loan?

If you will take out a loan, what is the estimated monthly payment?
for living at home:
The Art of Personal Finance
Budget Project Worksheet - Fixed Essential Expenses

1. What are your fixed monthly essential expenses?

$ 850 Rent
$ 121 Utilities
$ 20 Renters insurance
$ 200 Food (groceries, not eating out)
$ 45 Cable/internet
$ 40 Phone
$ 207 Health insurance
$ 50 Disability insurance
$ 127 Monthly transit pass
$ - Car payment
$ - Car insurance
42.50. Gas
Other
Other
Other

$ 1,703 TOTAL FIXED, ESSENTIAL EXPENSES

The Art of Personal Finance
Budget Project Worksheet - Fixed Non-essential Expenses

1. What are your fixed, non-essential expenses?

$ 60 Student loans
$ 50 Credit card 1
Credit card 2
Credit card 3
Other loan 1
Other loan 2
$ - Emergency fund
Retirement fund
Other
Other
Other

$ 110 TOTAL MONTHLY FIXED, NON-ESSENTIAL EXPENSES

The Art of Personal Finance
Budget Project Worksheet - Discretionary Spending

1. How much do you plan to spend on discretionary items?

Minimum Budgeted Amount

$ - $ 20 Clothes
$ 30 $ 60 Meals out
$ - Medical expenses
$ 40 $ 80 Entertainment
$ - Vacations
$ - Gifts
$ - Holidays
$ - Car maintenance
$ - House maintenance
$ - $ - Home décor
$ - Charitable donations
$ 60 $ 100 Other travel
$ 50 $ 120 Other classes
Other
Other

$ 180 $ 380 TOTAL MONTHLY DISCRETIONARY SPENDING

The Art of Personal Finance
Budget Project Worksheet - Summary

MONTHLY NET INCOME

Occupation 1 actor $ 1,963
Other income savings account $ 600
Other income parents $ 100

TOTAL MONTHLY NET INCOME $ 2,663

MONTHLY EXPENSES
Total fixed essential expenses $ 1,703
Total fixed non-essential expenses $ 110
Total discretionary expenses $ 380

TOTAL MONTHLY EXPENSES $ 2,193

TOTAL INCOME LESS EXPENSE $ 470

IF MY TOTAL INCOME IS LESS THAN TOTAL EXPENSE, MY PLAN TO DEAL WITH THE CASH SHORTFALL IS: