Monthly Income and Expense Worksheet |
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Adjusted Monthly Income |
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Initial take-home pay |
Total |
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Wages/salary (net after taxes and deductions) |
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Other income (net after taxes and deductions) |
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Post-tithe income |
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All tithes |
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Subtract all tithes from total take-home pay: |
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Monthly Expenses |
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Additional charitable giving |
Total |
% of post-tithe income |
Recom-mended %* |
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Offerings |
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Other charities |
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Personal assistance |
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0.5-5% |
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Savings |
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Emergency |
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Retirement |
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Higher education |
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Investments |
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General/other |
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5-11% |
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Housing |
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Rent or mortgage(s), including private mortgage insurance |
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Real estate taxes |
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Homeowner's inurance |
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Home association dues |
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Repairs/maintenance |
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Furnishings/equipment |
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Household needs |
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Other |
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28-39% |
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Utilities |
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Electricity |
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Gas |
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Water/sewer |
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Trash |
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Home phone |
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Cell phone |
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Cable/satellite TV |
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5-11% |
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Food |
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Groceries |
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School/work lunches |
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Restaurants |
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5-17% |
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Transportation |
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Car payments/replacement |
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Auto insurance |
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License/taxes |
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Gas/oil |
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Maintenance |
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Parking/tolls |
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Bus/train/fare |
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11-17% |
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Clothing |
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Adult's clothes |
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Children's clothes |
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Accessories |
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Laundry/dry cleaning |
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2-8% |
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Health care and wellness |
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Health insurance |
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Disability insurance |
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Doctors/caregivers |
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Dentists |
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Perscriptions |
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Nonperscription medications |
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Health products |
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Gym membership |
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Fitness classes |
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Other |
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5-11% |
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Personal |
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Life insurance |
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Child care |
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Alimony/child support |
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Toiletries |
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Cosmetics |
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Hair care |
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Adult education |
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Children's tuition |
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School supplies |
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Subscriptions |
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Organization memberships |
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Gifts |
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Misc. |
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Spending money |
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5-11% |
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Recreation |
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Entertainment |
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Vacation/travel |
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Other |
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5-11% |
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Debt repayment |
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Bank/personal loans |
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Credit cards |
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Student loans |
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Other |
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5-11%** |
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Total monthly expenses (add all the above expenses) |
100% |
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Monthly surplus or deficit (monthly post-tithe income minus expenses) |
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*The recommended percentages are adjusted
from common recommendations by assuming tithes have already been deducted. **When debt is repaid, its percentage should shift to savings, eventually putting savings at 10-22%. |
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