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Sonya’s Monthly Budget

Budget to Save

 

Get a Handle on Income and Expenses

Using Sonya’s budget below (or another) as an example, track your income and expenses online, or download a spreadsheet or PDF of the blank monthly budget sheet. Identify changes you can make to increase your income or decrease your expenses. Then develop a new budget that includes more savings. Be sure to make changes that you can live with from month to month.

web xls pdf

Complete your own online


See what the other people of Building Wealth learned when they created budgets.

Sonya’s Monthly Budget

Income

Current income

Income changes

New budget

Take-home pay

$
2,700
$
0
$
2,700

Alimony/child support

$
800
$
0
$
800

Total income

$
3,500
$
0
$
3,500

Expenses

Current expenses

Spending changes

New budget

Mortgage (including insurance and property taxes)

$
750
$
0
$
750

Utilities

$
150
$
0
$
150

Car payment

$
325
$
0
$
325

Car insurance

$
100
$
0
$
100

Credit card payment

$
50
$
0
$
50

Groceries

$
300
$
0
$
300

Gas and car maintenance

$
150
$
0
$
150

Cell phone

$
90
$
0
$
90

Internet

$
60
$
0
$
60

Cable TV

$
50
$
0
$
0

Entertainment

$
100
$
0
$
100

Shopping

$
100
$
0
$
100

Son’s extracurriculars/tutoring

$
200
$
0
$
200

Charitable contributions

$
150
$
0
$
150

Medical copays and prescriptions

$
50
$
0
$
50

Total expenses

$
2,625
$
0
$
2,625

Monthly net (income–expenses)

$
875
$
0
$
875

Available to save or invest

$
875
$
0
$
875

From Chapter 2: Budget to Save

When Sonya reviewed her daily spending and budget, she confirmed she didn’t have any major changes to make.


Back to Chapter 2