Skip to content

Vince’s Monthly Budget

Budget to Save

 

Get a Handle on Income and Expenses

Using Vince’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.

Vince’s Monthly Budget

Income

Current income

Income changes

New budget

Take-home pay

$
1,400
$
0
$
1,400

Total income

$
1,400
$
$
1,400

Expenses

Current expenses

Spending changes

New budget

Rent

$
250
$
0
$
250

Groceries/eating out

$
400
$
–100
$
300

Car insurance

$
66
$
0
$
66

Health insurance

$
84
$
0
$
84

Entertainment

$
225
$
–100
$
125

Credit card payment

$
60
$
75
$
135

Clothing

$
40
$
0
$
40

Gas

$
220
$
–70
$
150

Cable and wireless

$
100
$
0
$
100

Miscellaneous daily expenses

$
100
$
–50
$
50

Total expenses

$
1,545
$
–245
$
1,300

Monthly net (income–expenses)

$
–145
$
0
$
100

Available to save or invest

$
0
$
0
$
100

From Chapter 2: Budget to Save

Vince used the information from tracking his day-to-day expenses to develop a monthly budget. When he reviewed his daily spending and budget, he realized he could reduce his spending by $340 each month by:


Back to Chapter 2