Debt Busting Budget

SAMPLE DEBT BUSTING BUDGET

Date: April 5, 2005

Goal: To pay all credit card debts by December 2006

Category / Account Balance / Payment Due / Due Date / Payment Date / Payment amount / New Balance
Mortgage / B / $85,000.00 / $850.00 / 05/01/05 / 17-Apr-05 / $925.00 / N/A
Car Insurance / B / $1,500.00 / $200.00 / 05/10/05 / 17-Apr-05 / $200.00 / $1,300.00
Gas / A / $215.00 / $130.00 / 05/11/05 / 17-Apr-05 / $150.00 / $65.00
Lights / A / $45.00 / $45.00 / 05/13/05 / 17-Apr-05 / $45.00 / $0.00
Water / A / $37.48 / $37.48 / 05/15/05 / 17-Apr-05 / $38.00 / -$0.52
Store card / C / $1,100.87 / $24.00 / 05/18/05 / 17-Apr-05 / $60.00 / $1,040.87
Store card / C / $400.65 / $10.00 / 05/18/05 / 17-Apr-05 / $15.00 / $385.65
Visa / C / $4,215.00 / $42.15 / 05/22/05 / 17-Apr-05 / $85.00 / $4,130.00
AMEX / C / $653.17 / $653.17 / 05/25/05 / 17-Apr-05 / $653.17 / $0.00
Carfare / E / $115.00 / $115.00 / 05/30/05 / 22-Apr-05 / $115.00 / $0.00
Groceries / D / $200.00 / $200.00 / - / 23-Apr-05 / $200.00 / $0.00
Entertainment / D / $40.00 / $40.00 / - / 26-Apr-05 / $32.00 / $8.00
Savings / E / $50.00 / $50.00 / - / 30-Apr-05 / $58.00 / -$8.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Total payments / -$2,576.17
INCOME
Paycheck / G / $2,400.00
Dividends / G / $250.00
Support / G / $600.00
Total Income / $3,250.00
Budget Bottom Line / $673.83
Category / Payment amount
Mortgage / B / $925.00
Car Insurance / B / $200.00
Gas / A / $150.00
Lights / A / $45.00
Water / A / $38.00
Store card / C / $60.00
Store card / C / $15.00
Visa / C / $85.00
AMEX / C / $653.17
Carfare / E / $115.00
Groceries / D / $200.00
Entertainment / D / $32.00
Savings / E / $58.00
Total A / 3
Total B / 2
Total C / 4
Total D / 2
Total E / 2
Total F / 0