Goal-Driven Budget Worksheet

Goal-Driven Budget Worksheet

INCOME

Source / Amount Per YEAR
Job income (including summer, part-time, and work-study jobs) / $
Loans / $
Scholarships/Grants / $
Family support / $
Other income (combined) / $
TOTAL YEARLY INCOME / $

EXPENSES

School Costs / Amount Per YEAR
Tuition / $
Room & Board (if applicable) / $
Books / $
TOTAL YEARLY SCHOOL EXPENSES / $

Your Effective Yearly Net Income

Total Yearly Income Total Yearly School Expenses Effective Yearly Net Income

- =

Your Effective Monthly Net Income

Effective Yearly Net Income Effective Monthly Net Income

/ =

Fixed Expenses (These expenses are set.) / Expected Amount Per Month / Actual Amount / Difference
Rent (if applicable) / $ / $ / $
Loan payments / $ / $ / $
Car payments / $ / $ / $
Car insurance payments / $ / $ / $
Other expenses (combined) / $ / $ / $
TOTAL MONTHLY FIXED EXPENSES / $ / $ / $
Variable Expenses (These expenses vary.) / Expected Amount Per Month / Actual Amount / Difference
Utilities (if applicable) / $ / $ / $
Transportation (parking, gas, etc.) / $ / $ / $
Food / $ / $ / $
Medical (prescriptions, doctor visits, etc.) / $ / $ / $
Household expenses (laundry, cleaning supplies, etc.) / $ / $ / $
Cell phone / $ / $ / $
Entertainment (movies, dining out, etc.) / $ / $ / $
Other / $ / $ / $
TOTAL MONTHLY VARIABLE EXPENSES / $ / $ / $

Your Total Monthly Expenses

Total Fixed Expenses Total Variable Expenses Total Monthly Expenses

+ =

Net Money

Subtract what you spend from what you make

Effective Monthly Net Income

Minus Total Monthly Expenses -

______

Net Money =

Review your monthly budget at the end of the month.

·  Revisit your goals: did your budget prioritize these objectives? Did your actual spending habits reflect your dedication to these goals? What changes do you need to make to refine your budget and/or your actual spending habits?

·  Were your expected amounts on your budget similar to what you actually spent? If not, where were the major discrepancies? What changes need to be made to your budget and/or your actual spending habits?

·  Do any additional categories need to be added to your budget?

·  What other changes need to be made to your budget and/or your actual spending habits?

Scarlet & Gray Financial

Student Wellness Center, swc.osu.edu

Adapted from Credit-ED Challenge, Citi. The Ohio State University

Source: http://www.Students.UseCreditWisely.com 614-292-4527,