B101 slideshow

Springboard Credit.org Springboard FIT Academy BUDGETING 101

Start right now

Borrowing

Use cash, not credit

Springboard Credit.org Budgeting 101 Part 2

Track your spending

Track everything

Spending categories

Springboard Credit.org Springboard FIT Academy BUDGETING 101

Calculate your income

Paycheck planning

Monthly Income Source Job Spouse’s Job Part-Time Job Rental, Room & Board Received Commissions, Bonuses Tax Refund Government Benefits Child Support/Alimony Support from Family/Friends Personal Loans Collected Other Total Monthly Income

GARAGE SALE

For S ale

Setting Goals

Short-term

Mid-term

Long-term

Financial Goal A new car Amount Needed $14,400 Target Date 36 months # of Pay Periods Until Due Date 72 Savings Needed Per Pay Period $200

Financial Goal A new car Amount Needed $14,400 Target Date 48 months # of Pay Periods Until Due Date 96 Savings Needed Per Pay Period $150

Add it up Total expenses Debt payments + Goals + Total monthly = expenses:

Balance Total monthly income Total monthly expenses - Balance (x/-) =

Necessary Expenses Current Proposed Housing Rent/Mortgage 2nd Mortgage Property Taxes Insurance Necessary HOA Dues Gas/Electricity Water/Sewer/Trash Telephone Food Groceries Dining Out At work/school Insurance Life expenses Health/Dental Disability Medical Care Doctor Optometrist/Lenses Dental Prescriptions Transportation Car Payment 1 Car Payment 2 Insurance Gas/oil Repairs DMV/Smog Tolls/Parking Public Transportation Child Care Daycare/Sitting Child Support/Alimony Miscellaneous Banking Fees Laundry Other Income Taxes Prior Year Estimated Tax Payments Savings Emergency Goals Total Essential Expenses

Discretionary Expenses Current Proposed Personal Beauty/Barber Clothing/Jewelry Cosmetics Discretionary Manicure/Other Entertainment Cable Movie/Video Dining Out Sports/Hobbies/Clubs Vacations/Travel Books/Magazines MP3/Concerts expenses Miscellaneous Pet Care/Vet Gifts Cell Phone Postage Cigarettes/Alcohol Donations/Tithing Internet Access Other Total Discretionary Expenses:

How your spending should look

35- 45%

15%-25%

8%-15%

10%-20%

8%-15%

5%-10%

10%-20%

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B101 slideshow

by Springboard on Nov 08, 2010

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B101 slideshow — Presentation Transcript