Divorce Budget Worksheet

1. 133 BUDGET WORKSHEET
BUDGET WORKSHEET
FINANCIAL FREEDOM … HERE I COME!
The key to successful budgeting is to have a detailed
budget. In fact, the reason most budgets fail is that they
aren’t detailed enough. But before you start plugging in
numbers, take a month and track what you spend in each
category, then make your budget. Taking the time to
track your expenses before creating a budget will help
you come up with a realistic plan.
INSTRUCTIONS:
1 Column A: For one month, keep track of your in-come
and expenses in each category. Doing
this helps you keep from trying to guess your
actual income and expenses.
2 Column B: After a month of tracking your income
and expenses, create a budget in Column B. Do this
by entering your anticipated income and by
determining the maximum amount you need to, and
can, spend in each category. (Note: Add categories as
needed, and disregard those that don’t apply.)
3 Column C: Record the difference by subtracting
Column A from B. This will let you know when your
income and/or expenses get out of whack.
Use the online spreadsheet to customize for your family.
You are welcome to print a new copy each month or track
your budget electronically.
SPREADSHEET
AVAILABLE ONLINE
This worksheet is available as a down-loadable,
interactive spreadsheet at
care.ac/vjvn. Please use this
important tool!
Tracking your expenses for a month
can seem overwhelming. But here are
a few tips to make it easier,
and worth it.
Track everything you spend – A dol-lar
spent here or there adds up over
a month. You won’t have an accurate
picture of what you spend, unless you
keep track of every cent.
Use a debit card – If you can, buy
everything with your debit card (not
credit card). When your statement
comes, you can quickly see how
you’ve spent your money.
Make use of your bank – Many banks
offer free online banking resources.
Use them to keep track of how much
you spend each month.
Keep receipts – Identify a place in your
wallet, purse, drawer, etc., where you’ll
keep your receipts for a month. At the
month’s end, you can easily see how
you’ve spent your money.

2. 134 BUDGET WORKSHEET
INCOME COLUMN A COLUMN B COLUMN C
MONTHLY I N COME AMOUNT I RECEIVED
THIS MONTH
BUDGETED
AMOUNT
DIFFERENCE
(COLUMN B – A)
Your salary (after taxes)
Unemployment benefits
Welfare payments
Child support/alimony
Other –
Other –
Total income
EXPENSES COLUMN A COLUMN B COLUMN C
MONTHLY E X P E N S E S AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
HOUSING/UTILITIES
Mortgage/rent
Insurance/taxes
Electricity
Water/sewer
Gas
Trash
Telephone (landline)
Cell phone
Cable
Internet
Home maintenance
Yard maintenance
Cleaning supplies
Other –
Total housing/utilities
FOOD
Groceries
Eating out
Coffee/vending machine
Special events
Total food

3. 135 BUDGET WORKSHEET
MONTHLY E X P E N S E S CONT.
AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
VEHICLE(S)/TRANSPORTATION
Payments
Gas
Oil change
Insurance/taxes
Maintenance
Public transit/parking/tolls
Total vehicle(s)/transportation
INSURANCE
Medical
Dental
Life
Other –
Total insurance
MEDICAL EXPENSES
Doctor
Dentist
Prescription drugs
Other –
Total medical expenses
DEBTS
Credit card 1 –
Credit card 2 –
Credit card 3 –
Loans
Total debts
CHILDREN
Child care
School books/supplies
School lunch
School uniform(s)/tuition
Field trips/misc fees
Sport(s) & equipment
Lessons
Club/group/hobbies
Other –
Total children
COLUMN A COLUMN B COLUMN C

4. 136 BUDGET WORKSHEET
MONTHLY E X P E N S E S CONT.
AMOUNT I SPENT
THIS MONTH
BUDGETED AMOUNT
(I CAN’T GO OVER THIS!)
DIFFERENCE
(COLUMN B – A)
ADULT EDUCATION
Tuition/fees
Books/materials
Total adult education
ENTERTAINMENT
Movies/games/hobbies
Vacation(s)
Music
Other –
Total entertainment
GIVING
Church
Charity/community
Total giving
MISCELLANEOUS
Clothes
Haircuts
Toiletries/cosmetics
Pets
Postage
Magazines
Other –
Total miscellaneous
SAVINGS
Money to set aside
(emergency, large purchases, etc.)
Christmas and birthdays
Retirement
College
Total savings
Total expenses
(total amount for all 12 expense
categories – housing, food, etc.)
SUMMARY
Total income (from top of p. 134)
Total expenses
Income minus expenses
COLUMN A COLUMN B COLUMN C