Name: Date: Developing a Personal Budget Financial Planning Activities: Estimate projected spending based on your cash flow statement, and maintain records for actual spend spending for these same budget categories. The actual amounts come from PFP 7. Suggested Web sites: www.financialplanabout.com www.asec.org Income: Budget Amounts Percent Actual Amounts Variance Salary Other: Total Income $0.00 $0.00 $0.00 Expenses: Fixed expenses: Mortgage or rent 0.00 $0.00 Property Taxes 0.00 50.00 Loan payments 0.00 $0.0 Insurance 0.00 $0.00 Cable 0.00 $0.0 Telephone 0.00 $0.00 Other: 0.00 $0.00 Other: 0.00 $0.00 Total fixed expenses $0.00 $0.00 $0.0 Emergency f 0.00 $0.0 Emergency fund .0 50.00 Savings for: 0.00 $0.00 Savings for: 0.00 $0.00 Total savings $0.00 $0.00 $0.0 Variable expenses 0.00 $0.00 Food-groceries 0.00 $0.00 Food-out 0.00 $0.00 Clothing 0.00 50.00 Utilities .00 $0.00 Transportation cost .0 $0.00 Personal care 0.00 50.00 Medical and health care 1.00 $0.00 Entertainment 0.00 $0.00 Education 0.00 $0.00 Gifts/donations .00 $0.00 Other: 0.00 $0.00 Other 0.00 $0.00 Total variable expenses $0.00 $0.00 $0.00 TOTAL EXPENSES (incl saving) 60.00 $0.00 $0.00 *Total Income should = Total expenses (excess income will be savings, excess expenses will be negative savings)* What's Next for Your Personal Financial Plan? *Evaluate the appropriateness of your budget for your current situation