The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.
- monthly income
- Take Home Pay
- Child Support/Alimony
- Pension/Social Security
- Disability/Other Insurance
- Interest/Dividends
- Other
- total income
- monthly expenses
- Rent/Mortgage (include taxes, principal, and insurance)
- Insurance (life, auto, health, disability)
- Car Payments
- Other Loan Payments
- Savings/401k Contributions
- Utilities (gas/water/electric/phone)
- Credit Card Payments
- Car Gas/Maintenance
- Clothing
- Personal Care
- Groceries
- Eating Out
- Medical/Dental Expenses and Prescriptions
- Household Goods and Upkeep (hardware, lawn, garden)
- Entertainment and Travel
- Child Care
- Educations
- Charitable Donations
- Miscellaneous
- Total Expenses
- Remaining Income After Expenses = ___________
- (Subtract Total Income from Total Expenses)