Christian finance and consumer credit counseling & debt management
Bible Based Budgeting
Budget Work Sheets
Use these worksheets to get started with your won budget. Some people will have different/more/less expenses than others, you can customize the sheets to display fields that pertain to your finances.
Proverbs 16:2-4
2 All a man's ways seem innocent to him,
but motives are weighed by the LORD.
3 Commit to the LORD whatever you do,
and your plans will succeed.
4 The LORD works out everything for his own ends
Work Sheet 1: Identify your objectives
Use this sheet to identify your objectives. These objectives can concern different aspects of your life, for example: family, leisure, work, school, finances,
etc.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Work Sheet 2: Prioritize your objectives
With limited resources, the reality is that you have to make choices about what you can and cannot afford. Use this sheet to prioritize your most important
objectives from Work Sheet 1. Also, indicate whether they are short-, medium- or long-term goals.
1
short term ◊
medium term ◊
long term ◊
2
short term ◊
medium term ◊
long term ◊
3
short term ◊
medium term ◊
long term ◊
4
short term ◊
medium term ◊
long term ◊
5
short term ◊
medium term ◊
long term ◊
6
short term ◊
medium term ◊
long term ◊
7
short term ◊
medium term ◊
long term ◊
8
short term ◊
medium term ◊
long term ◊
9
short term ◊
medium term ◊
long term ◊
10
short term ◊
medium term ◊
long term ◊
Work Sheet 3: Find a way to reach your objectives
Now that you know what you want, you must determine how to get there. In fact, identifying and prioritizing your objectives is not enough. You need a game
plan.
Objective 1
What resources do I need to reach this objective?
What can I do starting today to try and reach this objective?
Objective 2
What resources do I need to reach this objective?
What can I do starting today to try and reach this objective?
Objective 3
What resources do I need to reach this objective?
What can I do starting today to try and reach this objective?
Objective 4
What resources do I need to reach this objective?
What can I do starting today to try and reach this objective?
Objective 5
What resources do I need to reach this objective?
What can I do starting today to try and reach this objective?
Work Sheet 4: Budget Month of ______________
Monthly Income
Anticipated
Real
Net income 1
Net income 2
Commission
Bursary
Student loans
Interest, dividends
Tax return
Child support or family allowance
Parental contribution
Other revenues
Total monthly income
$
$
Work Sheet 5: Monthly Expenditures
Fixed Expenditures
Anticipated
Real
Rent or mortgage
Water
Telephone
Electricity
Heating
Cable or satellite
Internet
Loan reimbursement
Savings
Other
Service contracts (housekeeping, etc.)
Other
Total fixed expenditures
$
$
Work Sheet 6: Irregular Expenditures
Anticipated
Real
Tuition fees
Taxes (municipal, school, water)
Car insurance
Vehicle registration
Driver's license
Other insurance (life, health, home, etc.)
Memberships
Other
Total irregular expenditures
$
$
Work Sheet 7: Variable Expenditures
Anticipated
Real
Food
Groceries
Restaurant
Convenience store/school cafeteria
Transportation
Gas
Vehicle maintenance and repair
Parking
Public transportation
Books and school supplies
Clothes and accessories
Laundromat and cleaning
Health care
Medical costs (medication)
Dental care
Personal care
Personal hygiene products
Haircuts
Other
Telephone (cellular or long distance)
Furniture
Leisure
Alcohol and cigarettes
Newspapers, magazines, books, DVD & videotapes
Movie theatre, plays, etc.
Sports (memberships, equipment, etc.)
Music (instruments, CDs, etc.)
Vacations
Trips
Other
Pets (food, veterinarian, etc.)
Gifts
Donations and contributions
Other
Total variable expenditures
$
$
Total monthly expenditures
$
$
Work Sheet 8: Total monthly income
$
$
Total monthly expenditures
–
$
$
Surplus or Deficit
=
$
$
Fixed expenditures
Fixed expenditures are the expenses that change very little.
Savings
In order to achieve your objectives, you must save. This is why it is important to consider savings as a budget item on the same basis as the others. Of course,
not all students can save. However, remember that it is to your advantage to start saving early, even if it is a small amount.
Net income
The income indicated in your budget should always be your net income. Net income is your income after taxes and other deductions.
Student loans
Student loans are an important source of revenue for several students. Remember that student loans have to be paid back.
Variable expenditures
These expenses vary from one month to the other. In case of a cash crunch, it is these budget items that you might have to change.
Irregular expenditures
Certain expenses only occur a few times a year. That's why they are called irregular expenditures, even though their amounts may be predictable.
How to make a budget?
Follow the six steps below in creating your budget.
Join a club. Search through the categories
above for a club that matches your interests. Click on that club
name, then on the "join" link in the upper-right-hand side of the
page. More help.
Create a club. Find a category that matches your club, then click on "Create a Club" in the upper-right-hand side of the page. More help.
Budget Work Sheets
