Real Estate

Budget Worksheet

Do you have a budget?  Do not start looking at homes to buy until you have one!  Here is a sample budget I give to my buyers to get them ready for home ownership.  With our economy the way it is, this is good for everyone to fill out whether you are already in a home, renting, or looking to buy.  I hope you find this helpful.  This is something I like to revisit several times a year to keep my spending in check.

 

 

Monthly Expenses

HOME
(only fill in this section for expenses that will continue after purchasing next home)
examples: rental property or vacation home
Mortgage/Rent            ____________
Second Mortgage        ____________
Taxes & Insurance      ____________
Repairs                        ____________
Association Fees          ____________

UTILITIES
Electric                       ____________
Gas or Oil                   ____________
Water & Sewer          ____________
Phone (Landline)        ____________
Phone (Cellular)         ____________
Cable/Satellite           ____________
Internet                      ____________

 

TRANSPORTATION
Car Payment 1          ____________
Car Payment 2          ____________
Gas                            ____________
Car Insurance            ____________
Repairs/Maintenance ____________
Other Transportation ____________
(tolls, taxis, parking, subway, bus)

INSURANCE
Life Insurance            _____________
Disability                    _____________
Health Insurance        _____________

DEBT PAYMENTS
Credit Card 1              _____________
Credit Card 2              _____________
Credit Card 3               _____________
Student Loans             _____________
Other Loans                _____________

FOOD
Groceries                   _____________
Eating Out                 _____________

FAMILY EXPENSES
Day Care                    ______________
Child Support             ______________
Alimony                      ______________
School Tuition             ______________

PERSONAL CARE
Hair Cuts                    ______________
Prescription Meds.      ______________
Toiletries/Make Up      ______________
Clothing                       ____________

PETS
Food                               ______________
Care (vet, grooming, etc.) _____________

ENTERTAINMENT
Vacation                         _______________
Books & Magazines        _______________
Movies/Concerts             _______________
Hobbies                          _______________
Other:                            _______________

OTHER
Cleaning Supplies             _______________
Tithes/Donations               _______________

SAVINGS
(Money you take out of your income each month to contribute to separate account)
Stocks/Retirement              _______________
Savings Account                 _ _____________

TOTAL EXPENSES               ___________

Income
Salary                              _______________
Spouse Salary                  _______________
Child Support                  _______________
Alimony                           _______________
Disability                         _______________
Bonus                             _______________
Other                               _______________

TOTAL INCOME         ___________

_________________ — _________________ = ___________________ r>TOTAL INCOME — TOTAL EXPENSES = BUDGET FOR NEW HOME EXPENSES
(Mortgage, Taxes, Insurance, Maintenance, Association Fees)