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Creating a Spending Plan that Works For Debt Relief TODAY, Call: 800.656.6204 The Value of Creating a Spending Plan

Do you ever find yourself saying – where did my money go? If so, you may not have a budget in place. A budget does not mean you must shop at the thrift store or live in poverty, in fact, to plan where your money will be spent will keep you living within your means and bring you a sense of comfort. In this edition we will show you exactly how to do this by creating a Spending Plan.

You may think...

But the truth is...

1. The only way you’ll solve your money problems — is to get more money.

A good Spending Plan can help solve your problems with your current income.

2. Budgeting is too complicated for you.

With good coaching, even a child can begin and maintain a Spending Plan.

3. Keeping a budget takes too much time.

Once the initial work’s done, you can maintain your Spending Plan in less than 30 seconds a transaction.

4. A budget will restrict your freedom.

Just the opposite… a Spending Plan allows you more freedom to achieve your lifetime goals

5. There are too many surprises in life for a budget to really work.

Life’s full of disruptions, that’s exactly why you must be financially prepared.

6. Later, when you’re more organized you’ll get better at budgeting your money.

Procrastinating denies you the joy and security of financial freedom.

Successful People Control their Finances and Account For their Money

You need to know THE TRUTH You may think….

The only way you’ll solve your money problems is to get more money.

But the truth is…

A good Spending Plan can help solve your problems with your current income.

They plan ahead for needed cash, and prepare for unexpected situations. In the past, you may have had difficulty controlling your finances because you lacked the tools, we would like to assist you by providing the proper tools and information you need. We have a provided you with a very useful Spending Plan Worksheet (Page 2 of this document) where you will also find detailed instructions on how to fill this out – it is very simple, it won’t take much of your time and is well worth the time you will spend filling it out. Could you imagine investing in a company that didn’t have a business plan?

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1 List INCOME & EXPENSE Categories 1) 1

Income Sources

Husband’s full-time job Wife’s full-time job Child Support

Dave’s part-time job Stock Dividends

Total Monthly Gross INCOME 1

EXPENSE Categories Pay Yourself Taxes (Total all) Wife’s Personal

Husband’s Personal

Auto

Help Fund Business Expense Children/Child Care Contribution/Charity Education

Dining Out/Fast Food

Gifts/Cards

Food/Household Items

Housing

Grooming

Leisure

Insurance

Other

Medical/Dental Payments Record Keeping/Postage Vices

Utilities

Wardrobe

DIFFERENCE

TOTAL Monthly Expenses 3

SPENDING PLAN WORKSHEET

1st Month ACTUAL

2nd Month ACTUAL

2nd Month ACTUAL

3rd Month ACTUAL

3rd Month ACTUAL

10 Monthly Plan SUMMARY 10)

1st Month ACTUAL

10 Monthly Plan-SUMMARY 10)

22) Record Actual Monthly INCOME & SPENDING

Prior Month ACTUAL

Price Month ACTUAL

3

4

5

NAME: Calculate and record the DIFFERENCE by subtracting the Total Monthly Gross Income at the bottom. Decide the TYPE of EXPENSE: Fixed, Variable, or Discretionary. Record each expense in the appropriate column and total each column.

Discretionary

44) TYPE of Expense

Variable

6

7

Determine and record your FINAL EXPENSES by subtracting or adding each Adjustment and total the column. Assign who’s responsible for paying each Final Expense, between HUSBAND and WIFE and total columns. (Skip if single.)

6

8

5

Final Expense

PAY THIS

Husband

Wife

77) Who Pays Expenses

Record the portion of Total Gross Income you receive by PAY PERIOD.

Adjustment

Make needed ADJUSTMENTS to balance your Income & Expenses. You shouldn’t adjust Fixed Expenses.

Fixed

Balance Adjusted EXPENSES with INCOME

9

10

Decide which Expenses to pay with each PAY PERIOD and total columns.

The end of each month complete a SUMMARY of your actual Income & Expenses.

Period #2

Period #3

Period #3

99) Pay Expenses by Pay Periods

Period #2

Period #4

Period #4

8 Gross Income by Pay Periods 8)

Period #1

Period #1

9 Total EXPENSE by Pay Period (Below) 9)


Creating a Spending Plan that works