| Excel Worksheet 3.1 Personal Financial Planner: Household Budget |
| Directions: Use this worksheet to create a budget. (1) Complete the first column by entering your actual cash flows for the most recent year in the blue-shaded cells. Your net cash flow will calculate in the peach-shaded cell at the bottom of the column. (2) In the second column (First-Pass Budget), enter the expected inflation rate (e.g., 3%). The worksheet will calculate the new values for your cash inflows and outflows and the net cash flow in the peach-shaded cells. (3) Use the third column (Final Budget) to reconcile your budget, revising the first pass to reflect other information you have or to incorporate financial decisions you have made--e.g., to save more or to cut down on certain spending categories. When you are finished making adjustments, the Net Cash Personal Flow at the bottom of the column should be zero. |
| | Actual Current-Year Cash Flows | | First-Pass Budget for Next Year | | Final Budget for Next Year |
| Expected inflation rate: | | | 3.0% |
| Expected salary increase: | | | 3.0% |
| Cash Inflows |
| After-tax income | | |
|
| Interest/dividend income | | |
|
| Rental income | | |
|
| Investment income | | |
|
| Child support and alimony | | |
|
| Other | | |
|
| Total Income | 0 | | 0 | | 0 |
| Cash Outflows |
| Groceries and eating out | | |
|
| Housing |
| Rent | | |
|
| Mortgage principal and interest | | |
|
| House repairs/expenses | | |
|
| Property taxes and insurance | | |
|
| Utilities |
| Heating | | |
|
| Electric | | |
|
| Water and sewer | | |
|
| Cable/phone/satellite | | |
|
| Car loan payments | | |
|
| Car maintenance/gas | | |
|
| Credit card payments | | |
|
| Insurance |
| Life | | |
|
| Health | | |
|
| Auto | | |
|
| Disability | | |
|
| Clothing | | |
|
| Gifts | | |
|
| Other consumer goods (e.g., TVs) | | |
|
| Child-care expenses | | |
|
| Sports-related expenses | | |
|
| Health club dues | | |
|
| Uninsured medical expenses | | |
|
| Education/training | | |
|
| College fund | | |
|
| Vacations | | |
|
| Entertainment | | |
|
| Charitable contributions | | |
|
| Non-employer retirement contributions | | |
|
| Magazine subscriptions/books | | |
|
| Other payments/expenses | | |
|
| Total Expenses | 0 | | 0 | | 0 |
| Net Personal Cash Flow | 0 | | 0 | | 0 |
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ExcelWorksheet3.1PFPHouseholdBudget.xlsx
