NewlywedFinances.comBasic Financial Planning for Newlyweds |
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Example of a Completed Monthly Cash Flow Budget(Click Here for a Template for Your Monthly Cash Flow Budget)
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Monthly Inflows
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Total |
Employer #1 |
Employer #2 |
Employer #3 |
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Salaries: |
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Gross monthly salary |
13,000 |
6,500 |
6,500 |
-0- |
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Federal taxes withheld |
(2,860) |
(1,430) |
(1,430) |
-0- |
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Social security (FICA) taxes withheld |
(806) |
(403) |
(403) |
-0- |
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Medicare taxes withheld |
(189) |
(94) |
(94) |
-0- |
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State taxes withheld |
(715) |
(358) |
(358) |
-0- |
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401(k)/403(b) withheld |
(1,000) |
(500) |
(500) |
-0- |
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Dependent care expenses withheld |
(433) |
(433) |
-0- |
-0- |
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Medical/dental insurance withheld |
(200) |
(100) |
(100) |
-0- |
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Pre-tax medical/dental expenses withheld |
-0- |
-0- |
-0- |
-0- |
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Parking/Mass transit withheld |
-0- |
-0- |
-0- |
-0- |
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Other payroll deductions |
-0- |
-0- |
-0- |
-0- |
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Net monthly pay check |
6,798 |
3,182 |
3,616 |
-0- |
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Self-employment income: |
Total |
Business #1 |
Business #2 |
Business #3 |
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Gross monthly collections |
1,250 |
1,250 |
-0- |
-0- |
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Applicable business expenses |
(300) |
(300) |
-0- |
-0- |
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Net self-employment income |
950 |
950 |
-0- |
-0- |
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Federal taxes and SE taxes set aside |
(350) |
(350) |
-0- |
-0- |
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State taxes set aside |
(105) |
(105) |
-0- |
-0- |
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Retirement plan contributions |
-0- |
-0- |
-0- |
-0- |
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Net monthly cash flow from business |
495 |
495 |
-0- |
-0- |
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Other inflows: |
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Gross rental income (if you own a multi-family) |
-0- |
-0- |
-0- |
-0- |
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Net rental income (if you own other rental real estate) |
-0- |
-0- |
-0- |
-0- |
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Investment income (not re-invested) |
-0- |
-0- |
-0- |
-0- |
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Total other cash flows |
-0- |
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TOTAL MONTHLY INFLOWS
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7,293 |
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Monthly Outflows
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Auto expenses: |
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Loan/lease |
400 |
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Fuel/maintenance/repairs |
50 |
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Insurance |
100 |
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Parking (at home) |
-0- |
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Total auto expenses |
550 |
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Children: |
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Clothing, toys, babyfood, & diapers |
100 |
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Childcare (in excess of amounts withheld from salary) |
750 |
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Total children |
850 |
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Home expenses: |
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Mortgage (minimum payment)/rent |
1,500 |
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Cleaning |
100 |
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Home repair/supplies |
100 |
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Utilities: cable, gas/electric, water & telephone |
250 |
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Total home expenses |
1,950 |
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Other expenditures: |
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Clothing |
100 |
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Dining and entertainment |
150 |
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Dry cleaning |
25 |
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Gifts |
25 |
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Groceries |
300 |
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Health & beauty |
50 |
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Insurances - life & disability |
150 |
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Medical & insurance (in excess of amounts withheld) |
50 |
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Total other expenditures |
850 |
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Minimum Debt Payments: |
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Equity loan |
250 |
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Student loans |
350 |
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Credit card |
200 |
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Total minimum debt payments |
800 |
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TOTAL MONTHLY INFLOWS
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5,000 |
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NET MONTHLY SURPLUS/(DEFICIT)
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2,293 |
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