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Example of a Completed Savings & Debt Reduction Budget (Click Here for a Template for Your Savings & Debt Reduction Budget)

Description of Savings/debt Reduction Goal	Targeted Balance	Amount Saved/Owed	Desired Completion Date	(1) Minimum/ Automatic Monthly Payments	(2) Extra Monthly Payments
Short-term savings:
Vacation	5,000	3,150	1 yr left on 3 yrs	-0-	131
Down payment on 2nd home	30,000	11,850	8 yrs left on 15 yrs	-0-	123
Emergency savings	4,000	4,000	Completed	-0-	-0-
Long-term non-retirement savings:
Education funding	260,000	35,000	15 yrs left	-0-	442
Unallocated savings	AMAP	50,000	Ongoing	-0-	300
Retirement savings:
401(k) plan	AMAP	75,000	25 yrs left	500	-0-
403(b) plan	AMAP	50,000	25 yrs left	500	-0-
Roth IRA	AMAP	5,000	25 yrs left	-0-	166
Mortgages, student loans, credit cards, and other debts:
Mortgage	-0-	175,000	15 yrs	1,500	180
Equity loan	-0-	25,000	8 yrs	250	117
Student loan	-0-	35,000	ASAP	350	590
Credit card	-0-	5,000	1 yr	200	244
TOTAL EXPENDITURES ALLOCATED TO SAVINGS AND/OR DEBT REDUCTION				3,300	2,293
				===========	===========

(1) Amounts in this column should equal amounts reflected on the Monthly Cash Flow Budget

(2) The total of this column should equal the projected surplus per the Monthly Cash Flow Budget

AMAP stands for "as much as possible"

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