Budgeting is the key to your financial success. You have to know what you are doing with your money.

Housing: How much do you spend on housing each month?  (Include rent/mortgage, taxes, insurance, utilities (electricity, gas, water, telephone, etc.), and repairs/upkeep)

Food: What are your expenses at the grocery store, restaurants, etc.?  This includes anything consumed for food and beverage.

Clothing: What is your average amount spent on clothes (Includes shoes, coats, and anything else you wear? Don’t forget about back-to-school spending, or clothes for holidays, special events, etc!

Transportation: Include your car payments, license, insurance, gas, oil, repairs, etc.  Or this may be bus fare, taxis, etc.

Health Care: List health insurance payments, bills for physician, dentist, hospital, optician, prescriptions, etc.  Remember to take an average of what your annual bills would be.

Miscellaneous: Include all other living expenses (e.g.: life insurance, charitable contributions, entertainment, etc.).  Make sure this doesn’t include things listed above.

Request a free copy of our budget worksheet by emailing mike@mikeshovan.com.

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