4. Developing a Personal Budget Purpose: To compare projected and actual spending for a one- (or three-) month period.

Financial Planning Activities: Estimate projected spending based on your cash flow statement, and maintain records for actual spending for these same budget categories. This sheet is also available in an Excel spreadsheet format in Connect Finance.

Suggested Websites: www.betterbudgeting.com, www.asec.org, www.mymoney.gov

What’s Next for Your Personal Financial Plan?
Evaluate the appropriateness of your budget for your current life situation.
Assess whether your budgeting activities are helping you achieve your financial goals.

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Income Salary Other Total income Expenses Fixed expenses Mortgage or rent Property taxes Loan payments Insurance Other Total fixed expenses Emergency fund/savings Emergency fund Savings for Savings for Total savings Budgeted amounts Dollar Actual Percent amounts Variance 100%