STEP THREE: Household Budget Draw up a budget for monthly expenditures detailing how this family lives. Use estimates of costs based on your own expenses of living in this area. CATEGORIES MONTHLY AMOUNT Wages & Bonuses INCOME Miscellaneous Income INCOME SUBTOTAL $2,312.50/mo (=$27,750/0) EXPENSES Mortgage or Rent HOME Home Repairs/Maintenance Electricity Water & Shower UTILITIES Natural Gas or Oil Telephone (Land line, Cell) Groceries FOOD Eating Out, Lunches, Snacks FAMILY Child Support/Alimony OBLIGATIONS Day Care, Babysitting Insurance (medical, dental, vision) HEALTH & MEDICAL Out-of-pocket Medical Expenses W N Fitness (Yoga,gym, etc.) Car Payments WMA Gasoline/Oil TRANSPORTATION Auto Repairs/Maintenance/Fees W A Auto Insurance Other (tolls, bus, subway, taxi) W MA Credit Cards W N DEBT PAYMENTS Student Loans Other Loans Cable TV/Videos/Movies ENTERTAINMENT & RECREATION Computer Expense Hobbies Vacations Food S PETS Grooming, Boarding, Vet Children's Clothing CLOTHING Adult's Clothing 401(K) or IRA L INVESTMENTS & Savings SAVINGS Emergency Fund . Toiletries, Household Products Gifts/Donations MISCELLANEOUS Grooming (hair, makeup, other) Miscellaneous Expenses EXPENSES SUBTOTAL INCOME SUBTOTAL SURPLUS/SHORTAGE STEP THREE: Household Budget Draw up a budget for monthly expenditures detailing how this family lives. Use estimates of costs based on your own expenses of living in this area. CATEGORIES MONTHLY AMOUNT Wages & Bonuses INCOME Miscellaneous Income INCOME SUBTOTAL $2,312.50/mo (=$27,750/0) EXPENSES Mortgage or Rent HOME Home Repairs/Maintenance Electricity Water & Shower UTILITIES Natural Gas or Oil Telephone (Land line, Cell) Groceries FOOD Eating Out, Lunches, Snacks FAMILY Child Support/Alimony OBLIGATIONS Day Care, Babysitting Insurance (medical, dental, vision) HEALTH & MEDICAL Out-of-pocket Medical Expenses W N Fitness (Yoga,gym, etc.) Car Payments WMA Gasoline/Oil TRANSPORTATION Auto Repairs/Maintenance/Fees W A Auto Insurance Other (tolls, bus, subway, taxi) W MA Credit Cards W N DEBT PAYMENTS Student Loans Other Loans Cable TV/Videos/Movies ENTERTAINMENT & RECREATION Computer Expense Hobbies Vacations Food S PETS Grooming, Boarding, Vet Children's Clothing CLOTHING Adult's Clothing 401(K) or IRA L INVESTMENTS & Savings SAVINGS Emergency Fund . Toiletries, Household Products Gifts/Donations MISCELLANEOUS Grooming (hair, makeup, other) Miscellaneous Expenses EXPENSES SUBTOTAL INCOME SUBTOTAL SURPLUS/SHORTAGE