Copy and print the following chart or print this page and fill in as much as you know about all your income and expenses in a monthly format.
How to calculate monthly:
If the amount is already monthly, just write the amount in the block next to the expense. Otherwise, multiply the amount times the frequency of payment (quarterly=4, semi-annual=2, etc.) to deterime yearly amount. Divide the yearly amount by 12 to determine the monthly amount.
After you listed all your information, add all your income and expenses and then subtract the total expense from your income for "The Bottom Line". If your expense is more than your income, review expenses listed and determine what can be reduced.
Remember... you must spend less than you make, or there will be a problem!