Sample Personal Monthly Budget

Below is a sample budget illustrating the principles described on the previous page:

Budget
Income
Gross Monthly Income	$2,600
Taxes	$650
Tithe	$260
Net Monthly Income	$1,690
Expenses	(Alphabetically)
Auto
Fuel	$80
Maintenance	$20
Insurance	$60
Car Payment	$0
Clothing	$50
Entertainment	$50
Gifts
Anniversaries	$10
Birthdays	$10
Christmas	$40
Miscellaneous	$10
Groceries	$260
Housing	$623
Life Ins.	$24
Missions
Missions	$40
Building	$25
Personal Care	$50
Savings	$85
Supplies	$65
Utilities
Electric	$75
Garbage	$10
Natural Gas	$55
Telephone	$20
Water	$25
Total	$1,687

Guidelines for a Personal Budget

I.        Principles dealing with finances.

        A.        Use a written plan.

        B.        Provide for the Lord's work first.

        C.        Excel at your tasks.

        D.        Limit credit.

        E.        Think about buying:

        Is it necessary?

        Does it reflect your Christian ethic?

        Is it the best buy?

        Is it an impulse item?

        F.        Practice saving money regularly.

        G.        Set your own goals.

        H.        Get out of debt.

        I.        Avoid indulgences.

        J.        Seek good Christian counsel.

        K.        Stick to your plans.

II.        Purpose of a budget.

        A.        To define income vs. expense.

        B.        To detect problem areas.

        C.        To provide a written plan.

        D.        To aid in follow-up.

        E.        To schedule money in and out.

III.        What a budget will do.

        A.        Help you visualize your goals.

        B.        Provide a written reminder.

        C.        Reflect your habits.

VI.        What a budget will not do.

        A.        Solve your immediate problems.

        B.        Make you use it.

        C.        Take the place of action.

V.        How to:

        A.        Calculate actual expenses.

        Use a thirty-day expense diary (notebook).

        Use a checking account ledger.

        Use a creditor ledger showing each debt due.

        B.        Make out a budget.

        Define actual expenditures (present budget).

        Define proposed expenditures (future budget).

        Calculate income.

        Calculate fixed expenses.

        Calculate variable expenses.

        C.        Use a budget.

        Post it in the open.

        Set an achievable goal.

        Keep it up-to-date and establish a set time and day to review it.