Personal Budget Plan

Prepared by: [YOUR NAME]

Date: [DATE]

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I. Overview

This Personal Budget Plan is designed to help me track my income and expenses every month. By diligently following this plan, I aim to ensure financial stability and achieve my financial goals.

II. Income

Source	Amount ($)
Salary	4000
Freelance Income	500
Other Income	100
Total	4600

III. Fixed Expenses

Expense	Amount ($)
Rent/Mortgage	1200
Utilities	150
Insurance	100
Transportation	200
Debt Payments	300
Other	200
Total	2150

IV. Variable Expenses

Expense	Amount ($)
Groceries	300
Dining Out	200
Entertainment	100
Shopping	150
Healthcare	50
Miscellaneous	100
Total	900

V. Savings and Investments

Account	Amount ($)
Emergency Fund	500
Retirement Fund	300
Other Goals	200
Total	1000

VI. Financial Goals

1. Short-Term Goals (0-1 year):

   • Save $1000 for vacation

2. Medium-Term Goals (1-5 years):

   • Save $5000 for a home down payment

3. Long-Term Goals (5+ years):

   • Save $10000 for retirement

VII. Budget Summary

• Total Income: $4,600

• Total Expenses: $3,050

• Savings and Investments: $1,000

• Net Balance: $1,550

VIII. Action Plan

1. Review and adjust the budget monthly.

2. Identify and eliminate unnecessary expenses.

3. Increase savings and investment contributions as income grows.

4. Monitor progress towards financial goals regularly.

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