Free Household Budget Plan Template
Household Budget Plan
Prepared by: [Your Name]
I. Executive Summary
This Household Budget Plan is meticulously crafted to optimize financial stability and wealth accumulation for [Client's Name] and their partner. With a comprehensive analysis of income, expenses, and savings goals, this plan serves as a strategic roadmap towards achieving both short-term and long-term financial objectives.
II. Budget Summary
-
Total Income: $8,500
-
Total Expenses: $4,680
-
Net Income: $3,820
-
Savings Rate: 45%
-
Budget Variance: $3,820
III. Income
|
Primary Income Sources |
Amount |
|---|---|
|
Salary |
$4,500 |
|
Partner's Salary |
$3,200 |
|
Additional Income |
Amount |
|---|---|
|
Freelance Work |
$500 |
|
Rental Income |
$300 |
IV. Expenses
|
Fixed Expenses |
Amount |
|---|---|
|
Housing |
$1,200 |
|
Utilities |
$250 |
|
Transportation |
$300 |
|
Insurance |
$400 |
|
Debt Repayments |
$200 |
|
Subscriptions |
$100 |
|
Other Fixed Expenses |
$80 |
|
Variable Expenses |
Amount |
|---|---|
|
Groceries |
$400 |
|
Dining Out |
$200 |
|
Entertainment |
$100 |
|
Clothing |
$150 |
|
Personal Care |
$50 |
|
Gifts/Donations |
$50 |
|
Miscellaneous |
$100 |
V. Savings Goals
|
Goals |
Amount |
|---|---|
|
Emergency Fund |
$500 |
|
Retirement Fund |
$700 |
|
Vacation Fund |
$200 |
|
Education Fund |
$300 |
|
Other Savings Goals |
$400 |
VI. Budget Analysis
|
Analysis |
Amount |
|---|---|
|
Total Income |
$8,500 |
|
Total Expenses |
$4,680 |
|
Net Income |
$3,820 |
|
Savings Rate |
45% |
|
Budget Variance |
$3,820 |
VII. Notes/Comments
[Client's Name] and his/her partner aim to save for a down payment on a new home. They plan to increase their freelance income to boost their savings rate further.
