Allocated Spending Plan

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This form, you will allocate — or spend — all of your money from each individual pay period.

This form contains four columns, representing the four weeks in a given month. You will use one column for each week you get paid (1 column if you get paid monthly, 2 if bi-weekly, or all for if you get paid every week). If you are married and your spouse earns an income, then you will both use this same form. For weeks in which you both receive a paycheck, simply add those two incomes together and use a single column. Be sure to write the pay date at the top of the column.

Next, go down the list and allocate each expense to a specific payday, using your bills’ due dates as a guide. For example, if your phone bill is due on the 22nd and you get paid on the 15th and 30th, then you know that you would probably pay that bill from your income on the 15th. Some things, like utility bills, will be paid monthly, while other items, such as food and gasoline, could be weekly. The point here is to anticipate both your upcoming expenses and your upcoming income and plan accordingly.

Beside each line item, you’ll see two blanks separated by a slash ( / ). Put the expense to the left of the slash and the remaining income from that pay period to the right of the slash. As you work your way down the column, the income remaining should diminish until you reach a perfect zero at the bottom of the list. If you have money left over at the end of the column, go back and adjust an area, such as savings or giving, so that you spend every single dollar.

This level of detail may be uncomfortable to you at first, but the payoff is worth it. By specifically “naming” every dollar before you actually get it in your hands, you will remove an incredible amount of stress and curb your overspending.

NOTES:

  • If you have an irregular income, such as self-employment or commissions, you should use a “Irregular Income Planning” sheet instead of this “Allocated Spending Plan.”
  • If you know that you have an impulse spending problem, then you may want to allocate more money to the “Blow” category. That way, you are at least planning for it and setting up some boundaries for yourself.
  • If you use The Envelop System, an asterisk ( * ) beside an item indicates an area for which you should have an envelope.
  • If you are using sinking funds, a pulse ( + ) beside an item indicates an area were such a fund may be helpful.

Allocated Spending Sheet[edit]

   PAY PERIOD:          ____ /____   ____ /____   ____ /____   ____ /____

ITEM:

INCOME                  ____ /____   ____ /____   ____ /____   ____ /____

CHARITABLE              ____ /____   ____ /____   ____ /____   ____ /____

SAVING
   Rainy Day Fund       ____ /____   ____ /____   ____ /____   ____ /____
   Retirement Fund      ____ /____   ____ /____   ____ /____   ____ /____
   College Fund         ____ /____   ____ /____   ____ /____   ____ /____
   +Other _______       ____ /____   ____ /____   ____ /____   ____ /____
 
HOUSING
   First Mortgage       ____ /____   ____ /____   ____ /____   ____ /____
   Second Mortgage      ____ /____   ____ /____   ____ /____   ____ /____
   +Real Estate Taxes   ____ /____   ____ /____   ____ /____   ____ /____
   Homeowner’s Ins.     ____ /____   ____ /____   ____ /____   ____ /____
   +Repairs or Mn.      ____ /____   ____ /____   ____ /____   ____ /____
   +Replace Furniture   ____ /____   ____ /____   ____ /____   ____ /____
   +Other _______       ____ /____   ____ /____   ____ /____   ____ /____

UTILITIES
   Electricity          ____ /____   ____ /____   ____ /____   ____ /____
   Water                ____ /____   ____ /____   ____ /____   ____ /____
   Gas                  ____ /____   ____ /____   ____ /____   ____ /____
   Phone                ____ /____   ____ /____   ____ /____   ____ /____
   Trash                ____ /____   ____ /____   ____ /____   ____ /____
   Cable                ____ /____   ____ /____   ____ /____   ____ /____

*FOOD
   *Grocery             ____ /____   ____ /____   ____ /____   ____ /____
   *Restaurants         ____ /____   ____ /____   ____ /____   ____ /____

TRANSPORTATION
   Car Payment 1        ____ /____   ____ /____   ____ /____   ____ /____
   Car Payment 2        ____ /____   ____ /____   ____ /____   ____ /____
   *Gas and Oil         ____ /____   ____ /____   ____ /____   ____ /____
   *+Repairs and Tires  ____ /____   ____ /____   ____ /____   ____ /____
   Car Insurance        ____ /____   ____ /____   ____ /____   ____ /____
   License and Taxes    ____ /____   ____ /____   ____ /____   ____ /____
   +Car Replacement     ____ /____   ____ /____   ____ /____   ____ /____

*CLOTHING
   *Children            ____ /____   ____ /____   ____ /____   ____ /____
   *Adults              ____ /____   ____ /____   ____ /____   ____ /____
   *Cleaning/Laundry    ____ /____   ____ /____   ____ /____   ____ /____

MEDICAL/HEALTH
   Disability Insurance ____ /____   ____ /____   ____ /____   ____ /____
   Health Insurance     ____ /____   ____ /____   ____ /____   ____ /____
   +Health Savings Acc. ____ /____   ____ /____   ____ /____   ____ /____
   *Doctor (co-pays)    ____ /____   ____ /____   ____ /____   ____ /____
   *Dentist             ____ /____   ____ /____   ____ /____   ____ /____
   *Optometrist         ____ /____   ____ /____   ____ /____   ____ /____
   *Medications         ____ /____   ____ /____   ____ /____   ____ /____

PERSONAL
   Life Insurance       ____ /____   ____ /____   ____ /____   ____ /____
   Child Care           ____ /____   ____ /____   ____ /____   ____ /____
   *Baby Sitter         ____ /____   ____ /____   ____ /____   ____ /____
   *Toiletries          ____ /____   ____ /____   ____ /____   ____ /____
   *Cosmetics           ____ /____   ____ /____   ____ /____   ____ /____
   *Hair Care           ____ /____   ____ /____   ____ /____   ____ /____
   Education/Adult      ____ /____   ____ /____   ____ /____   ____ /____
   +School Tuition      ____ /____   ____ /____   ____ /____   ____ /____
   School Supplies      ____ /____   ____ /____   ____ /____   ____ /____
   Child Support        ____ /____   ____ /____   ____ /____   ____ /____
   Alimony              ____ /____   ____ /____   ____ /____   ____ /____
   Subscriptions        ____ /____   ____ /____   ____ /____   ____ /____
   Organization Dues    ____ /____   ____ /____   ____ /____   ____ /____
   Gifts                ____ /____   ____ /____   ____ /____   ____ /____ 
   +Christmas           ____ /____   ____ /____   ____ /____   ____ /____
   Miscellaneous        ____ /____   ____ /____   ____ /____   ____ /____
   *BLOW $$             ____ /____   ____ /____   ____ /____   ____ /____

RECREATION
   *Entertainment       ____ /____   ____ /____   ____ /____   ____ /____
   +Vacation            ____ /____   ____ /____   ____ /____   ____ /____

DEBTS (Hopefully -0-)
   Visa 1               ____ /____   ____ /____   ____ /____   ____ /____
   Visa 2               ____ /____   ____ /____   ____ /____   ____ /____
   MasterCard 1         ____ /____   ____ /____   ____ /____   ____ /____
   MasterCard 2         ____ /____   ____ /____   ____ /____   ____ /____
   American Express     ____ /____   ____ /____   ____ /____   ____ /____
   Discover Card        ____ /____   ____ /____   ____ /____   ____ /____
   Gas Card 1           ____ /____   ____ /____   ____ /____   ____ /____
   Gas Card 2           ____ /____   ____ /____   ____ /____   ____ /____
   Dept. Store Card 1   ____ /____   ____ /____   ____ /____   ____ /____
   Dept. Store Card 2   ____ /____   ____ /____   ____ /____   ____ /____
   Finance Co. 1        ____ /____   ____ /____   ____ /____   ____ /____
   Finance Co. 2        ____ /____   ____ /____   ____ /____   ____ /____
   Credit Line          ____ /____   ____ /____   ____ /____   ____ /____
   Student Loan 1       ____ /____   ____ /____   ____ /____   ____ /____
   Student Loan 2       ____ /____   ____ /____   ____ /____   ____ /____
   Other _______        ____ /____   ____ /____   ____ /____   ____ /____
   Other _______        ____ /____   ____ /____   ____ /____   ____ /____



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