The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.
| INCOME | | | Take Home Pay (all family members) | | | Child Support/Alimony | | | Pension/Social Security | | | Disability/Other Insurance | | | Interest/Dividends | | | Other | | | Total Income | | | EXPENSES | | | Rent/Mortgage (include taxes, principal, and insurance) | | | Life Insurance | | | Health/Disability Insurance | | | Vehicle Insurance | | | Homeowner’s or Other Insurance | | | Car Payments | | | Other Loan Payments | | | Savings/Pension Contribution | | | Utilities (gas, water, electric, phone) | | | Credit Card Payments | | | Car Upkeep (gas, maintenance, etc.) | | | Clothing | | | Personal Care Products (shampoo, cologne, etc.) | | | Groceries | | | Food Outside the Home (restaurant meals and carryout) | | | Medical/Dental/Prescriptions | | | Household Goods (hardware, lawn, and garden) | | | Recreation/Entertainment | | | Child Care | | | Education (continuing education, classes, etc.) | | | Charitable Donations | | | Miscellaneous | | | Total Expenses | | Remaining Income After Expenses
(Subtract Total Income from Total Expenses) | |
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