Landlord Expenses Spreadsheet – Worksheet for personal budget
This “Make a Budget” worksheet from the Federal Trade Commission helps to assess which expenditures are flexible and which are fixed. Use the spreadsheet for at least two or three consecutive months. This will give you a sense of how you spend your money and what changes you can make to improve your situation.
The following is a brief overview of the two types of expenses, which will help you get started:
Fixed expenses are those items that you have little or no control over.
You pay each month a fixed amount for these expenses.
Remember, you have some control over certain expenses before signing a contract, for example a short-term loan or payday loan, car loan, or mortgage. You should look for the best value before you commit to paying.
- Medical insurance, car insurance, life insurance and homeowner or renter’s insurance.
- Rent or mortgage
- Car loan or loan payment
- Flexible expenses
Flexible expenses are those you can control.
When considering flexible spending, keep in mind what you need and what you want. Is it a discretionary need or expense? This will help you control your expenses in this category.
What are some of the ways you can control costs related to these expenses?
Also, be sure to pay yourself first. Reserve money from each salary and separate it to save.
- Groceries, coffee or restaurants
- Public services
- Gasoline, Internet, cable, telephone or cell phone
- Car or home repair
- Activities or hobbies
- Emergency savings
If you are having trouble paying your mortgage or other bills, consult a HUD-certified housing counselor at (888) 995-HOPE. Housing counselors can help you contact and work with your lender to get help with your mortgage, as well as give you free advice on budgeting and credits.