missy money Current Spend Analysis Instructions

CURRENT SPEND
ANALYSIS
GETTING STARTED WITH CASHS TUFFING

INSTRUCTIONS

1. SELECT YOUR CATEGORIES.
   Locate the SELECT YOUR CATEGORIES sheet. Select all the categories within BILLS, DEBTS, EXPENSES and SINKING FUNDS that are relevant to your budget.

2. CALCULATE YOUR CURRENT SPEND.
   Locate the CURRENT SPEND template. Record your categories.
   Enter your average monthly spend for each category. To do this accurately, gather your last month’s credit card and bank statements. You can color-code each transaction based on the category. Mark each transaction and total each category, then enter those amounts into the tool under “AMOUNT.”
   Some categories you’ve chosen may not have any spend for the past month. If this is the case, enter a zero for that category.

3. RECORD YOUR MONTHLY INCOME.
   Enter your total expected monthly income in box A. Use the following guidelines:
   If you are a monthly paid employee, enter the amount of your paycheck.
   If you are paid biweekly, enter the amount of 2 paychecks.
   If you are paid weekly, enter the amount of 4 paychecks.
   If your pay varies, calculate the average of your last 2 or 3 months of pay.
   Use your net income or take-home pay after taxes and withholdings. Exclude any bonus, overtime, or side hustle pay.

4. CALCULATE YOUR FINANCIAL OUTLOOK.
   Calculate your financial outlook (A – S1 – S2 – S3 – S4) and record on the sheet.
   If this number is positive, you currently have a surplus. If this number is negative, your starting point is a deficit. If you are starting with a spending deficit, keep in mind that you’ll need to find areas to lower your spend as you create monthly goals.

SELECT YOUR CATEGORIES

1. BILLS | SELECT UP TO 12
Bills are fixed costs that occur every month and are often paid through automatic charge or direct debit.
When selecting bills, exclude any bills that are automatically deducted from your paycheck (e.g., employer-provided health insurance).
In this bucket, only choose bills that are paid on a monthly basis. If you have bills that have a different payment frequency (e.g., quarterly, bi- annually, annually, etc.), you should set those up as sinking funds.

□ MORTGAGE
□ RENT
□ UTILITIES
□ CABLE
□ SUBSCRIPTIONS
□ GYM
□ MEMBERSHIPS
□ INTERNET
□ PHONE
□ CELL PHONE
□ INSURANCE PREMIUMS
□ MISCELLANEOUS
□ OTHER

2. DEBTS | SELECT UP TO 6

Debts are fixed costs and typically include loans, obligations with fixed payments or credit card debt that you want to pay down.
This does not include credit cards used for monthly expenses that you pay off in full each month.

□ CAR LOAN
□ STUDENT LOAN
□ PERSONAL LOAN
□ CREDIT CARD DEBT
□ MEDICAL DEBT
□ DEBT
□ MISCELLANEOUS
□ OTHER

3. EXPENSES | SELECT UP TO 1 2
Expenses are variable costs that can vary from month to month.
In this bucket, only choose expenses that typically occur on a monthly basis. If you have expenses that occur less frequently, you should set those up as sinking funds.

□ GAS
□ TRANSPORTATION
□ HEALTH & MEDICAL
□ GROCERIES
□ EATING OUT
□ FOOD DELIVERY
□ ENTERTAINMENT
□ SHOPPING
□ PET CARE
□ CHILDCARE
□ KIDS
□ KIDS ACTIVITIES
□ PERSONAL
□ SELF-CARE
□ CLOTHING
□ BEAUTY
□ GIFTS
□ DONATIONS
□ MISCELLANEOUS
□ OTHER

4. SINKING FUNDS | SELECT UP TO 1 4
Sinking funds are savings for specific needs or events. They can also be set up for larger bills or expenses that do not occur on a monthly basis.
There may be sinking funds that you don’t save for today but that you want to be part of your budget going forward. If that’s the case, you should select them.
There may be more than 14 sinking funds you would like to include. To make progress towards your savings goals, you should prioritize your top 14, but you can always add a new sinking fund category in a future month.

□ EMERGENCY
□ RETIREMENT
□ INVESTMENTS
□ HOME MAINTENANCE
□ NEW HOME
□ PROPERTY TAXES
□ FURNITURE & DECOR
□ CAR MAINTENENCE
□ NEW CAR
□ INSURANCE PREMIUMS
□ INCOME TAXES
□ TAXES| □ BABY
□ WEDDING
□ VACATION
□ HOLIDAYS
□ CHRISTMAS
□ EVENTS
□ SPECIAL OCCASION
□ GIFTS
□ DONATIONS
□ SCHOOL
□ SCHOOL SUPPLIES
□ COLLEGE| □ PERSONAL
□ SELF-CARE
□ CLOTHING
□ HEALTH & MEDICAL
□ MEMBERSHIPS
□ SUBSCRIPTIONS
□ PET CARE
□ KIDS
□ KIDS ACTIVITES
□ ONE MONTH AHEAD
□ MISCELLANEOUS
□ OTHER
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CURRENT SPEND ANALYSIS

BILLS

DEBTS

EXPENSES

SINKING FUNDS

FINANCIAL OUTLOOK

A – S1 – S2 – S3 – S4|
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clear MIND.
LIFE. happy

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References

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