Use the worksheet below to list your expenses. Decide if the expense is non-discretionary or discretionary.
Non-Discretionary Expenses are expenses you must pay, you have no choice. This includes: taxes, statutory deductions from your paycheck like child support, spousal support, health insurance and required union dues.
Discretionary Expenses are optional, you choose them. They include family expenses like food, housing, and clothing, as well as car insurance, activity fees, school expenses, entertainment, and travel. Things like food and shelter are not optional, but you choose what you eat and where you live.
| Expense | Monthly Amount | Discretionary | Non-Discretionary |
|---|---|---|---|
| Income tax | |||
| Pension contribution | |||
| Employment Insurance | |||
| Union dues | |||
| Life Insurance | |||
| Health Insurance | |||
| Child support payment | |||
| Spousal/Partner support payment | |||
| Housing | |||
| Rent/mortgage | |||
| Property taxes | |||
| Insurance | |||
| Maintenance | |||
| Utilities | |||
| Cable/Phone/Internet | |||
| Furnishings | |||
| Pet care | |||
| Miscellaneous | |||
| Food | |||
| Clothing | |||
| Transportation | |||
| Car loan/lease | |||
| Insurance | |||
| Gas | |||
| Maintenance | |||
| Personal care | |||
| Child care | |||
| Allowances | |||
| Gifts | |||
| Vacations | |||
| Tuition fees | |||
| Recreation/entertainment | |||
| Cash | |||
| Savings/investment | |||
| Education savings | |||
| Donations | |||
| Personal loan payments | |||
| Credit card payments | |||
| Professional fees | |||
| TOTAL EXPENSES |