A Formula for Financial Freedom (6 of 6)

FORMULA FOR FINANCIAL FREEDOM – BUDGET WORKSHEET


GENEROSITY = GROSS – (Tithe + Tax + Thrift + Tally + Treat)


GROSS (wages + tips + allowance + gifts + etc.) = __________
TAXES = __________


NET 1 – “Take home pay” – available to spend after taxes (GROSS – TAXES) = __________


TITHE – percentage devoted to God (GROSS x .10) = __________
THRIFT/D.I.P.S – percentage set aside for a thriving future (GROSS x .10) = __________

• DEBT REPAYMENT (THRIFT/4) = __________
• INVESTMENT SAVINGS (THRIFT/4) = __________
• PURCHASES (THRIFT/4) = __________
• SAVINGS (THRIFT/4) = __________

NET 2 – Available to spend on TALLY, TREAT & GENEROSITY (NET 1 – (TITHE + DIPS)) = __________

TALLY – every dollar spent on bills and expenses during the month = __________

• Housing (Rent/Mortgage + Renter’s/Homeowners Insurance) = __________
• Utilities (electricity + gas + water + trash + phone + cable + internet + cell) = __________
• Food (groceries + eating out) = __________
• Car (payment +insurance + gas + maintenance/repairs) = __________
• Health (medical/dental/vision/life insurance +prescription + co-pays + gym membership) = __________
• Personal (hair care + childcare + child support +etc.) = __________
• Household (laundry + household supplies + misc.) = __________
• Education (tuition +fees +parking + books +lab) = __________
• Debts (credit cards + student loans + etc.) = __________
  

NET 3 – available to spend on TREAT and GENEROSITY (NET2 –TALLY) = __________

TREAT – desired to spend on personal enjoyment = __________

• Clothing = __________
• Beauty (nails + etc.) = __________
• Entertainment (movies + gaming + theatre + concert + etc.) = __________

GENEROSITY – available to give to others (NET3 – TREAT) = __________

• Gifts (birthdays + holidays + special occasions) = __________
• Charitable Giving (ministries + missions + organizations) = __________