Budgeting Basics

We Have Helpful Resources Available

Here are some sample forms to help you make a budget. Many financial advisors will stress budgeting and a regular review of your household budget so you can stay organized and pay bills on time. These forms will help you get a better idea of where your money is going each month. They will also help us get a clear understanding of your finances and help us determine the best solution for your financial hardship.

Expense Worksheet: Use this form to break down all of your monthly household expenses by category. Take some time to make sure everything is listed. You may need to review bank statements and credit card statements over the past few months. Then, see how the total expenses compares to how much money you bring in each month (income). This will tell you how much discretionary income you have to go towards your outstanding bills and savings. You can fill out your expenses directly onto the form – there is no need to print it. 

Sample Profit and Loss: This form is for business owners to see whether your business is financially healthy. Use the past six full months as a guide and enter your income and business expenses (no personal expenses, as they go on the Expense Worksheet above). You do not need any accounting experience – we’ve simplified this form for you. For many small businesses, especially sole proprietors, the net income of your business is your personal income. If you take a separate salary please be sure to note that as an expense on the form separate from all other salaries. You can enter your information directly on this form too.

We’ve helped thousands of individuals and small businesses in New York get out of financial hardships. We invite you to contact us to see how we can help you.