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Expense Worksheet

Print this page and use it to track the monthly expenses in your budget. To make it easier to track your expenses, Consolidated Credit recommends breaking expenses into three categories.

  1. Fixed expenses: Necessary expenses / obligations with a fixed cost each month
  2. Flexible expenses: Necessary expenses / obligations with a variable cost each month
  3. Discretionary expenses: Unnecessary “nice to have” expenses (wants)

For any expense that does not have a fixed cost, you should write down your current monthly payment, as well as what you need to pay in order to balance your expenses against your income. An easy way to determine “Adjusted to balance income” is to set the amount either as (1) the highest cost you pay during the year or (2) by taking an average cost over several months.

Download and Print Our Expense Worksheet »

Fixed Expenses

Note: Fixed expenses largely do not change from month to month, although they may vary periodically. For example, homeowners’ insurance costs may increase at the beginning of the year but will not change from one month to the next.

Expense TypeCurrent Payment
Mortgage / Rent$
Homeowner’s Association Fees (HOA)$
Car Loans / Lease Payments$
Car Insurance$
Student Loan Payments$
Alimony / Child Support Payments$
Private Medical Insurance$
Credit Card Debt (totaled from credit card debt worksheet)$
Savings (target 5-10% of income, set as a fixed cost)$

Additional notes about fixed expenses:

Flexible Expenses

Note: Flexible expense payments can vary (at least slightly) from one month to the next. For bills, this usually happens when the payment is calculated according to a formula, such as your electric bill being based on your power consumption or credit card debt payments being based on the total amount of debt owed.

Expense TypeCurrent PaymentAdjusted to Balance Income
Home Phone / Internet$$
Mobile / Cellular Service$$
Electric / Gas / Oil Bill$$
Household Supplies$$
School / Office Supplies$$
Pet Care Costs$$
Dry Cleaning / Laundry Services$$
Gas (auto)$$
Tolls / Parking / Transporation$$

Additional notes about flexible expenses:

Discretionary Expenses

Note: These expenses are things that aren’t really necessary to maintain your standard of living, but they are the nice-to-have items you generally spend at least some money on every month. If you need to streamline your budget to increase your cash flow, you can temporarily cut back or eliminate at least some of these costs.

Expense TypeCurrent PaymentAdjusted to Balance Income
Cable / Satellite $$
Streaming Services$$
Dining Out / Delivery$$
Moves / Theater$$
Sporting Events / Concerts$$
Subscriptions (magazines / news)$$
Box Delivery Services$$
Barber / Beauty Salon$$
Fundraisers / Donations$$
Club Dues$$

Having trouble balancing your budget? Work with a certified credit counselor to set a realistic budget.