50-30-20 WORKSHEET

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50-30-20 Worksheet

PART A	List Specific Source of Income	List Dollar Amount
Income {Monthly}	Paycheck 1
After taxes {Net pay}	Source 2
	Source 3
	Source 4
	Source 5
	Part A Income After Taxes:
Part B
Regular Deductions	401 k paid by you and/or employer or Pension payment	Amount: Add this to your SAVINGS column
	Health Insurance Monthly	$                                   {Need}
	Dental Insurance Monthly	$                                   {Need}
	Vision Insurance Monthly	$                                   {Need}
	Life Insurance	$                                   {Need}
	Disability Insurance	$                                   {Need}
	Child Support	$                                   {Need}
	Other	$
	Other	$
	Part B Total Deductions:
	Add Part A plus part B:
		**This is your AFTER TAX income
After Tax income x .50=	After Tax income x .30=	After tax income  x .20=
$	$	$
This is your NEEDS 50% goal!	This is your WANTS 30% Goal!	This is your Savings 20% Goal!
Now, list your Spending:
Needs	Wants	Savings and Loan Repayments
1		401k:
2		Pension:
3		Savings Contribution:
4		Extra Debt Payment:
5		Other:
6		Other:
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Total NEEDS $	TOTAL Wants $	TOTAL Savings/Loan Repay $
Divide this number by your AFTER TAX INCOME	Divide this number by your AFTER TAX INCOME	Divide this number by your AFTER TAX INCOME
%	%	%
How close to 50% are you?	How close to 30% are you?	How close to 20% are you?