The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.
INCOME Take Home Pay (all family members) Child Support/Alimony Pension/Social Security Disability/Other Insurance Interest/Dividends Other Total Income
EXPENSES Rent/Mortgage (include taxes, principal, and insurance) Life Insurance Health/Disability Insurance Vehicle Insurance Homeowner’s or Other Insurance Car Payments Other Loan Payments Savings/Pension Contribution Utilities (gas, water, electric, phone) Credit Card Payments Car Upkeep (gas, maintenance, etc.) Clothing Personal Care Products (shampoo, cologne, etc.) Groceries Food Outside the Home (restaurant meals and carryout) Medical/Dental/Prescriptions Household Goods (hardware, lawn, and garden) Recreation/Entertainment Child Care Education (continuing education, classes, etc.) Charitable Donations Miscellaneous Total Expenses Remaining Income After Expenses
(Subtract Total Income from Total Expenses)
via realtor.org
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