Personal Financial Strategy Worksheet

Step 1: Calculate Your Monthly Income

Income Source	Monthly Amount
Primary Job (after-tax)	$________
Secondary Job/Side Business	$________
Rental Property Income (net)	$________
Investment Income (dividends, interest)	$________
Other Income Sources	$________
TOTAL MONTHLY INCOME	$________

Step 2: Track Your Monthly Expenses

Fixed Expenses (Non-Negotiable)

Expense Category	Monthly Amount	% of Income
Housing (rent/mortgage + property tax)	$________	____%
Insurance (health, life, disability)	$________	____%
Transportation (car payment, insurance, gas)	$________	____%
Minimum Debt Payments (student loans, CC)	$________	____%
Utilities (electric, gas, water, internet)	$________	____%
Subtotal - Fixed Expenses	$________	____%

Variable Expenses (Flexible)

Expense Category	Monthly Amount	% of Income
Groceries & Food	$________	____%
Dining Out & Entertainment	$________	____%
Clothing & Personal Care	$________	____%
Subscriptions (streaming, gym, etc.)	$________	____%
Miscellaneous/Other	$________	____%
Subtotal - Variable Expenses	$________	____%

Step 3: Calculate Your Surplus/Deficit

Total Monthly Income	$________
Total Monthly Expenses	- $________
Monthly Surplus (Available for Savings/Investing)	$________

Budget Benchmarks

Housing: Should be ≤30% of gross income
Transportation: Should be ≤15-20% of gross income
Savings/Investing: Aim for ≥20% of gross income
Debt Payments: Keep below 36% of gross income

Step 4: Wealth-Building Allocation Strategy

Priority 1: Emergency Fund (3-6 Months Expenses)

Your monthly expenses:	$________
Target emergency fund (3-6x):	$________ - $________
Current emergency fund balance:	$________
Shortfall to reach goal:	$________
Monthly allocation:	$________
Months to reach goal:	________ months

Priority 2: Retirement Contributions

Once emergency fund is established, maximize tax-advantaged accounts:

401(k) contribution (get full match):	$________ /month
IRA contribution (max $6,500/year = $542/mo):	$________ /month
HSA contribution (if eligible):	$________ /month
Total retirement savings:	$________ /month

Priority 3: Debt Elimination Strategy

List debts by interest rate (highest first):

Debt Type	Balance	Rate	Min. Payment	Extra Payment
1. _____________	$_____	____%	$_____	$_____
2. _____________	$_____	____%	$_____	$_____
3. _____________	$_____	____%	$_____	$_____

Priority 4: Additional Investment Goals

Taxable brokerage account (index funds):$________ /month
Real estate investment (down payment fund):$________ /month
529 college savings (if applicable):$________ /month
Other investment goals:$________ /month

Recommended Asset Allocation by Age

Age Range	Stocks	Bonds	Cash/Alt
20-30 years old	90%	10%	0%
30-40 years old	80%	15%	5%
40-50 years old	70%	20%	10%
50-60 years old	60%	30%	10%
60+ years old (retirement)	40%	50%	10%

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