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Create a budget

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Instructions:

1. Calculate monthly net income in box 1

2. Estimate monthly expenses (sum of fixed (2a), controllable (2b) and monthly portion of periodic expenses (2c)

3. Compare income and expenses and make adjustments

If you prefer to see a .pdf version of the letter, click here.


2c. Periodic expenses

These are expenses that come up once or twice a year. Fill in the estimated costs under the months they are due. Taxes, insurance premiums, auto servicing, tires, license, birthdays and holidays, educational costs, vacations, etc. Do not include taxes withheld from your paycheck, but do include estimated tax payments you make to the IRS. Add your yearly periodic expenses and divide by 12 to determine the monthly portion.

 
 
 
 
 
 
 

Reproduced with the permission of Michigan State University Cooperative Extension

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Interest.com- Home Equity and Line of Credit Rates
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Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates
Interest.com- Home Equity and Line of Credit Rates Interest.com- Home Equity and Line of Credit Rates Interest.com- Home Equity and Line of Credit Rates Interest.com- Home Equity and Line of Credit Rates Interest.com- Home Equity and Line of Credit Rates