After you've calculated your cost of living, let's see if you have enough income to cover it (a lot of American's don't). When most people state their yearly salary, they're thinking of their gross earnings. Unfortunately, most of us don't actually take home that much after taxes, social security, and other deductions have been calculated. It's important to get a true picture of what you're really taking home each month.

INCOME FROM ALL SOURCES:
Monthly wages:
Overtime (average):
Commissions/bonuses (average):
Rental income:
Alimony:
Interest income:
Other:
TOTAL:

If your income varies, calculate the average based on the past two years. If you are a salaried employee, here's how to calculate your monthly income: If you get paid twice a month, multiply by two. If you're paid every two weeks, multiply by 26 (the number of pay periods in a year) and divide by twelve.

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Cool got it done. Its sad to say that it is slightly less then our spending. Which makes my job not only to stick to our budget but try to get it even further.

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Kimberly Proud Mommy to Bethany Rose April 2006 &

Organizer of the Coupon Clippers of Tacoma

sInteresting......When I did our average (DH is an hourly rate plus some OT so I used the last 2 years average) it shows our income a decent amount above our monthly spending. I guess I don't always see it b/c some weeks are better than others. I need to do better planning I think to compensate and not feel a hit so hard when we're having one of those "off" pay periods.

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i make more than i spend! yahoo! thats good

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My choices yesterday create my today. My choices today create my tomorrow.

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