Personal Budget Calculator
Self Test to determine whether you can pay current living expenses and still look at bankruptcy
Fill in the boxes surrounded by light green ONLY with as much information as you can reasonably budget for.
NET MONTHLY INCOME
   Applicant   Spouse   Family
NET EMPLOYMENT INCOME
 $ $    
PENSION / ANNUITIES $ $    
CHILD SUPPORT $ $    
SPOUSAL SUPPORT $ $    
CHILD TAX BENEFIT $ $    
EMPLOYMENT INSURANCE BENEFITS $ $    
SOCIAL ASSISTANCE $ $    
RENTAL INCOME $ $    
SELF EMPLOYMENT INCOME - GROSS $ $    
(Self Employment Expenses) $ $    
NET SELF EMPLOYMENT INCOME
(Income less Expense)		 $ $    
INC TAX ON SELF INCOME
(25% an Estimated amount only)		 $ $    
OTHER SOURCE OF FUNDS $ $    
TOTAL NET MONTHLY RECEIPTS OF FAMILY $ $ $
MONTHLY EXPENSES
NON-DISCRETIONARY EXPENSES
CHILD SUPPORT PAYMENTS $ $    
SPOUSAL SUPPORT PAYMENTS $ $    
CHILD CARE $ $    
MEDICAL CONDITION EXPENSES $ $    
FINES / PENALTIES BEING PAID $ $    
EMPLOYMENT RELATED EXPENSES $ $    
DEBTS WHERE STAY HAS BEEN LIFTED BY COURT $ $    
TOTAL NON-DISCRETIONARY EXPENSES      
 
TOTAL NET MONTHLY FUNDS OF THE FAMILY UNIT      

(using the table beside this line, count the number of persons in the house hold and enter the corresponding number below in the box surrounded by blue.)

Example family unit is husband, wife and 2 children Total number in household is 4. Number next to 4 is 3,474.

Enter this in amount in the blue box below. 		1)
 1,884
2) 2,345
3) 2,883
4) 3,501
5) 3,971
6) 4,478
7) 4,986
AMOUNT SUBJECT TO DIRECTIVE ON SURPLUS INCOME $  
REQUIRED MONTHLY PAYMENT PER BANKRUPTCY DIRECTIVE $ $ $
 

DISCRETIONARY EXPENSES
HOUSING EXPENSES % of Spendable $$
Rent/Mortgage $  
Property Taxes / Condo Fees $
Heating $
Telephone $
Cable $
Power $
Water $
Furniture $
Other $ %
 
PERSONAL EXPENSES
Smoking $
Drinking $
Dining $
Entertainment / Sports $
Gifts / Charity $
Allowances $
Other $ %
 
NON RECOVERABLE MEDICAL
Prescriptions $
Dental $
Other $ %
 
LIVING EXPENSES
Food / Groceries $
Laundry / Dry Cleaning $
Grooming $
Clothing $
Other $ %
 
TRANSPORATION
Care lease / payments $
Operating costs, gas, oil & repairs $
Public Transportation $
Other $ %
 
INSURANCE
Auto $
House $
Furniture & Contents $
Life $
Other $ %
 

PAYMENTS
Secured Creditor $
Spouse's debts (only if the spouse is not going bankrupt) $
Other $ %
 
 
TOTAL MONTHLY EXPENSES
 

CASH AVAILABLE (SHORTFALL) BEFORE PAYMENT TO TRUSTEE
 
REQUIRED MINIMUM MONTHLY PAYMENT PER DIRECTIVE ON SURPLUS INCOME
(this number comes from the blue box above)  
 
If only Applicant is looking at bankruptcy fill in the amount above in the first box surrounded by yellow.
If both Applicant and Spouse are looking at bankruptcy fill in the amounts above
in both yellow boxes.
  
 
SURPLUS OR (DEFICIT)
  
 
If the amount in the box surrounded in blue is negative (-), then you are planning to spend more each month then you will have resources to pay. Review all income and expense items to see if you can produce a positive (+) result by cutting back anticipated expenses or by increasing income by overtime or a part time job. In bankruptcy you will not have the ability to spend more than your monthly receipts.
 
EXPLANATION IF ABOVE BOX SURROUNDED IN BLUE IS IN A MINUS POSITION, HOW WILL YOU COVER THIS SHORTAGE
 
We suggest you Calculate and then Print out this form to review several times before it is finalized and/or submitted to the Trustee's office.