In this budget worksheet, we'll look at how much money you spend on discretionary items.
How To Use This
You can either use this worksheet alone, just to get an idea of how much you spend on discretionary costs, or you can use it along with our other budgeting worksheets to create a complete budget.
What Do You Mean By "Discretionary"?
This worksheet consists of all the bills that are easiest to cut, although there will always be debate about what's a necessity and what is not. Some people find it hard to imagine some of these items – like cable television and home internet – as “discretionary.”
|DISCRETIONARY EXPENSE||MONTHLY ESTIMATE||ACTUAL|
|Cable or Satellite TV|
|Dining Out - Restaurants|
|Fast Food/Casual Eateries|
|Gym / Fitness Club|
|Subscriptions (magazine, Netflix, etc.)|
|Professional / Club dues|
|Hobbies and Sports|
|Lessons (Music, Art, etc.)|
|Holidays and Gifts|
If this Discretionary Spending Worksheet is the only budget worksheet you're using, you now have a good idea of where you're spending your "extra" money. Use this list to generate ideas about where to make cuts in your own budget, if necessary.
I highly recommend using this along with the worksheet for income and necessary expenses so you can create a complete budget.
Next Step for A Complete Budget
If you've used that worksheet, add your fixed and discretionary totals. Enter it below.
|Total Expenses (Necessary + Discretionary)|
If you spend more than you earn, you need to make cuts to your budget immediately. You're at risk of going into debt (or deepening your debt).
If you earn more than you spend, congratulations. But your budget’s not complete yet. You need to use this worksheet to include savings in your budget.