The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.
|Take Home Pay (all family members)|
|Rent/Mortgage (include taxes, principal, and insurance)|
|Homeowner’s or Other Insurance|
|Other Loan Payments|
|Utilities (gas, water, electric, phone)|
|Credit Card Payments|
|Car Upkeep (gas, maintenance, etc.)|
|Personal Care Products (shampoo, cologne, etc.)|
|Food Outside the Home (restaurant meals and carryout)|
|Household Goods (hardware, lawn, and garden)|
|Education (continuing education, classes, etc.)|
|Remaining Income After Expenses(Subtract Total Income from Total Expenses)|
Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.