Budgeting Tools

Monthly Payment Schedule

What is the Monthly Payment Schedule?

This budgeting tool will help you to keep a record of your income and bill payments so you can plan for expenses and savings. To use this tool effectively, you will need to complete the Income and Expenses Worksheet (see “Budgeting Tools” in the Information Booth).

These two tools are designed to go hand-in-hand.

How to Use the Monthly Payment Schedule

1. Complete the Income and Expenses Worksheet (See Tips, Money Matters).

2. Transfer your income sources and amounts from the Income and Expenses Worksheet into the “Income” column on the Monthly Payment Schedule.

3. You might also want to record the date the income is expected.

4. Transfer your expenses, the date due, and the amount due, onto the appropriate columns of the worksheet. The “Paid” column is for you to write the date when your payments have been made. You can use different colored ink for income and expenses.

5. You might want to estimate food and other flexible monthly costs at the end of each month. You can use the Daily Spending Diary (see “Budgeting Tools”) to help you estimate these costs.

Sample Monthly Payment Schedule

For a blank copy of this worksheet, check the Tip Sheet,
located at the end of the Money Matters Module.