Preparing a monthly budget -- and sticking to it -- is one of the keys to successful homeownership. You should watch what you spend each month and see if you are getting closer to meeting your financial goals. If you continue to spend more than you make, you must find ways to spend less. Use the following worksheet to help develop your budget.
| Details | Average Monthly Payment |
| Housing Expenses | |
| Electricity | $ |
| Heating costs | $ |
| Mortgage (principal and interest) | $ |
| Parking fees (if paid separately) | $ |
| Property insurance | $ |
| Property taxes | $ |
| Water | $ |
| Non-Housing Expenses | |
| Cable TV/Satellite/Video Rental | $ |
| Car fuel | $ |
| Car insurance and license | $ |
| Car repairs and service | $ |
| Charitable donations | $ |
| Child care | $ |
| Child support/alimony | $ |
| Clothes | $ |
| Dental expenses | $ |
| Entertainment, recreation, movies | $ |
| Furnishings | $ |
| Groceries | $ |
| Internet | $ |
| Life insurance | $ |
| Lunches/eating out | $ |
| Medical expenses, prescriptions, eye wear | $ |
| Newspapers, magazines, books | $ |
| Personal items | $ |
| Property and contents insurance | $ |
| Public transportation | $ |
| Savings (bank account, RRSPs) | $ |
| Telephone/Cell phone/ Internet | $ |
| Other expenses | $ |
| Total Monthly Expenses | $ |
Note: You may have other costs not shown on this worksheet. Make sure you add these other costs when you fill out this form.
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