Oprah's Debt Diet: Step 5, Part 2

Step 1: How Much Debt Do You Really Have?

Chart Your Debt

Get Your Credit Score

Prioritize Payments

Step 2: Track Your Spending and Find Extra Money to Pay Down Debt

Find Your Latte Factor®

Use the Latte Factor® Calculator

Step 3: Learn to Play the Credit Card Game

Pay More than the Minimum Payments

Lower Your Interest Rates

Four Tricks of the Credit Card Companies

Which Credit Cards to Tackle First

Step 4: Stop Spending

Step 5: Create a Monthly Spending Plan

The Monthly Spending Plan Worksheet and Pie Chart

Use the Monthly Spending Plan Calculator

Assign Paychecks to Expenses

Step 6: Take Big Steps to Grow Your Income

Facing Hard Choices

Selling Assets

Earning More Money

Step 7: Prioritize Your Debts and Raise Your Credit Score

Prioritizing Your Debts

Raising Your Credit Score

Step 8: Understand Your Spending Issues…and Save!

Why Do You Shop? Self-Assessment Quiz

How to Protect Yourself and Start Saving

Choose a Topic

Budgets and Tracking Expenses
Buying or Selling a Home

Credit Cards

Financial Planning and Investing
Credit Reports and Scores

Savings and Retirement

Loans

Meet the Experts

David Bach

Glinda Bridgforth

Jean Chatzky

People Who Saved Big Money

Share Your Stories on the Message Boards

Before and After Oprah's Debt Diet

The Bradleys

The Egglestons

The Widlunds

Watch Video Highlights

Buy Oprah's Debt Diet DVD

Step 5: Create a Monthly Spending Plan
Part 2: Use the Monthly Spending Plan Calculator

Print this page after you've used the calculator.

If you'd like to allocate your take-home pay percentages, consider this recommendation.

Do you have a balanced spending plan, or are you spending more than you make? Enter how much you have budgeted for each category to see if you will be in the red or in the green at the end of the month.

NOTE: Don't use commas. (Example: $1,500.50 would be 1500.50)

Housing 35%

	Mortgage/rent	$
	Utilities	$
	Insurance	$
	Taxes	$
	Home maintenance	$
	Other	$

Your estimated budget:

35% of your net income:

Debt 15%

	Student loans	$
	Credit cards	$
	Installment loans	$
	Personal loans	$
	Tax debt	$
	Medical debt	$
	Other	$

Your estimated budget:

15% of your net income:

Transportation 15%

	Car payment	$
	Auto insurance	$
	Maintenance	$
	Gasoline	$
	Parking/tolls	$
	Other	$

Your estimated budget:

15% of your net income:

Other Living Expenses 25%

	Food	$
	Clothing	$
	Entertainment	$
	Travel	$
	Childcare	$
	Medical expense	$
	Tithing	$
	Charity	$
	Other	$

Your estimated budget:

25% of your net income:

Savings 10%

	401K	$
	College savings fund	$
	Emergency cushion	$
	Other	$

Your estimated budget:

10% of your net income:

How does your paycheck break down?
Your monthly net income:	$
NOTE: Don't use commas. (Example: $1,500.50 would be 1500.50)

Your total estimated budget:	$
Result at the end of the month:	$

Do you want to see how your projected monthly budget from Part 1 compares with these values?

Please note: This is general advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio. Harpo is not responsible for any losses, damages or claims that may result from your financial decisions.