Use this pathfinder to learn how to create a manage a budget. Numerous print and online resources are included. Check out the free online courses and sample budget worksheet

1. Personal Finances Pathfinder: How to Create & Manage a Budget
General Information:
The firststeptowardsimprovingyourpersonal financesis evaluatingyourcurrentsituationtodetermine if youare living
withinyourfinancial means. Thiscanbe accomplishedbysubtractingyourestimatedmonthlyexpensesfromyour
overall householdincome(seesample spreadsheetattachment). Are youprioritizingthe essentials-likerentand
utilities? Are youplanningtowardyourfinancialgoals- like collegeorretirement? If youfindthatyou coulduse some
assistance inanyof these areas,youcan turn to these reliable resourceswhichwill helpyougetyourfinancial futureon
track.
Free Online Courses:
The Free Library of Philadelphiasubscribestodigital learningresourceswhichyoucanuse for free withyourlibrary
account. Fromthe libraries’website homepage,select“databases”andenteryourlibraryaccountand pinnumberto
access these budgetingcourses.
GCFLearn Free: MoneyBasics
Thisis a beginnerlevel course whichcoversmultiple relevanttopics,suchasassessingyourmoneymanagement
skill level,creatingabudget,andstayingoutof debt.
Universal Class:Personal Finance 101
Universal Classoffersamore in-depthlookatyourpersonal financesfromcurrentassetstoinvestmentsand
loans. Course lessonsinclude assignmentsand examinations whichcanearnyouCEUs (continuingeducation
hours).
Books:
The Business,Science &IndustryDepartmentishome toanumberof booksto helpyouget yourfinancial situationon
track. These booksofferplanningtips,real life examples,andsample budgetingguidelineswhichwill give youagood
backgroundon howto improve yourfinancial situation.
Cagan,Michele. The everythingaccounting book: balance your budget,manage your cash flow,and
keepyour books in the black.
Clark,AmyAllen&Murphy,Jana. The good life forless:giving your familygreat meals, goodtimes,and
a happy home on a budget. NewYork: Perigree, 2013.
Clark,Ken. The complete idiot’sguide to getting out of debt. New York: Alpha,2009.
O’Connor,BrianJ. The $1000 challenge:howone familyslashedits budgetwithout movingunder a
bridge or livingon governmentcheese.2013. Portfolio.
Stouffer,Tere. The onlybudgetingbook you’ll everneed:how to save moneyand manage your
financeswith a personal budgetplan that works for you. Avon,Massachusetts:AdamsMedia, 2012.

2. Online Resources:
Better MoneyHabits - https://www.bettermoneyhabits.com
Investopedia:BudgetingBasics - http://www.investopedia.com/university/budgeting/
Kiplinger’sSpecial Report:Budgeting - http://www.kiplinger.com/fronts/special-report/budgeting/
Wise Bread: Personal Finance & LivingForums - http://www.wisebread.com/
Online Budgeting tools:
One of the easiestwaystocreate a budgetand stayon track withyour financesisbyusingonline budgetingtools.
Beloware three of the most popularandwidelyregardedprogramsavailable forfree online. Feelfree toexplore these
and otheroptionstochoose the program mostsuitable foryourneeds.
Mint - http://www.mint.com
Arguablythe mostpopularonline budgetingtool,Mintisone of the firstcompaniestoprovide free electronic
budgeting. Byutilizingeasytovisualize graphicsandasimple layout,thisoptionmake iteasytobegintracking
your finances. The website pullsaccountinformation directlyfromyourbankandcreditcard accounts,so it
offersa real-timeview of yourpresentfinances. Mintalsoincludesweeklyupdatesandbill-payreminders.
BudgetPulse - http://www.budgetpulse.com
SimilartoMint, BudgetPulse isafree online programwhichoffersbudgetingandpaymenttrackingfeatures.
The main difference betweenthe programsisthatBudgetPulsedoes notautomaticallylinkyourfinancial
accounts. For the security-conscious,thismaybe the betteroptionas all transactions are completedmanually.
Additionally,BudgetPulse allowsyoutoshare yoursavingsgoalswithfriendsandfamily soyoucanuse thisas a
fundraisingtool.
Buxfer- http://www.buxfer.com
Buxferisflexibleandeasytouse,offeringsimilarfeaturestothe previoustwooptions,butitgivesyouthe
choice of directlylinkingyourfinancial accountstotheirprogram. Buxferhasbeenpraisedfortheirfocuson
helpingusersreduce theirunwantedspendingbyprovidingreal time alertssoyoudonotexceedyourbudget.
Thissite isalso helpfulforshareddebt- suchasroommatessplittingutilityandrentbillseachmonth.
Additional Resources:
 Searchfor “BudgetTemplate”underGoogle docsforfree customizablespreadsheets,orif youhave Microsoft
Excel,use one of theirfree templates tokeeptrackof monthlyexpenses.
 Visitone of Philadelphia’sFinancialEmpowermentCenterslocatedthroughoutthe cityforfree one-on-one
financial counseling- appointmentscanbe made directlythroughtheirwebsite at
http://www.phila.gov/fe/Pages/default.aspx orbycalling1-855-FIN-PHIL
 CommunityLegal Servicesof Philadelphia,anonprofitorganizationthat provideslegal assistance tolowincome
and strugglingPhiladelphians. Offersservicesindebtmanagement,bankruptcyandmore.
http://www.clsphila.org/Default.aspx -
 For more specificresourcespertainingtoyourfinancial goals,askareference librarian!

3. Budget Worksheet
This sample worksheet includes some of the more common types of income and expenses- not all of the items
listed may be applicable for your personal financial situation, or you may think of other items which should be
added. Try filling out the below as a guideline, and be as realistic as possible. If you’re uncertain about an
amount to list, keep in mind it’s better to aim higher rather than lower on your expenses list.
Income
$ __________ Salary #1
$ __________ Salary #2
$ __________ Other(AlimonySupportpayments,governmentassistance,gifts,etc.)
$ __________ TOTAL MONTHLY INCOME
Expenses
Savings
$ __________ TOTAL MONTHLY SAVINGS
Transportation
$ __________ Gas
$ __________ Insurance
$ __________ Car Payment
$ __________ Maintenance
$ __________ PublicTransportation
$ __________ TOTAL
Housing
$ __________ Rent/Mortgage Payment
$ __________ Insurance
$ __________ Repairs
$ __________ Electricity
$ __________ Water Due:__________
$ __________ HeatingFuel (Gas,propane)
$ __________ Telephone
$ __________ TOTAL
Groceries/Sundries
$ __________ Food
$ __________ HouseholdItems(cleaningsupplies,etc.)
$ __________ Personal Items(shampoo,soap,etc.)

4. $ __________ Laundry
$ __________ TOTAL
Child Care
$ __________ Daycare
$ __________ Other
$ __________ TOTAL
Medical
$ __________ Doctor
$ __________ Hospital
$ __________ Dentist
$ __________ Medicine
$ __________ TOTAL
Entertainment
$ __________ Cable
$ __________ Movies
$ __________ Hobbies:_____________________________________
$ __________ Other:_______________________________________
$ __________ TOTAL
Miscellaneous
$ __________ Clothing
$ __________ Magazine,Cigarettes,Candy,etc.
$ __________ TOTAL
$ __________ TOTAL MONTHLY EXPENSES
Finally,subtractyour total monthlyexpenses fromyour total monthlyincomein order to determine whether or not
you are livingwithinyour means. This is the first step toward evaluatingyourpresent financial situation.