Step 2: List Your Expenses_dsc0159

Using your organized documents and the “Expense” form in the link below, enter the amounts of your current monthly expenses in the first column.

  • For monthly expense amounts that vary every month, such as utilities, use an average monthly amount.
  • For periodic expenses, such as auto insurance premiums, spread the expense amount over the service period. For example, if your insurance premium due is $600 every six months, divide $600 by six months for a monthly expense of $100.
  • For items you purchase on credit, such as a piece of assistive technology equipment for, say, $6,000, adjust your spending plan to reflect how much you’ll spend each month to pay it off. You may have to account for interest expenses on unpaid balances.
  • For items you purchase for cash from your savings account, such as travel or entertainment items, adjust your spending plan to reflect how much you’ll save each month to build your savings back up.
  • For anticipated expenses you might incur while caring for your child, there is no easy answer. You may have to purchase or replace assistive technology devices or pay for new services. Consult with professionals, your case worker, and other parents familiar with your child’s disability to get a feel for what types of costs you might incur, their approximate amounts, and any lower-cost alternatives.

 

 

List_Your_Expenses_pdf List_Your_Expenses_Excel File

 

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