The Ac tors Fund

Financial Wellness Program

Budgeting
Nuts & Bolts
Workbook

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WHAT’S IN THIS WORKBOOK?

IN-CLASS REFLECTION EXERCISE............................... 3

STARTING POINT: MONTHLY PROFIT & LOSS............. 4

CATEGORIES & EXPENSES LIST . . ................................. 5

REVENUE WORKSHEET............................................... 9

CREATIVE EARNINGS WORKSHEET............................. 10

MY COMMITMENT..................................................... 11
IN- CL ASS REFLEC TION E XERCISE
Please take a few moments to think through and write down your answers to the following questions:

Why am I here?

What do I see as my greatest financial challenge?

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S TARTING POINT: MONTHLY PROFIT & LOSS

Revenue (gross income)

– Expenses (costs)

Profit or Loss (net income)

Determining Average Monthly Expenses

Using the tool you find most comfortable (app / software, spreadsheet, pen(cil) and paper)…

1. Gather 6 months of statements from ALL accounts.

2. Review categories list and cross out any that don’t apply.
3. Record the individual amounts spent in each category.
 Start with the first category. Go through all 6 months of statements and record (on a separate sheet)
the amount from every time you spent in that category. Cross out the transaction on your statement
as you record it.
 Add up the total, write it down, and divide by 6 to calculate the average monthly amount you spent
in that category.
 Write that number next to the category name.
 Continue this process until you have a number next to every category you did not cross out.
4. Calculate the total and average for each category.
5. Total all categories to determine your average monthly expenses.

Remember!
 Go through each transaction.
 There are no shortcuts.
 This is the most important work you will do in this process.

Determining Average Monthly Revenue

Non-Industry (past 6 months)

1. Cross out any categories that don’t apply
2. Review bank statements and/or check stubs
3. Calculate total earned per source
4. Divide by 6
5. Record average monthly amount per source

Industry (past 5 years)

 Review tax returns and/or bank statements
 Record total industry earnings for each year

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C ATEGORIES & E XPENSES LIS T
These categories and expenses are suggestions. You should feel free to personalize and/or add titles as makes sense for you.

BUSINESS COSTS

Accompanist $ Parking / Tolls (Business) $

Accountant/ Passport $
Bookkeeper $
Photo Shoot /
Attorney / Legal Fees $ Reproduction / Lithos $

Books / Scripts / Music $ PO Box / Safe Deposit /

Storage $
Business Bank Fees $
Professional Registries
Business Interest $
(Casting) $
Business Cards /
Stationery / Postcards $ Props $

Business Gifts $ Publicist $

Business License $ Rental Theatre Space /

Rehearsal Hall $
Commissions (Agent) $
Resume Service &
Commissions (Manager) $ Reproduction $
Costume Repair / Royalties Paid $
Cleaning / Maintenance $
Sides $
Demo (Audio, Video) $
Software $
Dining (Business) $
Travel (Business) $
Dues (Unions /
Professional Societies $ Uniforms/
Professional Costumes $
Entertainment $
Web Site /
Equipment
Domain Web Hosting $
(Purchase / Rental) $
____________________ $
Equipment (Maintenance) $
____________________ $
Graphic Design $
____________________ $
Instrument Tuning $

TOTAL= $

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DEBT

Credit Card Minimum #1 $ Taxes $

Credit Card Minimum #2 $ ____________________ $
Credit Card Minimum #3 $ ____________________ $
Credit Card Minimum #4 $ ____________________ $
Personal Loans $
Second Mortgage $
TOTAL= $
Student Loan $

EDUCATION / PROFESSIONAL DEVELOPMENT

Books / Scripts $ Subscriptions

(Trade Publications) $
Classes / Workshops /
Seminars $ ____________________ $

Coaching $ ____________________ $

Research ____________________ $
(Tickets, Movies, etc.) $

School Tuition $ TOTAL= $

FOOD

Coffee $ ____________________ $

Dining Out $ ____________________ $

Groceries $ ____________________ $

Snacks $
TOTAL= $
Takeout / Delivery $

HEALTH / BEAUTY

Acupuncture / Chiropractor $ Prescriptions $

Beauty $ Psychotherapy $

Dental $ Vitamins / Supplements $

Fitness $ ____________________ $

Massage $ ____________________ $

Medical Bills $ ____________________ $

Personal Growth $
TOTAL= $
Physical Therapy $

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INSURANCE

Earthquake $ Umbrella $

Homeowner $ ____________________ $

Life $ ____________________ $

Medical $ ____________________ $

Renters $
TOTAL= $

LIVING

Alimony / Child Support $ Housekeeping / Laundry $

Amazon $ Netflix / Hulu $

Babysitting $ Pets $

Bank Fees $ Property Tax $

Cash $ Rent / Mortgage /

Condo Fees $
Clothing $
Storage $
Entertainment / Recreation $
____________________ $
Furniture / Appliances $
____________________ $
Gardener $
____________________ $
Gifts $

Household Repairs /
Maintenance $ TOTAL= $

OFFICE EXPENSE

Batteries $ Printer Supplies

(Ink, Paper, Toner, etc.) $
Copy Service $
____________________ $
Fax Service $
____________________ $
Office Supplies $
____________________ $
Postage / Courier $

TOTAL= $

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TELEPHONE / UTILITIES

Burglar Alarm $ Phone (Landline) $

Cable / Satellite $ Voicemail $

Cell Phone $ Water / Sewer / Garbage $

Electric $ ____________________ $

Fax $ ____________________ $

Gas Bills $ ____________________ $

Internet $
TOTAL= $

TRANSPORTATION

Bus / Subway $ Repair $

Car Loan / Lease $ Taxi / Car Service $

Gasoline $ ____________________ $

Insurance $ ____________________ $

Parking / Tolls $ ____________________ $

TOTAL= $

TRAVEL

Airfare $ ____________________ $

Lodging $ ____________________ $

Transportation ____________________ $
(Car Rental, Taxi, Bus,
Parking, Tolls, etc.) $
TOTAL= $

WEALTH BUILDING

Savings / Investments $ Donations /

Charitable Giving $

TOTAL= $

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RE VENUE WORKSHEE T
Use this worksheet to compute your average current monthly income. Feel free to personalize and/or add titles
as makes sense for you.

Non-Industry Income (past 6+ months)

Sideline Employment Source #1 $

Sideline Employment Source #2 $

Unemployment Insurance Benefits $

Residuals / Royalties $

Food Stamps / SNAP $

Public Assistance $

State Disability $

Social Security / SSD $

Supplemental Security Income $

Pension $

Worker’s Compensation $

Alimony / Child Support (Received) $

Spouse / Family Support $

Interest / Investment Income $

Other $

Other $

Other $

AVERAGE TOTAL MONTHLY INCOME= $

Industry (past 5 years)

Year 1: $

Year 2: $

Year 3: $

Year 4: $

Year 5: $

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MY COMMITMENT
Please use this space to record your own statement(s) of commitment.

“Unless a commitment is made, there

are only promises and hopes; but no plans.”
—Peter F. Drucker

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