Conscious Spending Plan

NET WORTH $

Assets (current value of car, home, property, business)

Investments (include 401K, non retirement — all investments)

Savings

Debt (students loans, credit card debt, mortgage)

TOTAL NET WORTH $0

INCOME

Gross monthly income (all income before taxes added up)

Net monthly income (how much you take home after taxes)

FIXED COSTS (50-60% of take home)

Rent / Mortgage

Utilities (gas, water, electric, internet, cable, etc.)

Insurance (medical, auto, home / renters, etc.)

Car Payment / Transportation

Debt Payments
Groceries

Clothes

Phone

Subscriptions (Netflix, gym membership, meal services, Amazon, etc.)

Miscellaneous (automatically adds 15% for things you forgot) $0

FIXED COSTS TOTAL $0

INVESTMENTS (10% of take home)

Post-Tax Retirement Savings

Stocks

Add your own here

INVESTMENTS TOTAL $0

SAVINGS GOALS (5-10% of take home)

Vacations

Gifts

Long Term Emergency Fund

Add your own here

SAVINGS TOTAL $0

GUILT-FREE SPENDING (20-35% of take home)

GUILT-FREE SPENDING TOTAL (Dining out, movies, anything
you want!) $0
 Conscious Spending Plan

Ann and Henri have 3 kids, 2 dogs, and 1 income. They recently bought a new house and
they want to spend money fixing it up. At the same time, the kids are growing up and want
to try every lesson, sport, and camp in town.

They need a Conscious Spending Plan that lets them spend on the things they love — their
home and new experiences for the kids.

When we talked with Ann and Henri, they were frustrated.

- They have a high net worth but they still feel like they are always pinching pennies
- They are "saving" for for goals but it feels like it's taking forever to make any progress
- They never seem to have the money to do what they want - work on the house and invest
in activities with their kids

NET WORTH $

Assets (current value of car, home, property, business) $750,000

Investments (include 401K, non retirement — all investments) $800,000

Savings $50,000

Debt (students loans, credit card debt, mortgage) $690,000

TOTAL NET WORTH $910,000

INCOME

Gross monthly income (all income before taxes added up) $10,000

Net monthly income (how much you take home after taxes) $7,580
FIXED COSTS (50-60% of take home) 85%

Rent / Mortgage $2,800

Utilities (gas, water, electric, internet, cable, etc.) $300

Insurance (medical, auto, home / renters, etc.) $275

Car Payment / Transportation $450

Debt Payments $0

Groceries $680

Clothes $300

Phone $150

Kids Activities $325

Pets $250

Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $50

Miscellaneous (automatically adds 15% for things you forgot) $837 Henri is maxing out his 401k at w
making any post tax contributions
And that’s perfectly ok!
FIXED COSTS TOTAL $6,417

INVESTMENTS (10% of take home) 0%

Post-Tax Retirement Savings $0

Stocks $0

INVESTMENTS TOTAL $0

SAVINGS GOALS (5-10% of take home) 5%

House Reno $200

Long Term Emergency Fund $100

Kids Summer Camp $100

SAVINGS TOTAL $400

GUILT-FREE SPENDING (20-35% of take home) 10%

GUILT-FREE SPENDING TOTAL (Dining out, movies, anything
you want!) $763
Henri is maxing out his 401k at work and isn’t
making any post tax contributions right now.
And that’s perfectly ok!
 Conscious Spending Plan

Elizabeth and Cam are both in their early 20s. Elizabeth makes $40,000 a year as a
teaching assistant. She's their sole income while Cam completes his Engineering degree.

She's (wisely) contributing 3% of her income to the 401k account offered through her
employer. Since the money comes out pre-tax, they don't need to make any additional
investments right now.

They live cheaply most of the time but they both have student loans to repay and they love
to eat out with friends. They live with Elizabeth's parents right now (rent free!) but they
know that can't last forever. They do pay for their own utilities.

Most importantly, they need a plan for their future. Elizabeth wants to go to grad school
and they have no long-term savings for emergencies.

NET WORTH $

Assets (current value of car, home, property, business) $0

Investments (include 401K, non retirement — all investments) $8,500

They currently have a negative ne
Savings $0 ok, they have more debt than asse
Conscious Spending Plan they can
numbers soon.
Debt (students loans, credit card debt, mortgage) $18,000

TOTAL NET WORTH -$9,500

INCOME

Gross monthly income (all income before taxes added up) $2,800

Net monthly income (how much you take home after taxes) $2,290
FIXED COSTS (50-60% of take home) 86%

Rent / Mortgage $0

Electric $100

Water / Trash $45

Internet $78

Car Insurance $100

Car Payment / Transportation $380

Student Loans $300

Groceries $450

Clothes $100

Phone $120

Subscriptions $40
Elizabeth is contributing 3% to h
Miscellaneous (automatically adds 15% for things you forgot) $257 the max but as much as she can
to contribute pre-tax and get her
than worry about post tax invest
FIXED COSTS TOTAL $1,970

INVESTMENTS (10% of take home) 0%

Post-Tax Retirement Savings $0

Stocks $0

INVESTMENTS TOTAL $0

SAVINGS GOALS (5-10% of take home) 9%

No matter what - find a way to st

Moving to Chicago Fund $50 Even if it’s only $10.
 No matter what - find a way to st
Even if it’s only $10.

Grad School $100

Emergency Fund $50

SAVINGS TOTAL $200

GUILT-FREE SPENDING (20-35% of take home) 5%

GUILT-FREE SPENDING TOTAL (Dining out, movies, anything
you want!) $120
They currently have a negative net worth. That’s
ok, they have more debt than assets. With a good
Conscious Spending Plan they can reverse these
numbers soon.
Elizabeth is contributing 3% to her 401K at work. Not
the max but as much as she can afford. It’s better for her
to contribute pre-tax and get her employer match rather
than worry about post tax investments right now.

No matter what - find a way to start an emergency fund.

Even if it’s only $10.
No matter what - find a way to start an emergency fund.
Even if it’s only $10.