Budget Starter Exercise
| Category | Examples / Notes | Estimated Monthly Amount | % of Income |
|---|---|---|---|
| Giving | Church, charitable giving | $__________ | __________% |
| Housing | Rent / mortgage, utilities, insurance | $__________ | __________% |
| Transportation | Car payment, gas, insurance, repairs | $__________ | __________% |
| Food | Groceries, dining out | $__________ | __________% |
| Debt Payments | Student loans, credit cards, other | $__________ | __________% |
| Savings | Emergency fund, goals | $__________ | __________% |
| Healthcare | Insurance, out-of-pocket | $__________ | __________% |
| Personal | Clothing, personal care, fun | $__________ | __________% |
| Other | Subscriptions, gifts, miscellaneous | $__________ | __________% |
| TOTAL MONTHLY INCOME | Combined take-home | $__________ | 100% |
Financial Snapshot
Each person prepares a complete financial snapshot: income, debt (type and amount), savings, and monthly obligations. Share it fully with each other—no holding back, no minimizing.
Purpose
The goal of this assignment is to cultivate honesty, transparency, and unity in your financial life as a couple. Marriage requires trust, and finances are one of the most common areas where trust can either grow or break down. This exercise is designed to help you both clearly understand each other's financial situation.
Instructions
Each person should independently complete a full financial snapshot. Be completely honest and thorough. Do not minimize, hide, or estimate loosely—accuracy matters.
After completing your individual snapshots, schedule a time to share everything with each other openly. Reminder: This exercise is not about perfection—it is about honesty, trust, and building a strong foundation for your future together.
Part 1: Income
List all sources of income and their approximate monthly amounts.
- Primary job income: $__________
- Secondary job / side income: $__________
- Passive income (investments, rental, etc.): $__________
- Other income: $__________
Total Monthly Income: $__________
Part 2: Debt
List every debt you currently have. Be specific.
| Type of Debt | Total Amount Owed | Monthly Payment | Interest Rate |
|---|---|---|---|
| Student Loans | $__________ | $__________ | __________% |
| Credit Cards | $__________ | $__________ | __________% |
| Car Loan | $__________ | $__________ | __________% |
| Personal Loans | $__________ | $__________ | __________% |
| Other: __________ | $__________ | $__________ | __________% |
Total Debt: $__________
Part 3: Savings & Assets
List all savings and assets.
- Checking account balance: $__________
- Savings account balance: $__________
- Emergency fund: $__________
- Retirement accounts (401k, IRA, etc.): $__________
- Investments: $__________
- Cash on hand: $__________
- Other assets (car value, property, etc.): $__________
Total Savings/Assets: $__________
Part 4: Monthly Expenses & Obligations
List your average monthly expenses.
- Rent/Mortgage: $__________
- Utilities: $__________
- Groceries: $__________
- Transportation (gas, insurance, etc.): $__________
- Phone/Internet: $__________
- Insurance (health, life, etc.): $__________
- Subscriptions/Entertainment: $__________
- Eating out: $__________
- Giving/Tithing: $__________
- Other: $__________
Total Monthly Expenses: $__________
Part 5: Reflection Questions
Answer these honestly before sharing with your partner.