Budget Income Forecasting: Keep Track Your Personal Cash Flow

For purposes of budget income forecasting, figure all sources of your income on a monthly basis. Then, forecast your average monthly income over the next year by completing the worksheets shown bellow.

Use the following guidelines in the completion of this income forecast:

1. Enter the monthly income for each of the various categories listed.

2. Enter the total for each month at the bottom of the page.

3. Enter the total in each income category for the year in Column ‘‘A.”

4. Divide Column “A” by 12 and enter the average for each month in Column “B.”

Instructions for Income Forecasting Sheet

Income forecasting is the first step in the personal budgeting process. On this sheet, you are to list all sources of income and when you anticipate receiving such income.

Wages or Salary—If paid monthly, list the gross amount of income.

Bonuses or Commissions—If you know you will receive a bonus a certain time of the year, list the anticipated amount in the appropriate monthly column.

Interest and Dividends—Record the amounts and months when such income is anticipated.

Rental Income—May vary from month to month.

Annuities, pensions, social security—are usually paid monthly.

Other—List any other income not previously mentioned.

Before entering your figures for the Budget Worksheets review carefully the completed forms.