Spending Plan bankrate mortgage
Monthly Spending Plan
1 - Complete Column ➊ based on your current financial situation.
Start with your monthly take-home pay. This is the amount you have left after taxes
and other deductions have been made. Include regular, part-time and other sources of
income.
Subtract the amount you need for savings, monthly expenses and monthly credit/loan
payments.
The remaining balance is the amount you can afford to put toward the new mortgage
payment or apply to debt repayment or savings.
2 - Complete Column ➋ based on your new financial situation. This column will show
your new mortgage payments and adjustments you’ve made to expenses and credit
obligations
The remaining balance in Column ➋ will indicate whether you can afford the new
mortgage payment and change in projected expenses.
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