IWT Conscious Spending Plan

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Current Spending Plan
NET WORTH $
Assets (current value of car, home, property, business)

$0
Investments (include 401K, non retirement — all investments)

$10,169
Savings $900
Debt (students loans, credit card debt, mortgage)

$0
TOTAL NET WORTH $11,069
CURRENT
INCOME MONTHLY $
Gross monthly income (all income before taxes added up)

$3,291
Net monthly income (how much you take home after taxes)
$3,291
FIXED COSTS 39%
Rent / Mortgage $350
Utilities (gas, water, electric, internet, cable, etc.) $70
Insurance (medical, auto, home / renters, etc.) $106
Car Payment / Transportation $150
Debt Payments $0
Groceries $150
Zakat $55
Cuckoo $60
Mak & Ammar $300

Phone $30
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $7

FIXED COSTS TOTAL $1,278
INVESTMENTS 11%
KWSP $363
INVESTMENTS TOTAL $363
SAVINGS GOALS 35%
Vacations $50
Laptop & car license $200
Long Term Emergency Fund $250
House down payment $500

Education & Wedding $150
SAVINGS TOTAL $1,150
EVERYTHING ELSE 15%
EVERYTHING ELSE (Dining out, movies, anything you want) $500

Conscious Spending Plan
IDEAL
INCOME MONTHLY $
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
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) +60 17-921 1583
Miscellaneous (automatically adds 15% for things you forgot) Buffer $0
FIXED COSTS TOTAL $0
INVESTMENTS (10% of take home)
KWSP
Add your own here
INVESTMENTS TOTAL $0
SAVINGS GOALS (5-10% of take home)
Vacations
Emergency fund
SAVINGS TOTAL $0
GUILT-FREE SPENDING (20-35% of take home)

GUILT-FREE SPENDING TOTAL (Dining out, movies, anything you
want!) $0
3
NET WORTH $

$0

$10,169
Savings $900

$0
CURRENT IDEAL
INCOME MONTHLY $ MONTHLY $ CHANGE

$3,291 $0 -$3,291
$3,291 $0 -$3,291
FIXED COSTS (50-60% of take home) 39%
Rent / Mortgage $350 $0 -$350
Utilities (gas, water, electric, internet, cable, etc.) $70 $0 -$70
Insurance (medical, auto, home / renters, etc.) $106 $0 -$106
Car Payment / Transportation $150 $0 -$150
Debt Payments $0 $0 $0
Groceries $150 $0 -$150
Clothes $55 $0 -$55
Phone $30 $0 -$30
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $7 $0 -$7
Miscellaneous (automatically adds 15% for things you forgot) $0 $0

FIXED COSTS TOTAL $1,278 $0 -$1,278
INVESTMENTS (10% of take home) 11%
Post-Tax Retirement Savings $363 $0 -$363
Stocks $0 $0 $0
Add your own here $0 $0 $0
INVESTMENTS TOTAL $363 $0 -$363
SAVINGS GOALS (5-10% of take home) 35%
Vacations $50 $0 -$50
Gifts $200 $0 -$200
Long Term Emergency Fund $250 $0 -$250
SAVINGS TOTAL $1,150 $0 -$1,150
GUILT-FREE SPENDING (20-35% of take home) 15%

GUILT-FREE SPENDING TOTAL (Dining out, movies, anything
you want!) $500 $0 -$500
NET WORTH $
Savings
TOTAL NET WORTH $0
PARTNER 1 PARTNER 2 COMBINED
CURRENT CURRENT CURRENT

INCOME MONTHLY $ MONTHLY $ MONTHLY $

$0
$0
FIXED COSTS
Rent / Mortgage $0
Debt Payments $0
Groceries $0
Clothes $0
Phone $0

FIXED COSTS TOTAL $0 $0 $0
INVESTMENTS
Post-Tax Retirement Savings $0
Stocks $0
Add your own here $0
INVESTMENTS TOTAL $0 $0 $0
SAVINGS GOALS
Vacations $0
$0
SAVINGS TOTAL $0 $0 $0
EVERYTHING ELSE
EVERYTHING ELSE (Dining out, movies, anything you want) $0 $0 $0

Gifts
IDEAL IDEAL IDEAL


$0
$0
Rent / Mortgage $0
Debt Payments $0
$0
Clothes $0
Phone $0
Miscellaneous (automatically adds 15% for things you forgot) $0 $0 $0
Stocks $0
Vacations $0
Gifts $0

want!) $0 $0 $0
Groceries
NET WORTH $

$0
$0
Savings $0

$0
TOTAL NET WORTH $0
PARTNER 1
CURRENT IDEAL
INCOME MONTHLY $ MONTHLY $ CHANGE

$0 $0 $0
$0 $0 $0
Rent / Mortgage $0 $0 $0
$0 $0 $0
Insurance (medical, auto, home / renters, etc.) $0 $0 $0
Car Payment / Transportation $0 $0 $0
$0 $0 $0
Clothes $0 $0 $0
Phone $0 $0 $0
$0 $0 $0
$0 $0 $0
Stocks $0 $0 $0
Vacations $0 $0 $0
Gifts $0 $0 $0
Long Term Emergency Fund $0 $0 $0

you want!) $0 $0 $0
PARTNER 2 COMBINED
CURRENT IDEAL CURRENT IDEAL

MONTHLY $ MONTHLY $ CHANGE MONTHLY $ MONTHLY $ CHANGE
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
Investments
(include 401K,
non retirement
— all
investments)
Subscriptions
(Netflix, gym
membership,
meal services,
Amazon, etc.)
Post-Tax
Retirement
Savings
Groceries
Ann and Henri have 3 kids, 2
the kids are growing up and
NET WORTH $
They need a Spending Plan t
$750,000 They have combined finance
When we talked with Ann an

$800,000 - They have a high net worth
- They are "saving" for for g
- They never seem to have th
Savings $50,000

$690,000
CURRENT CURRENT CURRENT


$10,000 $0 $10,000
$7,580 $0 $7,580
FIXED COSTS 85%
Rent / Mortgage $2,800 $2,800
Utilities (gas, water, electric, internet, cable, etc.) $475 $475
Insurance (medical, auto, home / renters, etc.) $275 $275
Car Payment / Transportation $750 $750
Debt Payments $0 $0
Groceries $680 $680
Clothes $300
Phone $300 $300
Kids Activities $325 $325

Pets $250 $250
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $275 $275
FIXED COSTS TOTAL $6,430 $0 $6,430
INVESTMENTS
Post-Tax Retirement Savings $0 $0
Stocks $0 $0
SAVINGS GOALS 5% 5%
House Reno $200 $200
Long Term Emergency Fund $100 $100
Kids Summer Camp $100 $100
10%
EVERYTHING ELSE (Dining out, movies, anything you want) $750 $750
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,
up and want to try every lesson, sport, and camp in town.
g Plan that lets them spend on the things they love — their home and new experiences for the kids.
finances so for simplicity's sake, they are adding all expenses under Partner 1
Ann and Henri, they were frustrated.

et worth but they still feel like they are always pinching pennies
or for goals but it feels like it's taking forever to make any progress
o have the money to do what they want - work on the house and invest in activities with their kids
300
Investments
(include 401K,
non retirement
— all
investments)
EVERYTHIN
G ELSE
$0
10%
IDEAL IDEAL IDEAL


$10,000 $4,780 $14,780
$7,580 $4,000 $11,580
53%
Rent / Mortgage $2,800 $2,800
Utilities (gas, water, electric, internet, cable, etc.) $475 $475
Insurance (medical, auto, home / renters, etc.) $200 $200
Car Payment / Transportation $450 $450
Debt Payments $0 $0
Groceries $680 $680
Clothes $300 $300
Phone $300
Kids Activities $325
Pets $250 $250
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $175 $175
Miscellaneous (automatically adds 15% for things you forgot) $800 $0 $800
FIXED COSTS TOTAL $6,755 $0 $6,130
Stocks $0
SAVINGS GOALS (5-10% of take home) 10%
Long Term Emergency Fund $500 $500
$125 $125
Home Improvement $500 $500
SAVINGS TOTAL $1,125 $0 $1,125
GUILT-FREE SPENDING (20-35% of take home) 100% 37%

want!) -$300 $4,000 $4,326
SOLUTIONS:
- Ann has a degree in Accounting. She wants to be home for her kids but she decided she can work 15 hours per week when the kids ar
- The family has an expensive SUV and expensive insurance. They are trading it in for a more practical family car and shopping for a b
- They did a "subscription audit" for all their subscription services. They found they have several they don't even use any more
- Henri is already maxing out his 401k and they are a young family. They are on track for retirement for now. They'll revisit their inves
- To make their money support what's important to them, Henri and Ann are setting 3 specific savings goals:
- $1,500 in savings to pay for camp for the kids by this time next year ($125 a month)
- $500 a month to spend on home improvements for the next 12 months
- $500 a month into their long term emergency fund until they reach 6 months of expenses
but she decided she can work 15 hours per week when the kids are at school
re trading it in for a more practical family car and shopping for a better insurance rate based on their great diving history
hey found they have several they don't even use any more
They are on track for retirement for now. They'll revisit their investment goals next year and start adding additional investments.
Ann are setting 3 specific savings goals:
year ($125 a month)
onths
ch 6 months of expenses
FIXED COSTS
(50-60% of
take home)
Kids Camp
$

$750,000

$800,000
Savings $50,000

$690,000
PARTNER 1
CURRENT IDEAL
INCOME MONTHLY $ MONTHLY $
Gross monthly income (all income before taxes added up) $10,000 $10,000 $0
Net monthly income (how much you take home after taxes) $7,580 $0
FIXED COSTS 89%
Rent / Mortgage $2,800 $2,800 $0
Utilities (gas, water, electric, internet, cable, etc.) $475 $475 $0
Insurance (medical, auto, home / renters, etc.) $275 $200 -$75
Car Payment / Transportation $750 $450 -$300
Groceries $680 $680 $0
Clothes $300 $300 $0
Phone $300 $300 $0
Kids Activities $325 $325 $0

$250 $250 $0
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $275 $175 -$100
FIXED COSTS TOTAL $6,430 $6,755 $325
Post-Tax Retirement Savings $0 $0 $0
Stocks $0 $0 $0
SAVINGS GOALS (5-10% of take home) 5% 15%
House Reno $200 $500 $300
Long Term Emergency Fund $100 $500 $400
Kids Summer Camp $100 $125 $25
SAVINGS TOTAL $400 $1,125 $725
GUILT-FREE SPENDING (20-35% of take home) 10% -4%

you want!) $750 -$300 -$1,050
What seem like nominal changes have a huge impact for Ann and Henri
- The addition of 15 hours of work from Ann gives them over $3,000 more a month to spend GUILT FREE on anything they want
- Setting clear savings goals aligned with their priorities lets them know they can spend on the things they love
- Taking a look at fixed costs and cutting ruthlessly on the unimportant allows them to turn up the dial on the things they love
PARTNER 2 COMBINED
CURRENT IDEAL CURRENT IDEAL

MONTHLY $ MONTHLY $ CHANGE MONTHLY $ MONTHLY $ CHANGE
$0 $4,780 $4,780 $10,000 $14,780 $4,780
$0 $4,000 $4,000 $7,580 $11,580 $4,000
85% 58%
$0 $2,800 $2,800 $0
$0 $475 $475 $0
$0 $275 $200 -$75
$0 $750 $450 -$300
$0 $0 $0 $0 $0 $0
$0 $0 $0 $680 $680 $0
$0 $0 $0 $300 $0
$0 $0 $300 $300 $0
$0 $0 $325 $325 $0
$0 $0 $0 $250 $250 $0
$0 $0 $0 $275 $175 -$100
$0 $0 $0 $800
$0 $0 $0 $6,430 $6,755 $325
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
5% 10%
$0 $0 $0 $200 $500
$0 $0 $0 $100 $500 $400
$0 $0 $0 $100 $125 $25
$0 $0 $0 $1,125 $725
100% 10% 32%
$0 $4,000 $4,000 $750 $3,701 $2,951

want
ious
Spend
ing
Plan
INVESTMENT
S (10% of take
home)
NET WORTH
$7,580
Pets
$0
$0
$800
$300
CHANGE

IWT Conscious Spending Plan

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IWT Conscious Spending Plan

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Follow the detailed instructions here

Current Spending Plan

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

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

Debt (students loans, credit card debt, mortgage)

TOTAL NET WORTH $11,069

Gross monthly income (all income before taxes added up)

FIXED COSTS 39%

Rent / Mortgage $350

Utilities (gas, water, electric, internet, cable, etc.) $70

Insurance (medical, auto, home / renters, etc.) $106

Car Payment / Transportation $150

Mak & Ammar $300

Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $7

INVESTMENTS TOTAL $363

SAVINGS GOALS 35%

Laptop & car license $200

Long Term Emergency Fund $250

House down payment $500

SAVINGS TOTAL $1,150

EVERYTHING ELSE 15%

EVERYTHING ELSE (Dining out, movies, anything you want) $500

Gross monthly income (all income before taxes added up)

FIXED COSTS (50-60% of take home)

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

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

Car Payment / Transportation

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

FIXED COSTS TOTAL $0

INVESTMENTS (10% of take home)

SAVINGS GOALS (5-10% of take home)

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

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

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

Debt (students loans, credit card debt, mortgage)

TOTAL NET WORTH $11,069

Gross monthly income (all income before taxes added up)

FIXED COSTS (50-60% of take home) 39%

Rent / Mortgage $350 $0 -$350

Utilities (gas, water, electric, internet, cable, etc.) $70 $0 -$70

Insurance (medical, auto, home / renters, etc.) $106 $0 -$106

Car Payment / Transportation $150 $0 -$150

Groceries $150 $0 -$150

Clothes $55 $0 -$55

Phone $30 $0 -$30

Subscriptions (Netflix, gym membership, meal services, Amazon, etc.) $7 $0 -$7

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

INVESTMENTS (10% of take home) 11%

Post-Tax Retirement Savings $363 $0 -$363

Add your own here $0 $0 $0

INVESTMENTS TOTAL $363 $0 -$363

SAVINGS GOALS (5-10% of take home) 35%

Vacations $50 $0 -$50

Gifts $200 $0 -$200

Long Term Emergency Fund $250 $0 -$250

Add your own here $0 $0 $0

SAVINGS TOTAL $1,150 $0 -$1,150

GUILT-FREE SPENDING (20-35% of take home) 15%

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