What is the Monthly Payment Plan?

This easy-to-use budgeting tool can help you keep a record of your income and payments so you can plan for future expenses and savings.

How to Use the Monthly Payment Plan

• Put your sources of income and the amounts into the "Income" column.
• You might also want to record the date the income is expected.
• Next, put your outgoings, the date due, and the amount due, into the relevant columns of your plan.
• The "Paid" column is for you to write the date when your payments have been made. You can use different coloured ink for income and expenses, or set-up a computer spreadsheet with different colours.
• You might want to estimate food and other variable monthly costs at the end of each month.

Here’s what a simple monthly payment plan could look like: