To realistically assess your financial situation, you need to develop a complete picture of your income. Your evaluation must take into account all regular and periodic income in your family (gross income); all paycheck or salary deductions such as taxes, insurance, savings, pension, FICA and union dues; and the amount that remains after deductions (net income). Since most people receive income from more than one source the table below enables you to list at least two sources.
A. Gross Income |
Income #1 |
Income #2 |
Wages/Salary |
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Part-Time Work |
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Self-Employment |
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Bonus/Overtime/Tips |
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Child Support |
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AFDC |
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Disability Compensation |
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Unemployment Insurance |
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Food Stamps |
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Pension |
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Social Security |
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Interest/Dividends |
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National Guard/Reserves |
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Other |
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Total Monthly Gross Income |
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B. Deductions |
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Taxes |
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Social Security |
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Child Support |
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Medical Insurance |
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Union Dues |
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Savings |
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Pension Plan |
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Other |
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Total Monthly Deductions |
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C. Monthly Net Income |
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Minus Total Monthly Deductions |
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Equals Monthly Net Income |
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