Determining your salary requirements

Estimate the monthly costs of living your life. Be sure to include monthly allocations for expenses that you pay less frequently (e.g. car registration). If you are working out of your home, you may share the cost of some expenses with your business. Making an accurate allocation is important when you file your taxes. For the purpose of this exercise, inclusion somewhere is more important than the proper allocation between living and business expense. Be careful not to double count expenses.

Housing

Mortgage/Rent	$
Homeowner's/Renter's insurance	$
Property taxes	$
Home owners dues	$
Cleaning service	$
Total Housing:	$

Car expenses

Car payment	$
Gas	$
Maintenance/repairs	$
Insurance	$
Registration	$
Parking/garage space	$
Total car expenses:	$

Utilities

Personal telephone & fax	$
Internet service (email, access, hosting)	$
Cable TV	$
Trash collection	$
Electricity/gas	$
Water	$
Total utilities:	$

Other

Grocery food	$
Personal dining out	$
Clothing	$
Dry cleaning/laundry	$
Savings	$
Vacations	$
Banking fees	$
Alimony/child support	$
Credit card payments	$
Other loan payments	$
Travel and entertainment	$
Postage/shipping	$
Donations	$
Health insurance (if not covered by business)	$
Other insurance	$
Subscriptions/dues	$
Self-employment tax	$
Miscellaneous	$
Total Other	$

Total Estimated Monthly Living Expenses	$
	Calculate Total

This is the minimum amount you will need in "salary" from your business.

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