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Financial Worksheet: Net Income Calculator

            Calculating your Monthly Income      
Take home pay (after taxes and other deductions) $

Rental Income $

Interest / Investment income $

Take home pay (all sources) $

Other Income (child/alimony payments etc.) + $

            TOTAL MONTHLY INCOME = $

Converting your Income to a Monthly figure
If you are paid:
  • Weekly, multiply your net pay* by 4.333
  • Bi-weekly, multiply your net pay* by 26, then divide by 12
  • Semi-monthly, multiply your net pay by 2
If you receive any bonuses or interest:
  • Annually, divide by 12
  • Semi-annually, divide by 6
  • Quarterly, divide by 3

* net pay is your take-home pay after deductions and taxes

Monthly Expenses    
Housing Expenses      
Rent or Mortgage payments $

Property Taxes $

Electricity $

Heat $

Maintenance and Repairs $

Cable TV (special channels), Appliance rental, $

Telephone/Internet service $

Home furnishing etc. $


Car/Travel Expenses      
Gas/Oil $

Insurance and License $

Parking $

Repairs and Service $

Public Transportation/taxis $


Living Expenses
Groceries $

Child day care/babysitter $

Clothing $

Personal care items -Dry cleaning/hairdressing $

Magazines, Newspapers, Books, Video rentals $

Eating out, Entertainment, wines and spirits $

Vacations $

Normal every day spending money $

Donations $


Regular Monthly Payments      
Regular savings programs (Bank A/Cs, CBSs etc..) $

Pre-authorized contributions - RRSPs-education fund $

Car (Loan or Lease) $

Personal loans $

Credit Card/Charge Account $

Child/alimony payments etc. $

Insurance (Life/Medical/Disability) $

Other $


            Monthly Net Income      
Total Monthly Income $

Total Monthly Expenses - $

            MONTHLY NET INCOME = $



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