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5 STEPS FOR STARTING A CRISIS BUDGETCRISIS BUDGET GUIDE
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Read the steps below, then use the form on the
right to create your new crisis budget.
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STEP #1
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Determine Your Family’s Current Monthly Income Level
Monthly income before crisis event: (Include all sources of income)
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-Determine what your total monthly income was BEFORE the crisis event (e.g., a job loss). Be sure to include all sources such as Social Security, alimony, disability, and child support.Subtract monthly lost job income: (This should be a positive number)-
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-Subtract the monthly income that has been lost.
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-Add monthly amounts coming from new income sources (e.g., severance and/or unemployment benefits and available savings). The resulting total is your adjusted monthly income.Add any new monthly income: (Include severance, unemployment benefit, savings)+
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STEP #2
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Make two written commitments
ADJUSTED MONTHLY INCOME= $ -
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-First, commit to live on your new adjusted monthly income.
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-Second, commit to incurring no new debt.PRIORITIZED EXPENSES
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ADD YOUR COMMITTMENT STATEMENT HERE:
I Commit to:		 Tithe
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 Taxes and Benefits
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 Housing (mortgage, util., ins., taxes)
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 Food
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 Transportation (gas, maint., ins., pmt.)
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STEP #3 Medical (doctor, dentist, Rx)
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Prioritize essential needs
 Other: ___________________________
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-Housing, food, transportation, and medical expenses should take top priority. Other: ___________________________
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-Stop discretionary spending on things like entertainment, manicures, or vacations. Other: ___________________________
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-Don’t stop giving “first fruits” to the Lord. Other: ___________________________
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STEP #4 Other: ___________________________
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Delay nonessential expenses
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-For example, put off buying clothes, giving gifts, or making home improvements.TOTAL EXPENSES

(Total should match adjusted
monthly income.)		 $ -
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STEP #5
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Analyze Monthly Subscriptions
Net Gain/(Shortfall) $ -
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-These are adjustments that may be temporary or permanent.-If there is a shortfall, adjust expenses downward and/or increase income.
-Remember, commit to incurring no new debt!
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-Include such things as magazines, gym memberships, cell phones, and cable television.
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