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Conscious Spending Plan

Financial planning tool based on Ramit Sethi's "I Will Teach You To Be Rich"
For more information on Ramit Sethi, his book and his recommendations, visit
his website
⁠
!
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Want to make this doc your own? Get your own copy
here
⁠
!


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This doc uses your input net income (after taxes), Ramit’s recommendations, and your personal goals into account to compile a personalized conscious spending plan.
By the end of this doc, you’ll have a clear picture on your spending, investing and saving, complete with action items to take with you!

How much money do you make?

Net Income:
​
⁠
,
Bi-weekly (Twice a month)
⁠
⁠
That comes out to be
$0
⁠
per month

How much do you want to be spending on each category?

Make this number ➡️
100%
⁠
= 100% by balancing the target %s below

Fixed Costs

⁠
​
⁠
Update
⁠
⁠
Ramit recommends you spend ~50-60% of your net income on this

Investments

⁠
​
⁠
Update
⁠
⁠
Ramit recommends you spend ~10% of your net income on this

Savings

⁠
​
⁠
Update
⁠
⁠
Ramit recommends you spend ~5-10% of your net income on this

Guilt Free Spending

⁠
​
⁠
Update
⁠
⁠
Ramit recommends you spend ~20-35% of your net income on this

What do you spend now?

For each item, enter how much you spend in Current Spend, and use the Frequency column to show if that value is a monthly or bi-weekly value.
Category
Item
Current Spend
Frequency
Guilt Free Spending
1
Guilt Free Spending
​
​
Fixed Costs
10
Utilities (gas, water, electric, internet, cable, etc.)
​
​
Insurance (medical, auto, home / renters, etc.)
​
​
Car Payment / Transportation
​
​
Debt Payments
​
​
Groceries
​
​
Clothes
​
​
Phone
​
​
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.)
​
​
Miscellaneous (account for the things you may have forgot about elsewhere)
​
​
Rent / Mortgage
​
​
Investments
3
Post-Tax Retirement Savings
​
​
Stocks
​
​
All other
​
​
Savings Goals
4
Vacations
​
​
Gifts
​
​
Long Term Emergency Fund
​
​
All other
​
​
⁠
As entered above, you spend
$0
⁠
/ month. That is
⁠
of your indicated income.
⁠

So to summarize, how much are you spending in each of your spending categories?

Yellow indicates you are more than 5% away from your targeted spending in that category.
Category
Goal Category %
Goal Category $
Current Category $
Current Category %
1
Guilt Free Spending
25%
$0.00
$0.00
​
2
Fixed Costs
55%
$0.00
$0.00
​
3
Investments
10%
$0.00
$0.00
​
4
Savings Goals
10%
$0.00
$0.00
​
There are no rows in this table
⁠

What adjustments do you need to make?

Use the guidance provided above to edit your current spending goals in the table below. As you update the Current Spend column, the table above will update. Once you get close to your goal % and $ amounts, you can move on to the next section!
Category
Item
Current Spend
Frequency
Guilt Free Spending
1
Guilt Free Spending
​
​
Fixed Costs
10
Utilities (gas, water, electric, internet, cable, etc.)
​
​
Insurance (medical, auto, home / renters, etc.)
​
​
Car Payment / Transportation
​
​
Debt Payments
​
​
Groceries
​
​
Clothes
​
​
Phone
​
​
Subscriptions (Netflix, gym membership, meal services, Amazon, etc.)
​
​
Miscellaneous (account for the things you may have forgot about elsewhere)
​
​
Rent / Mortgage
​
​
Investments
3
Post-Tax Retirement Savings
​
​
Stocks
​
​
All other
​
​
Savings Goals
4
Vacations
​
​
Gifts
​
​
Long Term Emergency Fund
​
​
All other
​
​
⁠

Congratulations!

You have completed your conscious spending plan. Now, where to go from here? Do you need to cancel subscriptions, automate transfers to savings accounts, up your guilt free spending? Add those items in below:
⁠
Add task
⁠
⁠
To-do list
Done
Task
Amount
Due date
1
[Automate transfer to Roth IRA]
​
5/5/2023
2
[Cancel X subscription]
​
5/5/2023
3
[Negotiate higher credit limit]
​
5/5/2023
4
[...]
​
5/5/2023
There are no rows in this table
⁠



feedback

Have feedback on how this could be improved? Send it to the creator, at adamchrisweir@gmail.com


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Want to show the creator of this resource some love? Send some their way on Venmo, at @AdamCWeir



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