Please see example attached.
PSYN 665 | Dr. Bava Your Name:
Creating a Professional Budget
Create your budget, by completing the 3 steps: Expense, Income & Net Income.
STEP 1: EXPENSES per month
Use the source column to do you research to estimate the expense per line item. All annual items (in
Blue*) will be divided by 12 to calculate the monthly cost.
|
Item |
Monthly Cost |
Source (to research the cost) |
|
Rent |
$200-400/one day of the week for the month; Or Hourly Rates: $20-30/hours. Rent varies by location. You might want to fill this after step 2. See ads: |
|
|
Teletherapy Platform |
See: Some sites include Electronic Medical Records (EMR etc) e.g. all in one: |
|
|
Phone |
||
|
Marketing (Ads, website, Business cards) |
· Directory listing in Psychology Today: $30/mth · Therapy Sites: · Business Cards: Enter based on your research |
|
|
Office supplies (water, coffee) |
$20 |
|
|
Networking |
Taking people for lunch, attending networking events |
|
|
Supervision |
$100/hr Multiple by 4 weeks and enter the amount to your left |
|
|
Licensure* |
$98/year |
|
|
Liability Insurance* |
210/year (Varies based on no. of clients/week). See |
|
|
Professional Membership* |
AAMFT Membership Dues: |
|
|
Annual Training (CEUs)* |
$500-1000/year (Select an amount from with this range & divide by 12 to enter the amount on your left) |
|
|
TOTAL EXPENSES PER MONTH (X) |
STEP 2: INCOME PER
MONTH
To calculate your income complete this formula by deciding the following:
1. How many clients will you see per day = A =
2. What will you set your fees at = B = $/hour =
3. How many days per week will you work = C =
4.
Income
Formula:
A*B*C*4(weeks) = Estimated income (Y) =
· Example: if I see 6 clients per day (A) at the rate of $130/hour (B) & plan to work for 3 days (C) then my
income for the month will be: 6*130* 3*4=$9360
· This would imply that I would have to rent an office for 3 days. So if my office costs $250/day, for 3 days it will cost $250*3= $750 (this will be the figure I will include on the “Rent” line above.)
·
(Remove the above example & add your calculations here)
STEP 3: Calculate your MONTHLY NET INCOME=>INCOME (Y) – TOTAL EXPENSES (X) =
