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You can then use the numbers to prepare your new budget with accurate numbers in each spending category.
Bonus! If you've already been using Quicken or Money, you may be in luck. Both of these programs will allow you to print reports for categories that you may already be using when you enter items in the register. Once you get these reports, it's really easy to fill out the budgeting worksheet.
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Do you already know how much you spend in each category? Then start your budget right away with this free excel budget form |
Click here for a printable version
Budget Planning Worksheet (Income and Expenses) |
||||
|---|---|---|---|---|
|
Income |
Amount ($) | |||
| Month 1 | Month 2 | Month 3 | ||
| Your Pay (Take Home) | ||||
| Spouse's Pay (Take Home) | ||||
| Bonuses, Commissions, Tips | ||||
| Alimony / Child Support | ||||
| Rental Income | ||||
| Pension / Retirement Income | ||||
| Social Security Income | ||||
| Interest / Investment Earnings | ||||
| Other Income (list below) | ||||
| Total Income $ | ||||
| Fixed Expenses: | Month 1 | Month 2 | Month 2 | |
| Rent or Mortgage (include Principal, Interest, Tax, Insurance) | ||||
| Insurance (home, auto, life, disability, etc.) Don't include health if it's already taken out of your paycheck | ||||
| Taxes (not taken out of paycheck) | ||||
| Car Payments | ||||
| Misc Loan Payments (school loans, etc.) | ||||
| Savings (Regular/Emergency) | ||||
| Flexible Expenses: | Month 1 | Month 2 | Month 2 | |
| Debt Payments (credit cards, store cards, etc.) | ||||
| Utilities (Gas, Water, Phone, Electric, Cable, Etc.) | ||||
| Auto Gasoline | ||||
| Misc Auto (oil, repairs, maintenance) | ||||
| Food/Groceries (include dining out) | ||||
| Clothing | ||||
| Household Supplies (paper products, non-food items, etc.) | ||||
| Medical/Dental/Eye Care (not covered by insurance) | ||||
| Recreation/Entertainment (movies, vacation, videos, etc.) | ||||
| Church/Charity Giving | ||||
| Child Care (including babysitting) | ||||
| Education (private school, pre-school) | ||||
| Other Expenses (List) | ||||
| Month 1 | Month 2 | Month 2 | ||
| Total Expenses: $ | ||||
| Total Income - Total Expenses $ | ||||
Once you've filled out this worksheet for the last few months, you will be ready to fund your budget categories accurately.
Good luck, and remember that although this may not be a fun process, try to keep your eyes focused on the goal: a financially secure future! And budgeting is the first step.
Mvelopes Personal is an online budgeting system that makes it easy to create an effective personal budget and track every aspect of your spending as it happens. It will help you always know exactly how much you have left to spend, instantly know the impact of every spending decision, effectively manage credit card spending, and quickly create an easy to use household budgeting plan. Click here to learn more
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Personal Money Management Basics
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Did You Know... |
49% of adults, and 66% of US high school students got F's on a national test on their knowledge of basic economic principles.
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Food for Thought... |
"I'd rather go to bed without supper than rise in debt."
-Ben Franklin.
