Simple Methods for Creating Budgeting Worksheets
There are some very simple methods for creating budgeting worksheets that will help you make the most of your budget. Having a budgeting sheet available to you each month can really help you to keep track of all your expenses. You’ll begin to gain confidence in yourself and your ability to manage your finances better because you’ll always be certain your money is being spent on the important things in your life.
3 Simple Methods When Creating Your Budgeting Worksheets
- Find a worksheet template – Take advantage of the excellent worksheet templates that are available these days. There are a bunch of great free ones online that you can just print off or download instantly. If you have excel on your computer, perhaps get an excel template instead.
- Keep all your bills together – By having all your bills and expenses in one place, it will make your job that much easier when it comes time to enter the numbers into the worksheet. Make sure you don’t get bills from different time periods mixed up.
- Spend extra time looking for the perfect match – When you search for a worksheet template, make sure you don’t just choose the first one you find. Spend a little extra time looking for one that meets your specific needs. You’ll thank yourself later because the extra time you spend here will save you a lot of time later on. You’ll also more likely stick to the one that you live and makes your life easier.
How to create your own budget worksheet using excel
Tips for Budgeting with a Family
Budgeting is important for everyone, but when it comes to family, it’s even more important. A good budgeting worksheet will help you track your entire family’s expense and understand which areas need improvement.
This will be extremely beneficial to you and your family especially if you have more than 1 person in the household earning and bringing home income.
A lot of families that don’t take the time to create a working budgeting sheet often find themselves pacing at the end of the month with no more money left for saving or investments.
Here are a couple simple tips to follow when budgeting with a family:
- Keep track track of all expenses especially the recurring monthly and yearly payments (rent/mortgage, hydro, telephone, gas, electricity, etc.)
- Monitor the average amount of money spent on food each week and come up with a monthly average
- Budget for other monthly expenses which are not recurring but come up often. Example of this would be clothes, leisure, etc.
- Monitor each expense category and determine which ones to cut back on if monthly income does not cover the expense. Never spend more than you make and never spend in anticipation of what you might be making. (Things don’t always go as planned so you should be prepared for that)
Using budgeting worksheets to get the most from your budget
Having a worksheet helps relieve a lot of unneeded stress when it comes to managing your budget and it allows you to simply concentrate on the simple task of plugging in the necessary numbers and doing the calculations systematically.
A simple budgeting worksheet also allows you to return to a snapshot view of your current finances every week or even every day.
This helps you get a quick picture of where you currently are, and an approximation of how much you can afford to spend. You will feel a lot better about making a purchase when you know that it is well within your current budget for that week or month.
Make sure you learn to keep your priorities straight. It’s often easy to get swept away with the stress of work and family but you must always remember your financial responsibilities or you will build up a lot of extra avoidable stress over time.
Remember that a budgeting worksheet is simple to build but it can have a tremendous impact on you and your family, and the more you save the more secure you will feel. This is the first step towards living a comfortable and rewarding life even if you’re not able to increase your income.