![]() ![]() If your budget spreadsheet tracks your goals clearly, you are constantly reminded of why you are budgeting in the first place.Įven if your goal is just to get better control of your finances and save a little extra each week or month, any sort of budgeting goal will keep you on track. Financial goals may not seem like a vital part of the budgeting process, but listing your budgeting goals will keep you motivated. This is what you want to achieve and when. You should now have a complete list of your income and expenses, which we’ll use to fill in the spreadsheet in the creating your budget section. These spending patterns and behaviours can be called ‘spending leaks’ - we’re going to change your mindset to look at these instead as ‘opportunities to save’. It will also help you identify spending patterns and behaviours that could be better managed to save money. Look to have all fixed expenses debited out of a single account for better tracking.įollowing these tips will help you document all of your expenses for your budget spreadsheet.Analyse how much physical cash you withdraw and spend – try to not use cash ongoing.Analyse your credit card statement for spending patterns by categories.Here are some tips to accurately gather your existing expenses to document in your budget: Instead of trying to track these mini variable expenses, you might be better off stating ‘I have $50 per week for variable expenses’ and work towards sticking to this number. For instance, some days you may buy a coffee – other days you may not. Variable expenses are slightly harder to track and may require you to set yourself a daily or weekly budget limit to help cover these.Fixed (or recurring) expenses are easily tracked, as they are often a set amount on a regular date.There are also two types of expenses: Fixed and Variable. Listing your expenses quickly helps you establish whether you have enough money coming in to cover these. Your new expenses total $1,725 per month.You add a buffer of 15% which is calculated at $225.You estimate you spend $1,500 per month.When calculating your expenses, also factor in unexpected bills, such as unplanned car repairs.Ī good rule of thumb is to add an extra 10 per cent to 15 per cent. A forgotten bill really throws a wrench into your savings plan. Remember that being thorough when you add up expenses is important in creating a realistic budget. Some expenses are intermittent, such as insurance payments, so to get the most accurate financial picture you can calculate an average for six months to a year. Assess your expenses by consulting your bank statements, receipts, and financial files. Home Budget Worksheet - Our original selection of home budget worksheets.This is how much money you spend.Personal Budget Spreadsheet The 12-month version of the personal budget version.Personal Monthly Budget - Like the one above, but less detailed, and designed to fit on a single page.Family Budget Planner - This is the 12-month version of the household budget spreadsheet listed above.Money Management Template - Record transactions to automatically populate the budget vs.If you add or remove any categories, just make sure that the formulas used for the totals don't get messed up. If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: The household budget template contains a very detailed list of categories, which you may or may not need. The Monthly Budget Summary table totals up all your income and expenses and calculates the Net as Income minus Expenses. If you spend more than you budgeted, the Difference between the Projected and Actual values will be negative, and if your Actual income is less than your Projected income, the Difference will be a negative number. In this spreadsheet, the calculations are set up so that negative numbers are bad. The cells in the "Difference" column use conditional formatting to make negative numbers red. At the end of the month, you record in the "Actual" column how much you really spent during the month. This represents your goal - you're trying to keep from spending more than this amount. ![]() You record your desired budget for each category in the "Budget" column. The purpose of this worksheet is to help you compare your monthly budget with your actual income and expenses. ![]() You may also want to read the article " How to Budget". Our article " How to Make a Budget" explains how to use these spreadsheets to create your budget. You'll want to replace the values in the Home Expenses category with your own. To use this template, fill in the cells highlighted with a light-blue background (the "Budget" and "Actual" columns). 42 Effective Ways to Save Money Budgeting Tips for the New Year Using the Household Budget Worksheet
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