Many people like to use an envelope system to control the spending in these areas more closely. The daily living categories such as groceries, fun and fuel tend to be highly variable. Some of these could be envelope categories, but in general, these are for bills that you can set on AutoPay. These are your utilities, subscriptions, and other recurring bills that may be variable, but are pretty much consistent and predictable. Whether you list your mortgage as a big bill or a debt is up to you. If you have a lot of different debts, you may need to lump some of them into categories such as "credit cards" and "students loans." If you are using a debt snowball, only include the MINIMUM monthly payments in this section! The debt snowball is included in the Savings section. The point is that you have a place called BIG BILLS to remind you to budget for the big important stuff, the stuff that if you don't plan for, could break you. Whether you call some of these categories "sinking funds" or "short-term savings" doesn't matter in this worksheet. Some people like to track the savings for big bills in separate accounts, sometimes even a separate sub-accounts. You can divide in Excel using a formula such as =1500/12. For a monthly budget, divide the total average yearly cost of a large bill by 12. Things like medical bills, home repairs, and car repairs can be budgeted ahead of time so that you have the money when you need it. Nobody makes it through life without unexpected big bills. This would also be a place to pull out priority savings to apply the "pay yourself first" principle. If you pay a tithe (the "pay God first" principle), then you can multiply by a percent in excel using a formula such as =10%*B9 where B9 is the Total Income. This category is for making adjustments to your gross income, such as listing the tax withholdings and other deductions from your paycheck. They are designed to help you apply the 'Pay God First' principle, the 'Pay Yourself First' principal, the 'Debt Snowball' and 'Savings Snowball' techniques, the 'Sinking Funds' idea, and the 'Envelope Budget' system. The categories in this worksheet have a very purposeful structure. Step 2: Enter Your Budget (Savings and Expenses) If your income varies a lot, you can base your budget on what you expect the minimum for the month will be. If you get paid weekly, you can base your budget on 4 weeks. If you actually get paid biweekly, you may want to base your budget on just two weeks of pay, then use your extra paycheck twice per year to do something special. Also, if you need something similar, but you'd prefer me to custom make it for you, please contact me.If you are creating a monthly budget, list all sources of income for the month. Additionally it includes drop downs to make it easier to select the account you want to put things in.Ĥ) A easy to use mortgage calculate to understand how much you owe on your mortgage (or any other debt), and also what happens if you pay more or less than you currently are.Īs with any of my products, if you need slight modifications I am more than happy to help. It includes several features to help you manage your finances, including:ġ) A front page "dashboard" to see your overall financial planner.Ģ) A month-by-month report showing your income and expenses, allowing you to review each month compared to the others.ģ) An easy to use "register" to enter transactions. This easy budget template is also fully customizable, just change whatever names you need to fit your financial situation.Īdditionally, once you start typing in transactions, the report automatically groups and totals your transactions, showing how you are doing to budget. The item for sale is a easy personal budget spreadsheet, designed to work on excel.
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