#Budget spreadsheet plus#
#Budget spreadsheet download#

Monitoring your spending and categorizing these is very helpful when you need to make some adjustments. It is also helpful to have an extra income source, more especially so if you ever end up losing your job. If you have a hobby to sustain, find another way to add to your income. Net Income refers to your final take-home pay and this is the value you must use when creating your budget. Always remember that it’s very easy to overestimate what you can afford when you think that your entire salary as the amount you can spend.Īlways take into consideration when creating your Excel budget spreadsheet to subtract deductions and other flexible spending allocations.

This is the first step when creating your budget – to identify how much money you have coming in. Here are steps to consider when creating your template: When creating your own personal finances template, you should find a way to keep track of your finances to suit your objectives. Having a personal budget spreadsheet helps you feel in control of your finances, allowing you to save money for your personal goals. How do I create a personal budget spreadsheet? Additionally, a personal budget helps you make better decisions when it comes to your expenditures and savings.

#Budget spreadsheet plus#

You can perform an analysis each month to help you obtain an estimated image of the total savings target you aim to achieve plus the amounts that you can potentially set aside towards your savings. To achieve successful budgeting, you might want to include in your personal expenses template a savings goal that you set for every month. The most common sources of income include the following:

#Budget spreadsheet download#

Use one of these tools to help you pay down your debt! POWERPAY – Helping Debtors Become Savers Debt Reduction – Download a free Debt Reduction spreadsheet from personal budget spreadsheet contains the details of your possible income sources as amounts received from various sources. Looking to reduce your credit card debt? Are you looking to get rid of that credit card debt? Personal 11%: Club dues, admissions, hobbies, postage, tobacco, cosmetics, hair cuts, vacations, and holidays. Transportation 13%: Gas & Oil, repairs, insurance, parking & public transportation. Gas, electricity, water, trash, sewer and telephone.įood 13%: All food items, dining out, and pet food.Ĭlothing 5%: All clothing purchases, shoes and alterations. Housing and Utilities 28%: Mortgage, rent, property taxes, insurance, repairs and improvements. If one area of expense becomes too great, you’ll see that ratio is too high and can begin to cut back. A spending ratio is simply the percentage of money, as it relates to your disposable income (your total income minus income tax on that income), that you use for a particular area such as housing or entertainment. When it comes to figuring out where you need to cut expenses, you’ll find spending ratios to be useful tools. You can either control your discretionary expenses (skip the vacation this year) or limit your non-discretionary expenses (move into a smaller place, cut back on the thermostat, etc.). When it comes to budgeting, and trying to find extra money, it is the discretionary expenses are the ones to curtail. Non-discretionary expenses are things you MUST pay for or buy (food, rent or mortgage, car payments, utilities), while discretionary expenses are those that aren’t necessary (vacations, entertainment, memberships). Mortgage, Rent, Car Payments, Auto Insuranceįood, Utilities, Entertainment, Vacations variable expenses you break them down into non-discretionary vs. Fixed expenses are items that don’t vary in amount from month to month, while variable expenses do vary from month to month for various reasons.After you have figured out fixed vs. Expenses are broken down to fixed and variable. Some common routine expenses include: housing, debt, insurance, taxes, transportation, health care, entertainment, personal, children, giving, vacations, recreation, saving/investing. You budget should include everything you spend money on, right down to toothpaste to your daily coffee. Military_Budget_2019-04 (You need Microsoft Excel to use this file) We have a budget spreadsheet that you can use to create your budget or you can create your own. If you create a budget and follow it, you can avoid some of the traps that others fall into such as: too much debt, too little savings, too much spending. Most people don’t like creating or using a personal budget since it usually means having to do without. A budget is a way of keeping track of the money you earn and what you plan on doing with it.