Here's a way to create a budget that doesn't require a degree in mathematics. This worksheet breaks down each income and expense item for you — month by month*. Simply enter the amounts for each item, and all calculations will be done automatically.
Download this worksheet to your computer and begin!
Enter your take home income for the upcoming month.
Working item-by-item, type in how much you expect to spend on necessary expenses, like rent and food.
Add your regular monthly payments, like student loans, or any other type of installment loan. Include charges like your Internet Service Provider, gym membership or car insurance.
Estimate amounts for each optional expense listed. Then check your total shortage or savings (calculated for you) to see if you need to adjust any expenses.
Enter actual amounts for each income and expense item as they occur during the month.
At the end of the month, you'll see the difference between your budgeted and actual income and expenses. You'll also be able to track your status on a year-to-date basis.
In future months, make adjustments as necessary to your budget so that you continue to save the amount you wish each month.
* Budgeting worksheet compatible with Microsoft Windows only.
