This is a budgeting for Dummies Worksheet that you can use to help you get started and make a budget. There are many different reasons why you might need to create a budget, which includes creating an emergency fund for unexpected expenses or even just to keep track of your income and expenses. The reality is that you can always save money and buy things that are close to your needs, but you need to have some sort of system in place to do so. This worksheet will allow you to keep track of your budget by the dollar amounts that you put into it each month.
Once you have created your budget, make sure that you put automatic payments on automatic. This will ensure that the money you put into your budget each month will be automatically deposited into your checking account on the due date each month. It is important to keep track of your bills to ensure that you are not overspending on your expenses because there are many people that use the bank statement as their priority when keeping track of their spending.
You can use this budgeting worksheet to list out all of the different items that you have to pay for each month. The easiest way to do this is to use a piece of paper and write down the date, the total amount of each bill, and the due date for each bill. Make sure that you do not include a term for each bill such as interest, taxes, or purchase price.
Make sure that you put all of your daily living expenses into your worksheet as well. Food, entertainment, clothing, etc. are all examples of how to categorize your daily living expenses. Once you have written down all of your daily living expenses for each category, it will be much easier to track your spending habits and put together a budget.
If you cannot figure out how to record your monthly income, then use one of the many payment plans that are available. You can put money towards the end of the month or before the end of the month. If you have any emergencies that occur, then make sure that you have a check sent out on time each month.
Once you have your monthly check, you can then deduct the expenses from your budget. You can put the payments towards the bills, put money towards paying off your credit cards, put money towards paying the car loan or whatever other expenses that you had. When you have your finances sorted out, make sure that you take the time to sit down and write a little something to remember how you came up with your budget.
After you have decided how much you are going to spend each month, take the due date and deduct your monthly bill from your budget. This will give you a good idea as to what exactly you are spending every month. Then, take the amount of money that you have left after deducting the monthly bill and subtract it from your budget.
By using this worksheet, you can use it to plan your own budget. The next time that you are out shopping, just go over this worksheet and see what you might be able to cut out. Then, when you have time to take a look at your bank statement, you can also review this worksheet and see where you might be able to save money.