All of us know how painful it is to keep the budget in check. Whether it’s a monthly budget or yearly budget, it’s always difficult to keep all the expenses under check. But with the help of some budget templates, you can cut down your expenses and save money. Here we have 10 useful budget templates that will help you to keep your monthly budget in check.
Our goal with this article is to show you how to get your finances in order in a simple, inexpensive way — while still allowing you to expand your spending on lifestyle items like vacations and shopping. We’ve created budget templates for 10 different spending categories and 10 different income sources, and we’ve included tons of details about each template so you can tailor it exactly to your situation. No more guessing how much money you’ll be saving or how much you’ll be spending—just fill out the information and let our templates do the work!
The phrase “money won’t buy happiness” is often quoted. But is it true? It depends on what you spend money on. If you spend money on material possessions that will soon lose their value, you are unlikely to experience happiness because you are constantly comparing your life with what you have. If you spend your money on the items that make us happy, you will experience happiness regardless of your income.This post may contain affiliate links. Read my information for more information. A monthly budget template sounds simple enough, but it’s a powerful tool. Since the point is not to make more money to avoid living from paycheck to paycheck, it is important to manage your income and expenses . In total, nearly 80% of us will never live from paycheck to paycheck. But believe it or not, a recent study by Market Watch found that 20% of people earning more than $100,000 a year are still living from paycheck to paycheck . We were surprised that a simple spreadsheet with a monthly budget over several months immediately showed where we were losing money. Yogi Berra once said: If you don’t know where you are going, you might end up somewhere else. I know it’s not very clear, but using the monthly budget template really got us thinking about what we want to do. We can all do some things, but not all. And because money is the key to so many things we can do in life, mastering it can open many doors.
How would a monthly budget template help you?
Budget templates are useful in two ways:
- You’ll gain time. You will be able to track your spending much faster.
- Each month you will see a comparison of your apple spending to see your progress.
Despite the fact that using a budget is essential to move from one salary to another, most people do not use it. Whatever the reason, the bottom line is that nearly 80% of us live from paycheck to paycheck throughout our careers.
How would you use the budget template?
A monthly budget template is simply a list of all expenses categorized by category.
- You can choose the format that suits you best. A spreadsheet, attachment or pre-printed sheet.
- Then simply scan your bank statement each month and categorize your expenses.
- Looking at your spending habits for things like groceries, clothing, or entertainment is very revealing, and looking at each month individually can very well identify savings opportunities.
10 simple budget templates to track expenses easily
If you’re just starting to make a budget or just want to write it down, this article will help you do that. It offers simple one-page budget categories that you fill out each month and then compare to the previous month. You can track your expenses and identify categories where you can save money. Apps and spreadsheets are great, but if you prefer to work with pen and paper, it still helps you go from paycheck to paycheck. Simply enter your income, savings and expenses and you will automatically see your net income displayed below. Then go to the second page and write down what went well, what areas you will focus on and what budget you are planning. It’s easy to design and is one of the easiest budgets in Google Sheets! Here is another Printable Crush option if you prefer to record your expenses. There is no shortage of categories here, and they are clearly divided. If you really want to focus on cash flow, you can track your expenses weekly instead of monthly. Here is a nice, simple weekly budget template from Real Advice Gal , which will help you set a budget for each day. This simple spreadsheet makes budgeting a breeze. Enter budgeted amounts and enter actual amounts each month. The actual amounts are automatically added together and the totals are shown below. Then click on the Net Worth tab and use the handy automatic net worth calculator: RELATED TO:
Free spreadsheets are very useful, but what about budget applications?
To begin budgeting, it is sometimes best to take a simple approach. All of the above free budget spreadsheets can be easily downloaded and used immediately. But if you need things like reminders, forecasts and charts in the future, here are some of the most popular budgeting apps: If you are not familiar with Personal Capital, is a rather unique and easy to use tool. Not only does it have a simple budget planner, but it also monitors all your accounts – savings, checks, investments and debt. And based on that, your net worth is calculated and displayed as a . This is important because your net worth is the fastest indicator of whether you are getting richer or deeper in debt. By keeping an eye on your net worth on a monthly basis, you can spot problems before they become problems. This helps you to maintain this gradual upward trend. You can make predictions about when you can retire and see what happens if you increase your savings or reduce debt. It will also analyze your investment costs and alert you if you are paying too much. You can use your personal capital in two ways:
- You can just download the application and use it for FREE, which is what I do.
- Or you can pay someone to actively manage your money. However, there is no obligation.
The free app is not a stripped-down version that robs you of many features. It’s a comprehensive tool that will not only help you balance your account this month, but also give you a better idea of your overall financial health. Here is my Personal Capital ireview if you want to know the main features. Mint is one of the most popular budgeting apps because it is very easy to navigate, can be used anywhere and is FREE. You can create or maintain your simple budget spreadsheet at home on your laptop, but it’s nice to be able to grab your phone at the mall and quickly check your budget before you splurge on new shoes. Creating categories is easy and Mint will ask you all the questions you want. Here is a typical Mint output configuration screen: Mint can do more than budgeting. It helps you manage your money by reminding you of upcoming bills. Or if you plan to make a purchase, you will be notified if you spend more than your category limit. I love the intuitiveness of adding new songs. A specific category is suggested, but you can also make your own selection or even rename the categories. Mint can make managing a budget much easier, and I’m surprised it’s still FREE. YNAB likes to say that it gives every dollar a job. in other words, it is a zero-based budget. It tells you how to budget every dollar of your income, down to zero. Some of the features I like:
- It is flexible and allows you to add and change categories according to your situation.
- At the top of the screen you will see a nice summary: Total cash flow for the month, total budget for the month and total activity for the month.
- You can import transactions directly from your bank. Once the transactions are imported, they must be categorized.
- You can split import transactions into multiple categories – for example $100 at Target can be split between groceries and household items.
- YNAB also allows you to set multiple savings goals and track your progress.
YNAB also asks about expenses that don’t necessarily occur every month, such as. For example, car maintenance or water bills. This will help you set aside money each month to prepare. YNAB is not free; it costs $6.99 per month. But they do offer online support and a full money-back guarantee for any reason. Dave Ramsey’s Every Dollar app does exactly what the name suggests. This is another zero-based budgeting tool that helps you enter your income and expenses and then assign a task to each dollar. Whether your pay is split between bills, debts, savings or expenses, it shows you exactly where everything is going. I like zero budgeting because it allows you to immediately identify the leaks that are preventing you from adding a few hundred dollars every month. If you’re trying to raise money for urgent needs and discover you’ve spent $200 at Target or $300 in restaurants and on takeout, it’s a serious wake-up call. If you are a Microsoft Office/Excel user, there are dozens of budget templates you can download f from Microsoft. Everything from personal budgeting, family budgeting, Christmas or holiday budgeting, house building, events, university spending….. Well, let’s just say they have a lot.
Using a monthly budget template can turn a frustrating task into an easy one. The process of identifying money losses and then seeing your net worth gradually increase each month is very motivating. But before you start entering the numbers, there’s one step you shouldn’t skip. Budgets are a valuable tool, but it’s not just about counting numbers….. How do you know how much to spend on things like housing, utilities or entertainment? Your sister can spend $200 a month on entertainment, but what’s best for you? What criteria do you use to plan your lifestyle – for example, where you live, what you drive, what you eat and how you spend your time? The only way to get a personal budget model that works is to first determine what your goal is for the next few years. Finishing school, buying a house, moving, paying off debts, starting your own business, or maybe taking a trip? According to Investopedia, the main reason to use a budget is that it forces you to set your goals. Where do you want to be in 3 to 5 years? Once you understand this, many other spending decisions will be easier to make.
- What you want to achieve will determine your choice of apartment or house.
- Your goal will be to motivate yourself to pay yourself first every week.
- You’ll have other priorities, like a new car, cable TV or weekend plans.
- They become more careful in their spending, from food to fitness.
A simple budget will help you go from paying your bills to getting what you want in life. But it’s up to you. And if you do, one of these printable budget planners will make it easy. What about you? Are you currently using a budget, or can any of these points help you?
Other ways to better manage your money:
Simple templates for budgeting for the month – the last change : 4. May 2021 by [email protected]Budgeting is a topic that many people are reluctant to discuss. Our financial situation is what determines our quality of life, and we often find ourselves living paycheck to paycheck. By approaching budgeting the right way, we can be more successful and achieve our financial goals.. Read more about simple budget template pdf and let us know what you think.
Frequently Asked Questions
How do you create a simple monthly budget?
Budgeting is a challenge because it requires you to track and plan your expenses while still trying to live a regular life. People who are good at this often do it to save money for an important purchase, to pay off debt or to save for retirement. No matter your reason, you need a plan. There are many budgeting tools available online that aim to help you achieve this goal. Some offer templates, while others let you organize and share your spending habits with friends and family. There are a lot of different ways to create a monthly budget, and each person will have a slightly different way they would like to create their budget. The budgeting process is a good way to see where your money is going, and a good way to keep yourself from being tempted to spend it on things you don’t need.
How do you create a simple budget sheet?
A budget can be a valuable tool to help you manage your finances. A budget reflects how you spend your money—what you spend on each category and how much you can spend. As you can see, you can use a budget to help you determine where to cut back to save up for a downpayment, or where to spend more to cover your bills. An organized budget can help you visualize your money, and it can help you stay on track when it comes to saving for a big purchase or a big expense. Many financial planners recommend creating a budget to keep on top of your money when you are making financial decisions. While this may help you reach your financial goals, budgeting can be a very tedious process. In this post, we’ll share with you 10 very simple budget templates that will help you budget and track your spending. You may never need to use them, but you’ll see that once you make a budget, you’ll be able to make better financial decisions that will help you reach your goals.
What is the best budget template?
There are 10 budget templates that will help you manage your monthly expenses with ease. These templates are beautifully designed, so you won’t need to worry about spending too much time on the task of creating them. All you need to do is pick the template that suits your needs and start saving. It’s the one topic, that everyone loves to hate. We hate it, because we’re busy and don’t have time to organize our finances well and we hate it because we have too many bills to pay and we hate it because we don’t know who to trust. It’s not easy to make a good choice, because there are so many options out there. However, there are some very good budget templates out there that are designed to help you save and make good decisions, to help you keep your finances in check.
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