![]() Let’s have a look at their ideal budget, their actual budget, and their monthly spending-all lined up on the first tab of the weekly budget template: They own a house, and both have car payments. They have two kids-one’s in school, and one’s in daycare. Between the two of them, they earn $2,000 a week. The single-male budget was pretty simple, but perhaps you’re interested in an example of a household budget with kids and pets. (Sidebar- We also offer debt snowball tools if you want to get out of debt.) Not good, Reggie.īy overspending in the month, his credit card balance went up, so his minimum payments will likely jump as well, making it even harder for him to stick to his $3,000 budget next month. He made $3,000 and spent $3,465 that month. Let’s say Reggie gets through one month of recording his actual spending.īy viewing the budget chart, it’s pretty clear Reggie overspent in “Auto,” and he blew it in “Food” and “Personal” as well (see the mountains of light-blue bars).īy looking at the table, you can quickly see he overspent in the following categories: Monthly budget example with actuals: The single guy Personal-he’s spending more on himself than he can afford, considering his income. He’s got student loans and credit card debt. Second, it looks like he’s overspending in the following categories:Īuto-his car payment is weighing him down.ĭebt payments-ideally, he shouldn’t have any. the monthly budget for this single guy.įirst, he’s not saving any money and not giving either (not good for his future or his personal well-being). ![]() He has no kids or pets, so we have zeroed out those sections. ![]() Here’s what this monthly budget example looks like: His other expenses are pretty common and straightforward. He spends about $150 a month on groceries and rarely goes out to eat. I’m certain I’m not alone.įree Budget Calculator (Excel For Single or Family Household Spending)įree Weekly Budget Template (Simple Budget Planner Spreadsheet)įree Monthly Budget Template (Simple Budget Tracker Spreadsheet)Īnd if you are interested in beefing up your savings, check out these posts for the best saving accounts:įirst up, the single guy (we’ll call him Reggie) with some pretty straightforward income and expenses: I was not paying attention to the budget-time to refocus and get back into it. Our savings accounts are dwindling, and I didn’t see it coming. My wife just called an emergency budget meeting. Vet bill for our dog (abscessed tooth): $1,500 These were our expenses in the last two weeks:įlight tickets for our February vacation: $1,500 ![]() I’m supposed to be super smart about money. Alternatively, if the balance is growing from month to month, you are on the right track and you should probably look for good investment opportunities with the potential to increase your income further.I’m a personal finance expert. If the end balance is lower than the starting balance, you need to look for more ways to save or increase your income. Additionally, you can see the End Balance, specifically the difference between the amount in the Starting Balance and the End Balance of the actual expenses column for the month. The Monthly Budget Total section at the top provides the difference in the overall income and the quick overview of your budget. Of course, this may not always be the case and some expenses can sometimes be unavoidable, in which case you can always look for other expenses that can be limited or eliminated. It helps to spot expenses in various categories where you might have overspent and potentially help you to prevent doing this again. Household Budget Planner lets you see the estimated and actual income and expenses side-by-side, which is very convenient, especially when you update your spreadsheet regularly. At the end of the month, when all actual Income and Expenses are recorded, the Household Budget Planner provides a detailed summary of where you stand financially. Updating the actual income and expense section regularly as incurred throughout a month ensures the accuracy of your budget and prevents from overspending. For example, this could be your accumulated savings during previous months. The starting balance is the money that you have at the beginning of your budget before you factor in any current or future income. In this section you should also enter your starting balance, whether it is positive or a negative amount. Predefined formulas in the "Monthly Budget Total" section are responsible for summarizing your budgeted and actual income and expenses. Categories are equipped with a row that calculates the "Total" for the group. In the income section you will need to enter your monthly income expected from each of your income sources. How to use the Household Monthly Budget Spreadsheetīegin by entering values in the Budget column of each category.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |