Monthly budget sample personal city software#

If your income comes in on a regular schedule, consider doing it so you don’t even have to think about moving money to savings.

Automate where you can: Many bank apps allow you to set automatic transfers to savings accounts.

'Leaving savings to 'whatever’s leftover’ usually results in little to no savings,” he adds. When you treat savings like a bill you must pay you're much likelier to actually do it, he says. Enright recommends you build it into your budget as an expense so you treat it like the priority it is.

Make savings an expense in your budget: While saving 20% of your income might not be feasible for everyone, putting away money in case there's an emergency is still critical.

He suggests trying to make your purchases with cash only for a month and see if you save any money.

Pay with cash: While using a card to checkout can be easy and convenient, it doesn’t have the same emotional response as handing over cash, Enright says.

This makes you accountable to stick to what you started.

Hold yourself accountable: 'Start budgeting with a friend, find online communities to join budget challenges or hire a budget coach to set you up for success,” Saephanh says.

Saephanh recommends pinning your app to your phone or browser’s home page so it’s in front of you every day.

Monthly budget sample personal city software#

Use tools that are easy for you to understand: If your budgeting software requires a lot of math or data input, you'll be less likely to stay on top of it.Home Budget - Our original selection of home budget worksheets.If you dont have a regular income, work out an average amount. Record how much money is coming in and when. For example, if you get paid weekly, set up a weekly budget. But the income source won’t be your part-time paycheck. Use how often you get paid as the timeframe for your budget. You don’t want to buy a 160,000 education when you can get the same value for 26,000. That’s not to say tuition costs don’t matter. Family Budget Planner A yearly budget planner, with the same categories as the household budget spreadsheet. You can use savings (yours or your parents), scholarships, or student loans to cover this expense.Household Budget Spreadsheet (monthly) - More detailed and includes child expenses.Personal Budget Spreadsheet The 12-month version of the above spreadsheet.Money Manger - A more advanced budget management tool for Excel.After making a change, you should check the formulas to make sure they are still correct. If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: You need to be careful when adding or removing categories, to avoid messing up the formulas used for calculating the totals. The Monthly Budget Summary table in the upper right of the worksheet totals up all your income and expenses and calculates your Net as Income minus Expenses. So, if you spend more than you budgeted for, the value in the Difference column will be red - to help it stand out as a warning. The spreadsheet uses the accounting format where negative numbers are in parenthesis like (115.00), and conditional formatting is used to make the negative numbers red - red means bad in this case. We live in the south, just about 20 to 30 minutes from our state’s capital and major downtown city. The calculations in the 'Difference' column are set up so that negative numbers are bad. In this family budget example, you’ll see exactly how we manage to create a budget for a family of 4. Using the Personal Monthly Budget Template Now, out of this 3,000, let’s say you want to contribute 10 to charity and save up 10.

See our articles Make a Budget and 5 Basic Budgeting Tips if you are just getting started or new to budgeting. What is an example of a personal budget Let’s say that you have 3,000. At the end of the month, you record in the 'Actual' column how much you really spent during the month.įor a more detailed set of budget categories, see the Household Budget worksheet. For Henry and Janine, their baseline monthly spending budget is 3,430. This represents your goal - you're trying to keep from spending more than this amount. Once you have calculated the amount you spend each month on these necessities, you have your baseline spending budget. You record your desired budget for each category in the 'Budget' column.

The purpose of this type of budget worksheet is to compare your monthly budget with your actual income and expenses. Some numbers are included in the Home Expenses category as an example, but you'll want to replace those numbers with your own.

To use this template, just fill in numbers that are highlighted with a light-blue background (the Budget and Actual columns).