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#Budget spreadsheet how to
#Budget spreadsheet download

Will this extra amount be enough to pay down my credit cards or debt?.

Now you have a rough idea how much overflow you will have each month. This amount will be an approximate amount since we’re taking a 3-6+ average and subtracting it from a projected amount.

#Budget spreadsheet download

See Budget Spreadsheet – Variable Expenses in the free budget worksheet download below. Write your new amount under each variable column for your new budget amount and then calculate the approximate difference from the average. Is this a reasonable amount for your budget or should you go even lower? Once you’ve identified areas to reduce spending, look at the months you spent the least.

If your spending is under control and you’ve cut what you could from fixed expenses but still know you need more cash flow, you may need a temporary second job or need to take advantage of government assistance. Anytime you have above the amount in a particular category you can place that amount in savings or add to your house payment, for example. This will prevent your family from going into debt. In this case, take your averages as they are today and move forward with a budget, without cutting anything. Your spending may be under control, but that doesn’t mean you don’t need a budget. Related: Why You Should Never Withdraw Money from the ATM For more ideas check out 44 ways to easily save money. I don’t have cable, so I’m here to tell you it’s very much possible to live without it.Īnother unpopular place to save under Fixed Expenses is with our Internet and Phone bill. One obvious but unpopular way is cutting out cable. There is almost always room under Fixed Expenses for improvement for everyone. If so there are a few ways to approach this.

Is there an entire category you feel your family can do without?ĭo you feel all your spending is under control?.

Did you overspend one month for a specific category that brought your whole average over?

Compare month to month for some categories.

Are any of the categories higher than other categories in ways that don’t make sense? For example, is Meals Out higher than Groceries?.

Are any of the categories higher than you expected?.

The free budget worksheet above walks you through this.

Once you have gathered 3-6+ months of your spending data, figure the monthly average for each category.

#Budget spreadsheet how to

Related: Teach Your Child How to Create a Budget Step 2: Analyze Spending You most likely won’t find substantial savings in these areas, although there is some room, see below. You can gather this information from last month’s bills. You don’t necessarily need 3-6+ months of data to fill this category in and for this reason it isn’t inside in the worksheet. These expenses are the ones that don’t change or the ones you don’t have much control over, although sometimes you can opt to pay more. Related: 10 Effective Ways Single Parents Can Cut Monthly Expenses Fixed Expenses These are expenses that change each month and the ones you have the most control over. How to break your purchases down: Variable Expenses

not paying off bills fast enough which could make you give up.

setting easy goals and not saving much money at all or.

setting too strict of restrictions and you’ll give up early or.

If you fail to do the step of gathering data, then you run the risk of You need actual, real-life data from the past three months or longer to see how you and your family spend money before you begin imposing restrictions. You can break them down in the categories below of Fixed and Variable.Īt this point try not to restrict yourself or your family members too much. how to create a budget spreadsheet That Actually Works Step One: Monitor Current Spending Trendsįor the first three months, you will merely monitor your spending and write down all your purchases. Budgeting is so much more than willpower and swearing off your morning mocha. The information below is designed to walk you through how to create a budget spreadsheet step-by-step. When I wrote Saving Money as a Single Mom the most common question was “Ok, but I still don’t understand how to create a budget spreadsheet and put it into practice.” Budgeting that works and finding freedom in your finances with easy budget spreadsheets.ĭo you often hear “you need to make a budget,” but when you sit down to create a budget you’re lost? Or your idea of making a budget is randomly cut down on online spending then forget about it? How to create a simple budget spreadsheet with step by step instructions and free templates.