Ideally, keeping a budget wouldn’t be an emotional issue, but it can be. Will you find out you’re behind on something? Will you find out you’ve been overestimating how much disposable income you have? Perhaps you’ll find you could be putting more into savings though. Perhaps you could be paying off more than the interest on those student loans. A simple monthly budget template will help get yourself in order, as well as give you a simple graphical representation of your finances.
How to Use the Simple Monthly Budget Template
In the simple monthly budget template available for free on this page you’ll find a section for income as well as expenses. Get together all your paperwork like pay stubs, banking statements and bills. Enter all of this information into the customizable template. You can add as many spaces as you need in each section to cover each element of your income and expenses. The simple monthly budget template can easily handle people with more than one job or even more than one household. You can even use it to handle more than one person or as a simple expense sheet to give to roommates.
A budget is a powerful tool to keep your finances in order and help you save for emergencies and the future. Though sitting down to start one may be stressful, in the end handling money going in and out of the household will be much smoother.
Tips for Using the Simple Monthly Budget Template
- Make sure you are not missing anything. Double and triple check. Something that doesn’t make it onto your budget is in danger of not getting paid. If a bill is set up to be payed automatically it could cause costly overdraft fees.
- Be honest. Finances are not the place for self-deception. Especially if this is your first budget then it may be a journey of self-discovery. Take taxes out of your income. Use utility bill numbers that are a little higher than average.
- Keep the simple monthly budget template up to date. If your income or bills change be sure to enter that in the template.
Download: Simple Monthly Budget Template
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