Creating a budget plan is something most people would quite frankly rather not do. Committing the time and energy that crafting a budget requires is simply not an option for some. Yet, undoubtedly one of the best ways to take the reins of your personal finances is by using a household budget template.
A household budget template allows you to account for where every dollar goes during the course of week, month or year. The household budget template available on this site is extremely user-friendly and will help you sort out your finances faster than you may think. In the spirit of saving money, this household budget template is also 100% free.
How to Use the Household Budget Template
The household budget template lists items in four categories:
- Monthly Take Home Income
- Monthly Living Expenses
- Secured Debts
- Unsecured Debts
Within each category in the household budget template is a set of subcategories. For example, within “Secured Debts” are subcategories such as rent, student loans and auto loans. Next to the subcategories you will place the amount in dollars that you spend on these items/bills/activities per month. Once this is completed for all the categories and subcategories, the household budget template calculates all the amounts and reveals the totals in the “Summary” box below.
The “Summary” box will show your take home pay, total living expenses, total secured debt and unsecured debt. Once all these figures have been computed in the template, your disposable income in dollar form will be revealed.
Benefits of Using a Household Budget Template
The benefits associated with using a household budget template can truly be limitless. Instead of wondering if you have extra money to purchase a new outfit or enough funds for dinner, a movie or a night on the town, the household budget template will clearly reveal the exact amount you have at your disposal. Conversely, you won’t be sent into a panic over funds should an emergency situation arise.
Using a household budget template could be the first step in regaining financial stability. It can also potentially point you in the direction of accumulating personal wealth down the road. This household budget template was created to help you take the initial steps on both paths.
Download: Household Budget Template
Related Templates:
- Home Budget Calculator Excel Template
- Household Budget Worksheet
- Monthly Budget Planning Spreadsheet Excel Template
- Household Expenses Calculator
- Debt-to-Income (DTI) Ratio Calculator
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