Personal Monthly Budget Template - U-Snap-Bac
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1
2MY
BUDGET
COMPLETE
PROCESS
Estimate each monthly expense.
(Strive for accuracy)
BALANCE
Fill in Total Monthly Income.
(include take-home pay and all sources of income)
Key to success-live within your means.
Subtract Total Monthly Expense.
Surplus or Deficit?
Pay yourself first by trying to save 10%
Of your income.
What if my expense is not monthly?
Non- Monthly
By What
Monthly
Decide what your family’s most important goals are.
What to do
Expense
Number
Expense
Think about your wants vs. your needs.
Weekly
=monthly
4
(grocery, gas)
expense
RESULTS
WHAT TO DO
Quarterly
=monthly
3
•
(water etc.)
expense
Surplus
Add to savings
•
Semi- Annually
=monthly
(income greater than expenses)
Save for goals
6
(auto insurance)
expense
•
Deficit
Increase income
=monthly
•
(expenses greater than income)
Decrease expenses
Annually
12
expense
•
both
•
Balance
always aim to include
•
(income=expenses)
saving in your budget
TRACKING & ADJUSTING
Turn off lights; use energy star appliances; unplug
Utilities
appliances when not in use; turn down heat; turn up
Keep track of actual spending.
air conditioning; insulate
(save receipts, use a notebook,
Shop vehicle insurance keep proper air pressure in
computer program, etc.)
Transportation
tires; car pool; public transportation; combine
errands; walk
Record monthly expense totals on the
Keep debt low; make arrangements to pay off old
Debt
My Budget worksheet.
debt; carefully evaluate taking on new debt
Buy sale items; take lunch to work; limit
Living Expenses
Hold meeting with family and adjust
entertainment and dining out expenses
spending to balance budget.
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Parent category: Financial