Essential Monthly Budget Worksheets Everyone Should Have

How to Use Monthly Budget Worksheets

Budgets help plan your monthly spending to achieve your goals, whether that’s trying to pay off debt, saving cash for a new car, or depositing more money into your savings account. Without a budget, money can flow out of your account like a revolving door.

How to Complete Monthly Budget Worksheets

To complete the monthly budget worksheets, gather your income information (from all sources) and your spending habits for the past month or so. Use your bank statements, credit card statements, and records of monthly income and expenses.

Monthly Budget Worksheet Templates

First, obtain a copy of the monthly income and expenses worksheet (see the link above for download instructions) outlined in “How to Complete Monthly Budget Worksheets” above. These steps provide a worksheet you can edit. Then, work through the tabs in the linked worksheet above.

What to Do After Budgeting

Use the budget to help you achieve your financial goals and vice versa. For example, you might decide to use your budget to help you get out of debt, buy a home, or save money for your children’s education in the future. If you want to save money for a specific goal, you may need to “pay yourself first” with a small amount like $5 or $10 into your savings account to ensure that money goes toward your goal each month, even if that means reducing dining out or spending less on groceries.

Frequently Asked Questions

What is a balanced budget?

How can budgeting impact your overall wealth?

Source: https://www.thebalancemoney.com/basic-monthly-budget-worksheet-1289585