Managing your money requires tracking all your income and expenses. This series of interactive budget worksheets will help you chart where your money comes from and where it goes.
I recommend printing and completing these budget worksheets each month. Reference them at the beginning and end of each month to track your progress.
How To Use This
You can either use one worksheet alone, or you can use all the budgeting worksheets together to create a complete budget. There's a link at the bottom of each worksheet that leads you to the next one.
This particular worksheet, the first one in the series, helps you track the two most important items on your list: your income and your necessary spending.
Guide Tip
I recommend using all the worksheets together create a comprehensive budget, but if you decide that you only want to fill out one worksheet, this one is probably the most important. If you're not earning enough to pay for even the basics, you need to know that right away.
Helpful Hints
Fill in the “monthly estimate” column after you review your financial records. Whatever you write in this column represents a monthly average.
Fill in the column that asks for the “actual” amount at the end of each month. This column should reflect how much you actually spent and earned during that particular month. Some months your spending will be above average, other months it will be below.
| INCOME SOURCE | MONTHLY ESTIMATE | ACTUAL |
| Source 1: | ||
| Source 2: | ||
| Source 3: | ||
| TOTAL: |
Next Step: Fill In Your Necessary Expenses
The miscellaneous categories are for you to fill in personal non-discretionary costs, like elderly care.
What Do You Mean By "Necessary" Costs?
This worksheet consists of all the bills you have to pay, although not all categories (like property taxes) will apply to all people. Many of these costs can also be reduced by shopping around.
| NECESSARY EXPENSE | MONTHLY ESTIMATE | ACTUAL |
| Rent or Mortgage | ||
| Groceries | ||
| Gas and Electric | ||
| Water and Sewage | ||
| Trash Pickup | ||
| Health Insurance/Co-Pays | ||
| Auto Insurance | ||
| Auto Repairs/Maintenance | ||
| Fuel / Public Transit | ||
| Phone (Landline and Cell Phone) | ||
| Loan Repayment | ||
| Homeowners/Renters Insurance | ||
| HOA fee | ||
| Property Tax | ||
| Life Insurance | ||
| Income and Capital Gains Tax | ||
| Basic Toiletries | ||
| Child Care | ||
| Pet and Veterinary | ||
| Retirement | ||
| Misc #1 | ||
| Misc #2 | ||
| TOTAL: |
If this is the only budget worksheet you use, then compare your total expenses to your total income. Make sure your income is higher. If not, you'll need to find more ways to save.
The good news is saving money comes easily once you know the areas you need to target.
I highly recommend making a complete budget by going to the next worksheet: Budget Your Discretionary Spending. This worksheet alone isn't enough to give you a full picture of your finances. You need to know where all your money is going, and that means counting discretionary expenses along with your necessary expenses.