![]() To specific, identify both your income and expenses and keep track of your financial resources with these in mind. Identify both incoming and outgoing flow of moneyĪfter setting your goals, describe your money is being circulated. Look forward to the future and let that vision help you decide what's important to you. Setting realistic goals will enable you to stop worrying about your money getting mishandled and to build up necessary savings. With goals having these traits, you'll be motivated to handle your financial resources wisely and to make smart spending choices. When setting goals for your budget, they should always be smart, realistic, and attainable. If you are able to identify the purpose, use it as a source of inspiration to really drive yourself into making a professionally-written budget plan. Why do you need to make a budget plan? And is it really necessary that you make one? Behind every basic plan, there will always be a motivation that drove you into making it, so try to identify yours. Identify the need for making the budget plan Here, you'll learn how to make a realistic and attainable budget plan, simply follow the guidelines listed below. Simple planning of a budget is comparatively easy, but there are actually factors that need to be considered to really plan a budget effectively. This is often referred to as a spending plan, and it allows people to determine beforehand whether they will have sufficient financial analysis for doing certain things. What Is a Budget Plan?Ī budget plan is described as a plan used by individuals or organizations to determine how to properly make use of their money. ![]() So what are you waiting for? Subscribe to our templates now. Whether you're a business person or a student, our templates are your solution to planning a budget effectively. Aside from being easily editable, our budget plan templates are also fully printable. Here at Pro, you'll get exclusive access to 100% customizable budget plan templates that you can download whenever and wherever you need to, you may even be able to download it on any device. Home Budget - Our original selection of home budget worksheets.Planning a budget effectively is essential for individuals, businesses, and organizations, and it's even more effective if it's documented on a well-written budget plan.Family Budget Planner A yearly budget planner, with the same categories as the household budget spreadsheet.Household Budget Spreadsheet (monthly) - More detailed and includes child expenses.Personal Budget Spreadsheet The 12-month version of the above spreadsheet.Money Manger - A more advanced budget management tool for Excel.After making a change, you should check the formulas to make sure they are still correct. If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: You need to be careful when adding or removing categories, to avoid messing up the formulas used for calculating the totals. The Monthly Budget Summary table in the upper right of the worksheet totals up all your income and expenses and calculates your Net as Income minus Expenses. So, if you spend more than you budgeted for, the value in the Difference column will be red - to help it stand out as a warning. The spreadsheet uses the accounting format where negative numbers are in parenthesis like (115.00), and conditional formatting is used to make the negative numbers red - red means bad in this case. The calculations in the "Difference" column are set up so that negative numbers are bad. Using the Personal Monthly Budget Template ![]() See our articles Make a Budget and 5 Basic Budgeting Tips if you are just getting started or new to budgeting. At the end of the month, you record in the "Actual" column how much you really spent during the month.įor a more detailed set of budget categories, see the Household Budget worksheet. This represents your goal - you're trying to keep from spending more than this amount. You record your desired budget for each category in the "Budget" column. The purpose of this type of budget worksheet is to compare your monthly budget with your actual income and expenses. Some numbers are included in the Home Expenses category as an example, but you'll want to replace those numbers with your own. ![]() To use this template, just fill in numbers that are highlighted with a light-blue background (the Budget and Actual columns). ![]()
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