![]() ![]() ![]() Our budget is based directly off of these templates and we have used them for years in order to control our spending, show us were our money is going, and to give us timely information about the state of our finances. We have two basic templates that you can use to create your own budget. Below the video we also have links to a template that you can use to create your own budget. If this budget sheet isn’t right for you, try another tool. In the quick tutorial below you will see how we created our budget in Google Sheets and learn how to create your own. Use the free printable budget worksheet below to see how your spending compares with the 50/30/20 budget guide. To complete our budget, we use Google Sheets. To begin with, we break our expenses down into two basic sections, wants and needs.ĭepending on your situation, you may need to edit your needs and wants, but we break them down into the following categories:īy keeping each of these areas in our budget, we are able to track our spending and determine if we really need something or if we want it. To get more specific with our budget we need to examine our costs each month. Some items, like our mortgage, or fixed, but others change depending on the month. Our expenses, costs, are what change on a month to month basis. If your income is not as predictable, we would recommend that you update your budget often to better track your income and try to find an average monthly income. We know what we are going to earn each month, and we can plan very far in advance because of this. You can cut back on 12.50 groceries without even feeling like you’re cutting back. 50 is a good chunk of change at the end of the month, but it isn’t a lot over the course of a week. By creating a yearly budget, you can more easily predict how major life changes will affect your finances. After the 10 cut your new grocery budget amount is 450. For us, we have two general areas that we use as our starting point, income and expenses. This free family budget planner worksheet will help you create a yearly budget by entering amounts based on the month in which expenses are incurred. Once you have your general areas, you can begin to get more specific with each of the areas. The idea behind it is that you should allocate 50 of your income toward needs, 30 toward wants, and 20 toward savings and debt repayment. The 50/30/20 budget is a popular budgeting strategy. When you are looking to start a budget you really want to break down your areas of concern as simply as possible. 50/30/20 personal monthly budget template. You will also find links to our budget and downloads if you prefer a different version. Below you will find resources to help you start your own budget along with a tutorial on how we setup our budget. ![]() We use Google Sheets to help us keep our budget in order and with us at all times. Our budget is fluid, flexible, and works for us. ![]()
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