Monthly household budget1/6/2024 This family budget template provides a clear cash flow analysis of projected vs. Family budgeting is easy when you follow this sample budgeting template in Excel. Most also work with Google Docs and Open Office. This simple, accessible, yet powerful budget template can be used by a family or individual to track monthly income, expenses, and total cash flow. Through the years, the term budget has gotten a negative connotation to mean limiting expenses or pinching pennies but that’s not all there is. every month, put it in the Other expenses this month category. If you have an expense that does not occur. Some bills are monthly and some come less often. information to help you plan next month’s budget. Note: All Practical Spreadsheets work with Microsoft Excel. A household budget template is an itemized list of your family’s expected expenses and income to help you plan how to use or save your money, and to keep track of your habits. Make a Budget Use this worksheet to see how much money you spend this month. If this spreadsheet does not meet your needs, consider aĬlick here to download our FREE Monthly Household Budget Spreadsheet Choose "Open" to immediately open the template for editing, or choose "Save" to save the template to a location on your computer. You want this to be a positive number so you can put it toward your debt, savings, or other financial goals. Calculate Your Net Income Your net income is what you have left over after all the bills are paid. Remember that you should also budget your phone and data usage to make sure your plan isn’t too expensive for your means. 7 Steps to Build a Household Budget Money Management Strategies Pay their living expenses Keep debts to a manageable level Save for the extras that make. Divide yearly expenses by 12 and semiannual expenses by six to come up with the monthly amount to account for in those categories. This will reserve 10% of your salary for things such as savings or unexpected expenses.Ĭlick on the below image or link to download the spreadsheet. Subscriptions to music services, streaming services, and online publications are frequently overlooked in household budgets, so be sure to include them if you have them. When creating your budget, try to keep your total expenses less than 90% of your salary. Once you have your budget created, you can also use the spreadsheet to compare your actual income and expenses to your budget.Ĭreating a budget is an excellent way to reduce debt, analyze expenses, or plan for future purchases. The spreadsheet separates common expenses into fixed and variable. For example, the median home value in 2018 was 328,200 in New Jersey, but 140,100 in Ohio. Housing and rental costs will vary significantly depending on where you live. Start by figuring out how much you're bringing in each month. 20 Common Monthly Expenses to Include in Your Budget. Use a worksheet to help get started in order to complete all the steps below. This FREE Monthly Household Budget Spreadsheet will help you create your own, personal budget. 6 Steps to Creating a Monthly Household Budget Download and Print a Budget Worksheet.
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