Use the information to help you plan the next month’s budget.At the end of the month, see if you spent what you planned.Write what you think you will earn and spend. At the beginning of the month, make a plan for how you will spend your money that month.Look at your budget to see what you do not need or what you could spend less on. If it is less than zero, you are spending more money than you make. Subtract your expenses from how much money you make. This includes your paychecks and any other money you get, like child support. You might need $200 for your gas bill in January, but $30 in July. Look at what you paid for the same month last year.
You might have bills that change every month.
Everyone has expenses they do not expect. Emergencies – Saving small amounts of money now might help you later.Here are some reasons to try to save money even when it is not easy. It is very hard when your expenses go up and your income does not. Then you can put money into savings every month – maybe into a bank or credit union. You can make savings one of your expenses. Your budget can help you save money for the future. make a plan for how to spend and save your money.How can I use my budget?Ī budget is something you use every month. Last year my paychecks added up to $30,000. This is about how much money you will have for each month If you expect things to be like they were last year, do this: Let’s say Steve (yes, I’m finally naming this guy) gets through one month of tracking his expenses. Monthly budget example with actuals: the single guy. Maybe something you do not need, or a way to spend less. Free Budget Calculator (Excel For Single or Family Household Spending) Free Weekly Budget Template (Simple Budget Planner Spreadsheet) Top Free Monthly and Weekly Budget Planners. Look for things in your budget you can change. If the number is less than zero, you are spending more money than you make. subtract your expenses from how much money you make.For example, do you buy a cup of coffee every day? After a month, that coffee money could add up to an expense you might write down. Think about how you spend money, besides paying your bills. Holidays & Birthdays including gifts to your familiy, friends and co-workers, as well as decorations, greeting cards, etc.Start a budget by gathering your bills and pay stubs. Student Loans Total minimum monthly payments Medical Debt Total minimum monthly payments Store Cards Total minimum monthly payments Life Insurance if not already deducted from your paycheckĬredit Cards Total minimum monthly payments Health Insurance & Co-pays anything not already deducted from your paycheck Property Tax if not included in mortgage paymentĬondo or Homeowner Association (HOA) Fees Home or Renters Insurance if not included in mortgage payment Now enter your expenses in the sections below. Other Monthly Income Examples include Social Security, child support, alimony, investments, pensions, etc. Your Net Monthly Pay Your net pay (or take-home pay) is the amount on your paychecks-your wages minus federal taxes, Social Security, Medicare, wage garnishments, health insurance, other benefits, etc. Start by entering your monthly income in the sections below.