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Balanced Budget Worksheet
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Balanced Monthly Spending Plan for ________________________
Free financial budget worksheet (2 of 3) |
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You should have completed the
budget worksheet to help you to compare your actual spending
for the past month against your net monthly income. With this worksheet,
we want to help you create a balanced spending plan.
On average, people will spend 10% more than they bring home each month. It is impossible
to increase savings, eliminate debt, or maximize your investments
if you are spending more than you net each month. The worksheet
will help you set up a balanced monthly spending plan so that you
can reduce hidden spending, increase your savings, and eliminate your debt.
Print the worksheet below and:
- List your actual
expenditures from last month in the column labeled "Spent Last Month".
- List your net monthly income and the difference between what you spent and your net income in
the "Balanced Spending Plan Summary" table.
- Make the adjustments necessary for the plan to balance with your income in the column
titled, "Adjusted Allocation".
- Add up the totals from your adjusted allocations in the "Balanced Spending Plan
Summary" table.
- Subtract your total allocations from your net monthly income. This amount should be zero so that
you have all your income allocated to a spending category, with no overspending.
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MONTHLY SPENDING ACCOUNTS
| MONTHLY REQUIRED EXPENSES |
SPENT LAST
MONTH |
ADJUSTED
ALLOCATION |
| Childcare (Day Care) |
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| Debt-Payment To: Credit Card 1 |
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| Debt-Payment To: Credit Card 2 |
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| Debt-Payment To: Credit Card 3 |
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| Debts: Car Payment 1 |
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| Debts: Car Payment 2 |
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| Debts: Mortgage |
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| Entertainment: Cable & Internet |
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| Financial Plan: IRA |
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| Insurance: Auto |
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| Insurance: Health |
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| Insurance: Housing |
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| Savings |
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| Utilities: Electricity |
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| Utilities: Gas |
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| Utilities: Water-Sewer-Trash |
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| Other Expense 1 |
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| Other Expense 2 |
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| Monthly Required Total (a): |
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| MONTHLY DISCRETIONARY EXPENSES |
SPENT LAST
MONTH |
ADJUSTED
ALLOCATION |
| Allowances: Yourself |
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| Allowances: Spouse |
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| Auto: Gas & Oil |
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| Childcare (Babysitter) |
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| Clothing |
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| Entertainment: Movies & Events |
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| Financial Plan: Investments |
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| Food: Dining Out |
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| Food: Groceries |
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| Utilities: Phone |
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| Utilities: Mobile Phone |
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| Other Expense 1 |
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| Other Expense 2 |
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| Monthly Discretionary Total (b): |
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PERIODIC SPENDING ACCOUNTS
| PERIODIC REQUIRED EXPENSES |
SPENT LAST
MONTH
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ADJUSTED
ALLOCATION
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| Auto: Registration |
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| Insurance: Homeowner's |
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| Insurance: Life |
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| Taxes: Property Taxes |
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| Other Expense 1 |
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| Other Expense 2 |
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| Periodic Required Total (c): |
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| PERIODIC DISCRETIONARY EXPENSES |
SPENT LAST
MONTH
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ADJUSTED
ALLOCATION
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| Auto: Maintenance |
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| Donations |
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| Financial Plan: College Fund |
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| Financial Plan: Investments |
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| Gifts: Birthday |
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| Gifts: Holiday |
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| Gifts: Other |
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| Health: Co-pay & Supplies |
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| Household |
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| Vacation |
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| Other Expense 1 |
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| Other Expense 2 |
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| Periodic Discretionary Total (d): |
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BALANCED SPENDING PLAN SUMMARY
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SPENT LAST
MONTH |
ADJUSTED
ALLOCATION |
| Net Monthly Income |
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| Monthly Required Total(a) |
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| Monthly Discretionary Total (b) |
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| Periodic Required Total(c) |
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| Periodic Discretionary Total (d) |
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| Total Monthly Allocations (a+b+c+d) |
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Balance
(Net Monthly Income less amounts spent or allocated) |
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(should be 0) |
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There is an automated way for you to do this, and it will save you money and time!
Mvelopes Personal will assist you to set up a balanced spending plan, and automatically track your spending.
You will always know exactly how much money you have left to spend and how long it will need to last. With
Mvelopes Personal you can create as many categories as you may need, and it also allows you to track your spending
from as many credit cards, bank accounts, and debit cards as you need. No more math, no more paperwork, and no
more manual data entry. Get Mvelopes Personal free for 30 days. Free Budget
Planner or by visiting www.mvelopes.com.
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Our free 79 page E-Book details a budgeting system that shows you how easily you can create an effective household budget and keep track
of your spending as it happens. This is the only way to always know exactly where you stand financially. It will be a benefit to always know exactly how much money you have left to spend, immediately know the impact of
every decision, effectively manage your credit cards, and quickly set up an easy to use personal household budget. Download your copy of
Money For Life
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