Budget Planner Worksheet

by ryan on July 1, 2017


Plan Your Money with a Budget Planner Worksheets


Do you need to create a budget, but a bit stuck on how exactly you should proceed? Have you ever considered using a budget planner worksheet to help with this task? Using one of these customizable worksheets to track your income and expenses is becoming quite popular these days, largely because the time you can save and how easy they are to use.

In this article we will explain why having a budget in place is so important these days and we will also highlight some of the items that are typically found on a budget planner worksheet.

Why Do I Need a Budget?

Does it ever strike you as odd that most people are careful planners when it comes to almost every other phase of their life—what they will wear, where they will drive, etc.—but when it comes to their money they have virtually no plan whatsoever? This is not only impractical, but as we have seen from the recent economic crisis, it can also be devastating.

A budget is really nothing more than a detailed account of how your money will be spent and on what, and by creating a budget you can begin to plan and save for more important expenditures down the road, things such as a new home, a dream vacation or, most importantly, education costs and retirement savings.

Having a budget in place, whether it’s a personal or business-based budget, is the only effective way to “plan” what will happen with your money, and by using a budget planner worksheet you’ll have the versatility to manipulate your budget as your financial picture changes.

What Should Be Included on a Budget Planner Worksheet?

As stated above, a budget is a plan that tracks your income and expenditures, and while there are several different types of worksheets, most will include, at minimum, space for the following:

• Income. The first part of your budget planner worksheet will deal with your income, or money coming in. This portion of the budget is highlighted first, because it is from this amount that all of the following expenditures will be deducted.

• Savings. Most economic experts agree that the first “person” you should pay each month is you. This is usually a static percentage such as 5% or 10% and should be paid consistently each month to save “for a rainy day.”

• Mortgage/Rent. Because this expense is usually the most formidable, it should be included near the top of the worksheet.

• Utilities/Phone. This includes gas, water, electric, and trash pickup along with phone service.

• Automobile Payments. If applicable, this is where you will list your automobile payments.

• Insurance. This includes all forms of insurance such as home, auto and life.

• Food. While this may not remain static each month, it is a vital part of any budget.

• Credit Card Payments/Student Loans. While you can calculate for only the minimum payments here, experts agree you should try to allocate a little more each month to help pay down the principal.

• Child Care. Don’t forget the price of caring for the little ones.

• Clothes and Toiletries. This includes any personal items for each member of the family.

• Entertainment. This could things like include dinners out, movies, etc.

• Miscellaneous Expenses. It’s always wise to set aside some pocket money to deal with unplanned costs.

While this is certainly not an exhaustive list, you get the idea. Each of these items on your budget planner worksheet can initially be assigned a numeric value—the amount you are allowed each month—but should you find that less or more is needed in one or more specific categories, a worksheet such as this allows you to make those changes rapidly, without rewriting the entire budget.




Budget Planner Worksheet






Previous post:

Next post: