One of the top value creators I offer my customers at the bank is a budget review. Usually, I recommend this after a few common scenarios:
1. Can't find extra money to save for retirement
2. Having kids and don't know how to prepare
3. Interested in purchasing a larger home
4. They're broke
I'd say over 50% of the time the reason I discuss budgets with clients is due to #4, but that's another story.
As soon as I figure out the best way to attach an excel spreadsheet to this blog, I'll do it. . . but for now, the budget worksheet is below. Feel free to copy/paste into excel, and I hope it helps you control spending and reach your goals!
| *May Want to Use Cash/Envelopes | Budget | ACTUAL | ||||||
| Current | Jan | Feb | Mar | |||||
| Expenses | Giving | |||||||
| Saving | ||||||||
| Emergency Fund | ||||||||
| Retirement Accounts | ||||||||
| Kids College Fund | ||||||||
| Total Savings | ||||||||
| Housing | ||||||||
| Mortgage | ||||||||
| Real Estate Taxes | ||||||||
| Homeowners Insurance | ||||||||
| Repairs/Maintenace Fee | ||||||||
| New Furniture | ||||||||
| Total Housing | ||||||||
| Utilities | ||||||||
| Electric | ||||||||
| Water | ||||||||
| Gas | ||||||||
| Phone | ||||||||
| Trash | ||||||||
| Cable | ||||||||
| Total Utilities | ||||||||
| *Food | ||||||||
| (includes toiletries/cleaning) | *Groceries | |||||||
| *Restaurants | ||||||||
| Total Food | ||||||||
| Transportation | ||||||||
| Car Payment | ||||||||
| Car Payment | ||||||||
| Parking Spot | ||||||||
| *Gas and Oil | ||||||||
| Repairs/Tires | ||||||||
| Car Insurance | ||||||||
| License and Taxes | ||||||||
| Car Replacement | ||||||||
| Total Transportation | ||||||||
| *Clothes | ||||||||
| Medical/Health | ||||||||
| Disability Insurance | ||||||||
| Health Insurance | ||||||||
| Doctor's Bills | ||||||||
| Dentist | ||||||||
| Optometrist | ||||||||
| Medications | ||||||||
| Total Medical | ||||||||
| Personal | ||||||||
| Life Insurance | ||||||||
| Child Care | ||||||||
| *Baby Sitter | ||||||||
| *Hair Care/Cosmetics | ||||||||
| Organization Dues | ||||||||
| Gifts (incl. Christmas) | ||||||||
| Misc. | ||||||||
| *Blow Money | ||||||||
| Total Personal | ||||||||
| Recreation | ||||||||
| *Entertainment | ||||||||
| Vacation | ||||||||
| Total Recreation | ||||||||
| Debts | ||||||||
| Visa | ||||||||
| Amex | ||||||||
| Student Loan | ||||||||
| other | ||||||||
| Total Debt | ||||||||
| TOTAL EXPENSES | ||||||||
| Income | NET INCOME | |||||||
| Over/Under Budget | ||||||||
| Spouse 1 Income | ||||||||
| Spouse 2 Income | ||||||||
| Other Income | ||||||||
| I lovingly agree to the above budget, and promise to do my best to keep if for the benefit of our | ||||||||
| family's future. | ||||||||
| Spouse 1 _________________________ | Spouse 2___________________________ | |||||||
Thanks for sharing! sometimes it's hard to get both spouses to agree, I like the signatures at the bottom!
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