Keeping track of your budget shouldn’t be difficult. That’s why we’re pleased to present a simple and completely free budget spreadsheet that can be used to quickly and easily plan how much you can spend each month.
Using the spreadsheet is easy. First, gather your pay stubs and enter your monthly income. Next, collect a month’s worth of bills and receipts. Enter the monthly amounts in the appropriate categories, estimating any value that fluctuates from month to month.
Once you’ve entered all the values, the spreadsheet will tell you how much you will have left at the end of the month to save or put toward debt. The spreadsheet will also tell you how close you are to an ideal income allocation. Such allocation models are frequently used by banks and other lenders for determining your financial balance.
Feel free to try the spreadsheet today using the download link below.
The really simple budget worksheet
If you don’t want to spend a lot of time with your budget, sometimes all you need is a quick chart to jot down about what you’ll spend each month. Sound about right? Then this one-page, super-simple worksheet is for you.
Download as PDF
Make the most of your spreadsheet
Once you have your spreadsheet set up, it’s important to put it to work for you. Here are a few tips to help you get started:
- Start each month with a review — At the beginning of the month, review the money you have for each category and adjust your spending accordingly.
- Track your spending — Log your spending every day. If you miss a day, jump right back in the next day and log both days.
- Check in each week — Check in with your remaining totals at the start of each week and identify areas where you might need to cut back.
- Adjust as needed — If you need to spend more in one category, reduce the amount in another category to make sure you stay on track.
- Don’t get discouraged — If you do go over one month, don’t let it discourage you. Adjust the numbers and start fresh next month. Sticking to a budget is hard, but you’ve got this!
If this spreadsheet doesn’t fit your needs, You Need A Budget (YNAB) has a more extensive budgeting solution that is sure to kick your budget into gear. You’ll simply set goals and log your spending throughout the month. YNAB’s reporting tools will help you monitor how you’re doing and show you your full financial picture. Best of all, you can try it out for 34 days for free, which is more than enough time to see a difference in your budgeting habits.
You should also take a look at PocketSmith. This tool makes it easy to import your financial data and take a look at your spending habits across the board. But what I like best about PocketSmith is the future forecasting. As you set up your next month’s budget, you can take a look at how the small decisions you make impact your finances six months down the road.