Here's a free Household Budget Template for your use. You can use this to help get a better handle on your personal money management which, in turn, can help you to improve the balance in other areas of your life.
If you frequently find yourself wondering where all your money has gone, you need to create a budget. A detailed monthly budget plan is an effective way of monitoring all of your financial affairs and it’s a great way to keep track of exactly where your money goes.
Whether you’re struggling to make ends meet or dreaming of being able to afford a vacation or a new car, using the template below can make the difference between dreaming of doing things and actually being in a financial position to go ahead and do them.
Rent or mortgage _________
Loan payments ___________
Home line of credit payment ___________
If own _________
State and local taxes yearly divide by 12 = monthly _________
Home maintenance __________
If rent _______
Renters insurance _________
Eating out _________
Gas and electric _______
Car payments ________
Car maintenance ________
Car insurance _______
Home insurance ________
Life insurance ________
Medical expenses ________
School expenses ________
Cable (a) ________
Home phone ________
Cell phone _______
Vacations (b) _______
Savings and investment ______
Pest control _______
Hobbies (c) _______
Miscellaneous ________ _______
Other ________ _______
Other _________ _______
Other _________ _______
Net income: If you get a minus figure then you are spending more than you are earning.
(a) For those who are less techy; one way to save on cable is to reduce the number of channels. If you have the extra channels because you love movies, you can get movies over the internet much cheaper. Renting movies and getting them thru the mail or streaming them on your computer is much more cost effective and the money you save can go toward vacations or other special treats. Alternatively, your local library may have movies you can check out for free.
(b) Budgeting even a small amount of money each month toward vacation costs helps to limit the amount you take from your savings or the potential to put more on credit.
(c) For example, if you are into an expensive hobby such as photography or skiing, put money aside for equipment purchases and upgrades or other related expenses.
The household budget template above could also be used as a family budget template.
Personal money management can sometimes feel like a chore but it’s only when you know exactly how much money is coming in each month and exactly how much is going out that you can begin to make those little adjustments that might help you to make ends meet or allow you to put something aside for a rainy day or a special treat. Keeping track of your financial balance can help you to create better life balance by taking the stress out of money matters.
If you could use some help with managing your spending, coaching may be helpful to you.
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