Don't Miss These Essential Budget Worksheets

Use These Budget Worksheets for a Step-By-Step Guide

Want to create a budget? These budget worksheets will walk you through your finances with detailed, step-by-step instructions. You'll be able to list your income, break down all your expenses, and keep track of your savings goals.

I recommend using all three worksheets together to create a comprehensive budget. This will give you a birds-eye view of your financial health.

If you'd rather start slowly, feel free to use just one worksheet to focus on a specific area within your budget.

For example, you can use the Discretionary Spending worksheet to discover how much of your monthly paycheck goes towards fun and entertainment. This might be useful if you're finding that you don't have enough money left for your necessities.

Budget Worksheet - Income and Necessities

Budget worksheet

This budget worksheet allows you to list all your sources of income and compare it to your basic, non-negotiable expenses. 

Do you receive a paycheck, bonus, or are you paid by commission? Do you have side income or dividend income? This worksheet will help you track it all. It then helps you figure out how much your necessary expenses, like groceries, utilities, and your rent or mortgage, stack up to your income.

I highly recommend using all three worksheets together, but if you're only going to use one, choose this one. It's the fundamental worksheet the other two are built on. More

Budget Worksheet - Discretionary Spending

A budget worksheet designed to help you track discretionary expenses

Here's where you get to list all your "fun" expenses, like beauty products and restaurant dining. If you need to trim your budget, these are the easiest places to make cuts.

Beware, though: "discretionary" is in the eye of the beholder. Some of the things on this list might feel like necessities. That's why personal finance is, well, so personal.

If you're serious about saving money, though, you need to take a critical look at all of your expenses - not just those in the "necessities" category above.

Try not to think of it as depriving yourself, because that's not what a budget is about. Instead, think of what purchases aren't bringing any value to your life, or if you'd be happier spending your money elsewhere. More

Budget Worksheet - Savings Goals

Overwhelmed by multiple savings goals? This budget worksheet will help you prioritize

There are plenty of reasons to save, so if you've found yourself overwhelmed by all your savings goals, don't worry. That's normal.

So how do you choose among all those great goals? This worksheet will help you list out your goals, figure out where you really want your money to go, and set savings priorities.

Without this list, you might find yourself saving for the wrong things, or not saving at all because there's "too much" to save for. Getting all of your goals into a list will make you feel more organized and gives you peace of mind that you're doing the right thing with your money. More

Putting it All Together

You should see why I recommend using all three worksheets together now. When working to get your finances in order, you need the entire picture, not just different sections. You need to know how much your basic necessities are costing you, as well as how much you're spending on discretionary items, otherwise, you might not meet your savings goals.

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