Also, the cost of the ticket to utilize public transport should be captured here. The fuel in the case of private transportation is the main category, which gets recorded here along with the parking charges and insurance premium. Either personal transport or public transport has a particular cost of usage. Any furniture purchased or repairs made should also be captured in this section.Ĭommute plays a vital role in everyone’s living, and thus monthly, there should be a certain amount allocated towards this thing too. The cost of electricity and water is also shown here as they belong to the basic amenity for living. As stated above, these amounts tend to vary monthly to a minimal extent. Even any kind of home loan or property repair and taxes are recorded in this field.These expenses are more concerned about the day to day living of the individual, and to some extent, the budget allocated towards are don’t vary a lot every month.
Here the user will capture the electricity bill, gas bill, and groceries.
- This section is more of like the necessary amenities needed to run a living.
- All the income generated monthly is stored and recorded in this segment, and a total is calculated based on the same. It may consist of various streams of income, namely salary, interest from savings, dividends Dividends Dividends refer to the portion of business earnings paid to the shareholders as gratitude for investing in the company’s equity. This section is used to classify all the income which an individual can have.
- The projected balance gives us the final amount which the user planned to save at the beginning and matches it accordingly with the month-end balance, which is nothing but the difference between income and expense.
- If the amount here is negative, it should be the first trigger or warning where certainly the expenses are more than the income level of the concerned user. The net balance calculation happens here, which, if positive, means the person has enough income to capture all his expenses.
- This section gives us a snapshot of the entire income figure, which one has and henceforth the expense figure too.
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This template can help the user to keep track of his expenses and make sure he/she is spending within manageable limits where even if there is the utilization of debt that can be easily paid back with the income one generates. The personal budget template will capture all the available sources of income one has and all the expenses which one needs to bear on a day to day basis. If you're trying to maintain a realistic budget, the Consumer Financial Protection Bureau (CFPB) recommends creating a budget spreadsheet or worksheet to track your income and expenses.About Personal Monthly Budget Template Template
That way, you can budget your money appropriately for your needs. Spreadsheets help you to see how much income you have, as well as how your money is spent. Much like a business, a person benefits from using a spreadsheet for their finances because it places all the information they need in one easy-to-read place. All of these entities use spreadsheets for creating budgets, tracking spending, and creating reports for their financial matters. Since then, the technology has been adopted by businesses, banks, and governments. Learn about all of your options, here.ĭan Bricklin and Bob Frankston created the first financial spreadsheet program in 1979. Managing your personal finances can seem like a daunting task, but it doesn't have to be: There are many budgeting and personal finance spreadsheets readily available online. Budgets help you plan for your monthly expenses, activities, needs, and even your financial future. One of the best methods for managing personal finances is to create a budget.Ĭreating a budget can help you keep your finances organized and also control the amount of debt you might require to live the way you want. Basic living expenses need to be maintained for a reasonable quality of life, which can be attained by most people if they manage their finances correctly.