Here is an example of how to create a monthly budget. Excel formulas are already in place. All you need to do is as follows:
1) Start by entering the income you receive on a monthly basis into the row labeled “After Tax Income”.
2) Change and create categories on the left-hand side of the spreadsheet with expenses you typically incur on a monthly basis. For example, maybe you don’t have “Student Loans” replace it instead with “Entertainment”.
3) Enter the amounts you plan to spend in each category on a given month. These amounts can change from month to month.
4) Lastly, make sure that the amount listed at the very bottom is a positive number and indicated with black. This ensures that your spending/saving does not exceed your monthly income.
Grab the budget template here => Microsoft Excel Version: Monthly Budget
5) For more on budgeting consider grabbing a copy of personal capital. Its pretty much the latest and greatest in budgeting tools available on the market today. You can also read our other articles on this topic:
- Four Must Get Online Budgeting Courses
- Chop $250 Off Your Yearly Budget
- Trim Your Budget
- Everything You Need To Know About Cash Budget Systems
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