Proper Budgeting: Using a Worksheet for Creating a Monthly Budget

What Is a Budget?

A budget is a document that lists what your income is every month, and what you spend you money on every month. It can be done on a piece of paper, or on a computer. Our site offers a free worksheet for creating a monthly budget.

The first step in making a proper budget is to write down 'everything' you spend money on each month. Most people remember their rent payment, but often forget the newspaper they buy on their way to work each morning.

We recommend that you carry a small notepad with you every day, and write down everything you spend money on, including newspapers, lunch, magazines, and your morning coffee.

By writing down everything you spend money on, you will have a complete list of all of your expenses, which will make it easier to create your budget.

What Does a Budget Look Like?

There are many books you can buy on budgeting, but at Hoyes & Associates Inc., we recommend that you keep it simple!

At the top of the page write down what you bring home each month. Then list everything you spend money on.

Download a free worksheet for creating a monthly budget by clicking here (requires Excel 4.0 or higher)

Once you have created your budget, do some budget analysis.