How to Make a Monthly Household Budget Spreadsheet

Creating a monthly household budget spreadsheet is a crucial step in taking control of your finances and giving your money purpose. It's not about restricting your spending, but rather creating a plan for what you'll do with your hard-earned cash.

To start, define income as any money you expect to receive during the month, including regular paychecks, side hustles, freelance work, or other sources of extra income. Having this information will help you accurately fill out your budget spreadsheet.

Before diving into the steps, consider opening up your online bank account or grabbing your bank statements to get a clear picture of your financial situation. If you're old-fashioned like me, feel free to write everything down on a sheet of paper - it's what I use to budget and it works like a charm!

Now, let's break down the process into five easy steps:

1. Decide how you want to create your budget: will you use a spreadsheet, an app, or good old-fashioned pen and paper? The choice is yours.

2. Make a new budget before the month begins. This will help you plan for what's coming in and what's going out.

So, here's how to make a budget in five steps:

* Start by calculating your income for the month. This includes all sources of money, from regular paychecks to side hustles and freelance work.

* Next, categorize your expenses into needs (housing, food, utilities) and wants (entertainment, hobbies). Be honest with yourself about what you can realistically cut back on.

* Set financial goals for the month, whether it's saving a certain amount or paying off debt. Write these down in your budget spreadsheet.

* Fill in your budget spreadsheet with numbers, using your income and expense calculations as guides. Don't forget to include any irregular expenses, such as car maintenance or property taxes.

* Review and revise your budget regularly to make sure you're on track to meet your financial goals.

Remember, making a budget might seem overwhelming at first, but it's not an elephant-sized task. Take it one bite at a time, and before you know it, you'll be a pro! By following these simple steps, you can create a monthly household budget spreadsheet that works for you and helps you achieve your financial goals.

'Monthly Household Budget Spreadsheet'

Monthly household budget spreadsheet