FREE MONTHLY BUDGET TEMPLATE
The first step in order to build wealth is to learn how to control your finances.
Without knowing exactly how much money you are making and where it is all going, it becomes near impossible to figure it out how to get your financial life in order.
What is a budget? The process is quite simple: subtract your total monthly expenses from your total monthly available income.
Free monthly budget template forms help you have a carefully planned monthly budget which is essential in avoiding debt, getting out of debt and saving money.
But in order for your budget to work, it must be written down on paper and you must provide as much detailed information as possible. This includes your net income or take home pay and any outside source of income. Also all your fixed expenses (mortgage or rent, car payments, auto insurance, cable, internet service, trash pickup, credit card payments) and variable expenses (utilities, groceries, gasoline, entertainment, retirement or college savings, eating, gifts an so on.)
If after subtracting all your expenses from your income you come up with a negative number, you will need to work on cutting off or reducing your household expenses immediately.
The secret to success is having discipline to spend less money than you make. You must learn how to budget money and how to live within your means and start a saving and investment plan as soon as you get out of red. Our free free monthly budget template forms can help you accomplish that goal.
If you need some tips on how to make a budget or need a budget planner worksheet check out our free template.
FREE MONTHLY BUDGET TEMPLATE
MONTHLY GROSS INCOME
Salary and wages 1:.......................................................................................
Salary and wages 2:.......................................................................................
Spouse Salary:...............................................................................................
Bonuses and Fringe Benefits:........................................................................
Child Support:................................................................................................
Alimony:.........................................................................................................
Social Security:..............................................................................................
Worker’s Comp:.............................................................................................
AFDC:............................................................................................................
Retirement Income:.......................................................................................
Disability Payments:......................................................................................
Unemployment:.............................................................................................
Dividends:.....................................................................................................
Gifts Received:.............................................................................................
Rental Income:..............................................................................................
Interest Income:............................................................................................
Business Income:..........................................................................................
Investing:.......................................................................................................
Income:.........................................................................................................
Other income:...............................................................................................
TOTAL GROSS INCOME______________________________________
Income Deductions
Health Insurance:.........................................................................................
Savings:........................................................................................................
401K:............................................................................................................
Other Deductions:........................................................................................
TOTAL DEDUCTIONS_________________________________________
Total Gross Income minus Total Deductions_________________________
MONTHLY AVAILABLE INCOME_________________________________
Housing Expenses
Rent:.............................................................................................................
Renters Insurance:.......................................................................................
Mortgage:.....................................................................................................
Home Insurance:..........................................................................................
Property Taxes:............................................................................................
Repairs:.......................................................................................................
Front/Backyard Care:..................................................................................
Other:..........................................................................................................
TOTAL HOUSING EXPENSES_________________________________
Utilities
Water:.........................................................................................................
Gas:............................................................................................................
Heat:...........................................................................................................
Electric:.......................................................................................................
Phone:........................................................................................................
Garbage:.....................................................................................................
Sewer:.........................................................................................................
Cable:..........................................................................................................
Internet:.......................................................................................................
Cell Phone:.................................................................................................
Other:.........................................................................................................
TOTAL UTILITIES___________________________________________
Children
Allowances:................................................................................................
Babysitting:.................................................................................................
Camps:.......................................................................................................
Child Support:.............................................................................................
Daycare:.....................................................................................................
Diapers:......................................................................................................
Formula:.....................................................................................................
Recreation:.................................................................................................
Sports Fees:...............................................................................................
School Tuition:............................................................................................
School Supplies:.........................................................................................
School Photos:............................................................................................
Team Fees:.................................................................................................
Tutoring:......................................................................................................
Other:..........................................................................................................
TOTAL CHILD EXPENSES____________________________________
Financial
Auto Loan #1:.............................................................................................
Auto Loan #2:.............................................................................................
Bank Loan #1:............................................................................................
Bank Loan #2:............................................................................................
Student Loans:...........................................................................................
Credit Card #1:...........................................................................................
Credit Card #2:...........................................................................................
Credit Card #3:...........................................................................................
Credit Card #4:...........................................................................................
School Loans:.............................................................................................
Bank Fees:..................................................................................................
Safety Deposit Fees:...................................................................................
Other:..........................................................................................................
TOTAL FINANCIAL EXPENSES_________________________________
Transportation
Gasoline:......................................................................................................
License Renewal:.........................................................................................
Auto Insurance:............................................................................................
Maintenance:................................................................................................
Tires:.............................................................................................................
Oil Changes:.................................................................................................
Tolls:.............................................................................................................
Taxi:..............................................................................................................
Bus Fare:......................................................................................................
Other:............................................................................................................
TOTAL TRANSPORTATION_____________________________________
Health
Doctor:...........................................................................................................
Dental:...........................................................................................................
Eye Care:......................................................................................................
Annual Physical:............................................................................................
Prescriptions:.................................................................................................
Glasses:........................................................................................................
Health Insurance:..........................................................................................
Life Insurance:...............................................................................................
Other:............................................................................................................
TOTAL HEALTH EXPENSES____________________________________
Household
Groceries:.....................................................................................................
Cleaning Goods:...........................................................................................
Office Supply:................................................................................................
Pet Care:.......................................................................................................
Pet Boarding:................................................................................................
Vaccinations:.................................................................................................
Supplies:.......................................................................................................
Other:............................................................................................................
TOTAL HOUSE EXPENSES____________________________________
Personal
Eating Out:...................................................................................................
Clothing:.......................................................................................................
Haircuts:.......................................................................................................
Nails:............................................................................................................
Salon:...........................................................................................................
Health Club:.................................................................................................
Entertainment:.............................................................................................
Movies:........................................................................................................
Hobbies:......................................................................................................
Magazines:..................................................................................................
Newspapers:...............................................................................................
Dues/memberships:....................................................................................
Gifts Given:.................................................................................................
Charity:.......................................................................................................
Spending Cash:..........................................................................................
Other:..........................................................................................................
TOTAL PERSONAL EXPENSES________________________________
All Monthly Expenses
Housing:......................................................................................................
Utilities:........................................................................................................
Children:......................................................................................................
Financial:.....................................................................................................
Transportation:............................................................................................
Health:.........................................................................................................
Household:..................................................................................................
Personal:.....................................................................................................
TOTAL MONTHLY EXPENSES_________________________________
INCOME___________________________________________________
minus
EXPENSES________________________________________________
GRAND TOTAL_____________________________________________
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