This is called going over budget! If you need more help, use our monthly budget calculator to get a quick idea of where your costs should be. HINT: After coming up with all your expenses, make sure your projected costs don’t exceed your take-home income. You will need to come up with an ideal amount (projected cost) you’d like to spend each month on these categories. These are expenses that change every month, and include things like groceries, gas, entertainment and clothing. Research what you’ve spent on your utilities over the past year, divide by 12 and use the monthly average as your projected cost. Utilities (sewer, electric, garbage, etc.) also count – but they’re a little trickier. This is any cost that won’t regularly change from month-to-month, including rent/mortgage, car/student loan payments, and insurance premiums. Look back at past months to come up with all of your usual expenses, and put these amounts in your budget spreadsheet as “projected costs.” Every projected cost will be one of two types: Fixed expenses: STEP 2: Come up with projected monthly expenses – “fixed” and “variable.”
Monthly budget excel example free#
HINT: You can generate a little extra income each month by having some sort of Rewards Checking, which usually pays higher interest than a normal free checking account. Also be sure to add other sources of money you expect to get each month (a spouse's paycheck, for example). Once you have your total, place it in the "projected monthly income" box. If you get paid twice per month, be sure to add those figures together for your total. This won’t include taxes, social security, your 401(k) contributions or insurance premiums, because these items are usually taken out before your paycheck hits your bank account. When figuring your income, only count the amount that you actually see deposited into your bank account every month from your paycheck.
Ready to get started? Follow these steps to create your monthly household budget planner: STEP 1: Note your “real” (take-home) income.
Monthly budget excel example pdf#
Now, you might be asking yourself, “How do I make a monthly budget spreadsheet?” You'll be happy to know, we've already created a template to help you get started! Get a free monthly budget example by clicking the one of the buttons below.ĭownload for Excel (800 KB) Download PDF (143 KB)Ī Step-by-Step Guide to Creating a Monthly Budget
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