These are also known as “non-discretionary expenses” or “fixed expenses.”Īs you add up these expenses, be sure to think about things you might only pay for once every three months, every six months, or even every year.įor example, if you save money by paying your entire car insurance premium every 6 months, remember to include one-sixth of that amount in your monthly expenses. No matter how much you love Netflix, you could pause it for a month if you had to.) In other words, “have-to” bills include anything you can’t decide to skip. Fuel for your car (or other transportation).Your monthly “have-to” bills are things like: That’s your average monthly take-home pay. Add those things together, and then divide by 3.If you have cash you don’t deposit, estimate an average week and multiply that by 13.Add up your bank deposits for the last 3 months.No matter what your personal situation is, even if your income changes from month to month, you can still work out a good starting point for your monthly take-home pay: Do you get paid every week or every 2 weeks?.Do you have a side gig that brings in some extra cash?.Do you work shifts that change weekly or monthly?.Whatever you bring home each month after taxes and other paycheck deductions is your monthly take-home pay.įor everyone else, your monthly income might move around a bit: If you’re lucky enough to get paid once a month for working one job with a steady paycheck, this step is simple. The first number you need for your personal monthly budget is your monthly take-home pay. How to Get Started with a Simple Personal Budget Step 1. This guide will walk you through 4 great approaches to personal budgeting, all of which are designed to keep your budget flexible-so you can handle anything life throws at you while keeping your personal monthly budget on track. You can track your budget in a spreadsheet or use a personal budget app to stay on top of your money.įortunately, there are a few basic approaches to personal budgeting that make it much easier to get started, and they all begin with the same first steps. You can keep things at a high level or you can break your spending down into personal budget categories. So, you won’t miss anything.Creating a simple personal budget always comes down to one thing: keeping your total monthly expenses below your monthly take-home pay.īut there are about as many ways to do that as there are people on the planet. Monthly Household Budget Template Features Summary: Spending distribution among expense categories and items.Then rest will be all automatically calculated and illustrated for you! Therefore, you will be able to see the following in the dashboard section: Press the (+) sign to show the rows so that you can write the expenses of each and then get the total Expenses at the end.įinally, before starting the Dashboard, input your expenses and income items for each month. ![]() Secondly, in the Expense table of household budget template, there are lots of expenditure categories and you can input your expenses into the table. Once you do that the template will automatically total your income for you. To clarify, this printable monthly household budget template (including free version) consists of 3 main sections:įirstly, you can input your regular and irregular incomes for each month into the table. Monthly Household Budget Template Sections On which category and item, am I spending more?.Am I saving money or overrunning my monthly budget?. ![]() Besides, this is where our printable monthly household budget template would be useful which you can try the free version and see if that works for you.Ībove all, these questions will guide you in order to know what’s happening in your household financial situation and take control of your spending.Ĭommon budgeting questions are as follows: ![]() However, sometimes tracking all household expenditures can not be possible since everyone purchases personal things at different places at different times. It is always important to have a personal budget in order to balance financial status of the family.
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