Budgeting

You have to start somewhere and a budgeting worksheet can make the dreaded task of budgeting much easier. Whether you use computer based software or plan to keep your budget on paper, a worksheet can help you to brainstorm the categories you will need to budget for. While most of them will be slightly different than the budget you eventually come up with, they can serve as a helpful tool that will make the entire process much easier.

You can find several varieties of a budgeting worksheet online that you can print or use as a template in one of your existing programs. Even if you just use it to get ideas, it can be a big help when you sit down to create a money management plan. While not everyone has the same income and expense circumstances, this type of worksheet is a great place to start.

If you do find a budgeting worksheet that you like, you can simply add categories to it or replace the ones you won't use with your own items. For example, many of these worksheets that you will find online have a place for investment income but if you don't have any investments to track either ignore that category or replace it with one of your own.

Once you view a few of these templates, you may realize that you have more categories of spending than you thought. For example, when first creating a budget, many people forget all about gifts, subscriptions, and pet expenses but by working with one of the preprinted templates, you may remember additional expenses you need to consider.

Another good example of the benefits of using a template as you create your budget is the category labeled vacation. While most people don't budget for their vacation on a monthly basis on their budgeting worksheet, experts suggest that you incorporate all of your one time or annual expenses into a workable monthly budget. This way, when vacation time rolls around, you will already have all the funds you need. Think of the other one time or annual expenses in your financial picture that you may need to plan for on a monthly basis.

By incorporating virtually every expense into your monthly budget, you can rest assured that all of your obligations will be taken care of. Look online for examples of a budgeting worksheet that you can use to get started. Many of these are free and you will most likely find that they make the task of creating a budget much easier.