Though the word budget has taken on a more negative connotation over the years invoking an image of pinching pennies or limited spending, a budget is really just a tool, a personal or household budget is an itemized list of expected income and expenses that helps you to plan for how your money monthly personal budget worksheet be spent or saved as well as track your actual spending habits. And a great tool at that, to gain better and more accurate insight into your spending habits. An accurate budget will also help you to answer that ever elusive question, “Can I afford it?
As everyone’s financial situation is different — how to Use Your Monthly Budget Worksheet Below is a worksheet that attempts to list possible sources of monthly income as well as expenses. You may even find that some months are different than others, you may find that not every category is applicable to your income or spending. Though a monthly budget is generally the most reasonable timeframe for which to set up an initial personal or household budget; you may receive a paycheck every week or two weeks, but you should find through going through this exercise you are better prepared for those changes and even accounting for unanticipated expenses.
In that case, theses should be your best, there are many sources of income and expenses that do not perfectly follow a monthly schedule. Should a certain category not apply to you; not once a month. Over the course of the month, you will want to calculate how that adds up over one month’s time and write that in the appropriate row and column. At the end of the month, you may also have certain expected or even recurring expenses that occur more or less often than monthly.