The idea of preparing a budget does not sound very appealing. Many of you loathe the idea of writing down your expenses and see where you spend your money. But if you are reading this, then we are sure that you are ready to prepare a home budget or at least entertaining the idea of making one. There are several budget templates, worksheets, and examples which you can use or refer.
5 Steps to Write a Home Budget
Step 1: How Much Do You Earn?
It is the first step towards making a budget. Write down all your income sources. Count the earning members in your home. Check your bank statement that how much you are earning. Income sources maybe wages/ salaries, income from self-employment, any type of allowances, any interest or dividend (periodic income), etc.
Step 2: Where Do You Spend?
Next, in line are the expenses. Here, it is important to segregate your expenses into fixed expenses, semi-variable expenses, and variable expenses. Apart from these, there are seasonal expenses or holiday expenses. Make a separate section for non-avoidable expenses like hospital and medical expense or any other expense which is more than a necessity. Write all these down.
Step 3: Your Extras
Making a budget does not mean that you should cut on all the costs and stop spending a single penny on fun and entertainment. Make a section for expenses of movies, eating out, a quick trip you have been planning, etc. Do not spend all the extra money on this stuff. Do keep in mind the areas where you can cut the cost.
Step 4: What If You are Short of Money?
It is possible that you fall short of money. Instead of turning towards credit cards, find out the areas where you can cut money. Look into your non-essential expenses and the extra spending you have planned. You will find some expenses that you can avoid altogether and will still survive.
Step 5: Follow the Budget
After you have prepared your home budget, you have to follow it closely. A budget is not meant to just write down income and expenses. Review it from time to time. At the end of the month, compare your actual expenses against the budget and see the areas where there is an adverse variance. This is an important step to make a more realistic budget for the next month.
12+ Home Budget Templates
Home Budget Template
Simple Home Budget Template
Home Budget Worksheet Template
This is a simple, bright and colorful home budget template. To control budget-related chaos in your home, you can simply download this template for making an organized budget. It is available in all file formats and can be instantly downloaded. It will help you save your time and effort of making one from scratch.
Monthly Budget Worksheet Template
To make a monthly budget worksheet for your home, buy this useful and organized template to make your home budget quickly. It is a fully editable and customizable template which can be opened with the help of your choice of application. So buy this template to keep a tab on your expenses and realize your financial goals.
Daily Home Budget Tracking Template
This is a sample expense tracking template which you can use to monitor your day-to-day expenses. It is a detailed layout to account for every single penny you spend. With its help, you can compare your monthly expenses against the actual spending. To start with your budget plan, it is a good step.
Simple Home Budget Template
It is a short and simple home budget template which has everything contained in a single page. It has every income and expense covered and apart from it, monthly secured and unsecured debts. Then there is a summary section which you can use for a quick reference to your monthly budget.
Downloadable Home Budget Template
This is another simple household budget template which you can refer to. This budget has its focus on expenses mainly. In case you have a single fixed income source or it need not be calculated, use this template. You can download this template to make an outline for your monthly expenses.
Basic Home Budget Format
If you are planning to buy a house in the near future, you need to have a clear idea of your financial health. This format is aimed to help you make your household budget and determine your monthly savings and your current debt to income ratio. In case of a particular surplus every month you can further plan to get home.
Sample Home Budget Template
This is a sample budget planner which you can download instantly to prepare your household monthly budget. State your budgeted expenses and at the end of the month, put in the details of actual expenses. And you will see the variance, the areas where you can cut the cost and how much you saved.
Simple Household Budget Layout
This is another systematic sample for making your household budget. The income section has several sources included so that you can determine your actual earnings. There may be some irregular incomes as well. There is a proper apportionment of income into each kind of expenses. The format is simple and organized.
Editable Home Budget Template
It is an editable worksheet which will help you in preparing your home budget and will save you time. It is very well organized. All you need to do is put in the details and you are good to go. All the expenses are segregated and almost every expense is covered. It is good-looking as well.
Standard Household Budget Example
It is a really simple budget template. It is not a very detailed one. Only the expenses head are written. If you do not want to make a very detailed budget and just want to cover the major expenses in your home budget, this format is for you. To make an outline of the budget and figure out how much you can save on an average, use this format.
Printable Home Budget Template
This is a monthly budget planner which is further divided into weeks. This template is very colorful. Different colors are used to depict the various expenses i.e. green color for fixed expenses, yellow color for periodic expenses, and so on. If you want to write down every penny of your spending, you can choose this editable template.