Financial experts and advisors always tell us to budget our money, and for good reason. Because if you want to be financially secured, you must follow a budget and spend your money wisely. Want to be a successful entrepreneur? Have a budget. Want to save money on your next travel? Have a budget. In short, if you wish to succeed in life, you should know how to budget your money. Don't know where to start? Check out our Sample Budget Templates in Google Docs. From household budget templates and vacation budget templates to company budget templates, we have everything that you need. And they're all customizable and printable in A4 and US Letter sizes. Create a spending plan today! Download our templates now!
How To Create A Sample Budget In Google Docs
According to a study conducted by the Financial Industry Regulatory Authority, only one-third of American consumers find it easy to pay their bills and save money for the future. If you're someone who wants to keep your spendings in check and ensure that your savings are on track, you need to have a budget and make sure that you follow it. And to help you with that, we have provided some tips below on how you can create a sample budget in Google Docs.
1. Calculate your Expenses
Obviously, the first thing you must do is figure out how much exactly you're spending on a daily, weekly, or even monthly basis. To do this, take a look at your bank statements, check your receipts, and review your financial files.
2. Determine your Income
After figuring out how much you need for your expenses each month, determine how much your actual income is. When making a list that shows your income, remember that this should not only include your basic salary but other sources such as monthly child support for single parents.
3. Set your Debt Payoff and Savings
Once you know how much your monthly expenses and income are, you can now set your debt payoff and savings. To set the right amount of money for your debt payoff and savings, subtract your monthly expenses from your monthly income. (Take note that the remaining balance will serve as your savings.) But if the spending is more than the amount you're saving, you will have to cut out some expenses to avoid debt.
4. Plot your Budget and Record your Spending
For you to stay within the budget, make sure you record everything on a piece of paper or list it all down via digital means. Provide clear labels and divide the document into separate sections for income, expenses, and savings. To avoid the hassle and save time, choose and download Sample Budget Templates from our website.