The point of our budget worksheets is to set a monthly budget and then track expenses when they come in so we can stay under budget.
If you haven't already done so, download the spreadsheet and open it in Microsoft Excel. If you don't have Excel, you can use Libre Office, which is available for free here.
Enter how much you want to spend for each category:
If you want to add more categories, just add them below the existing ones. For example, let's say we wanted to budget money for pet food, we could enter it like this:
If there are any categories that you don't need, then just set the budget to 0.
Finally, check that the total amount of your budget is what you want. If it is too high, you might need to adjust the categories. Try to make sure that the total is less than you make every month.
Now to keep track of your expenses, you will need to enter them as they come in. To enter expenses, go to the second tab of the spreadsheet. This can be found by clicking Expenses in the lower left corner:
When you spend money enter it on a new line. Choose the category from the pull-down menu.
Then enter the amount you spent. If you want, you can also enter a date and description.
Budgeting tip! It's easier to keep track if you put most of your expenses on a debit card. Then you can enter them into the spreadsheet directly from the statement. When you take money out from the ATM, enter it all under "pocket money", and you won't have to worry about tracking every pack of gum.
To track your spending, return to the summary tab. We will show you how much you spent in each category, as well as the total amount.