How to Make a Monthly Family Budget Worksheet

Here is an easy way to manage your finances by creating a printable monthly budget worksheet. This free budget worksheet is printable making it both user friendly and versatile.

Difficulty: Moderate

Instructions

Things You'll Need:

• laptop or home computer
• financial software like Microsoft Money
• Budget calculator
• printer
• monthly debts, income

1. If you have a family desktop PC, mac or personal notebook, you may access for free or can download a management software such as Microsoft Money to help design your monthly budget worksheet.

2. Design your budget worksheet around 6 main categories:
   1. Total Monthly Family Gross Income
   2. family Housing Expenses
   3. Monthly Car Expenses
   4. Monthly Debts
   5. Monthly Family Miscellaneous Expenses
   6. Total Net Monthly Income (free income available)

3. Family expenses should include rent or mortgage loans, property and casualty, insurance payments, utilities, property taxes, and any household repairs.

4. Automotive expenses include auto loans, gasoline, car insurance, and auto maintenance make up the next monthly category on your budget worksheet.

5. Debts should include any credit loans and monthly balance you choose to pay make up the next category on your budget worksheet .

6. Next list any Miscellaneous monthly budget expenses on your printable sheet:
   -childcare/school
   -clothing, groceries
   -family entertainment, cable, videos, newspaper, magazines
   -medical, vet
   -clubs, association dues
   -investments, life insurance
   -vacation, gifts for holidays
   -haircuts, nails, etc.

7. Figure total monthly income at top of your printable budget worksheet, then total your monthly expenses for each category, and subtract to get your net family income balance at the bottom of your worksheet.

Tips & Warnings

• Always round up when estimating monthly expenses on your worksheet
• Get your printable budget categories completed first and list as many as you can think of under miscellaneous before writing your own expenses in.
• Divide your printable budget worksheet in 2 if paid bi-weekly or 1 if monthly to help determine your payment schedules
• Always include a category under miscellaneous for emergency or liquid expenses and decide how much you can free up monthly to add to this fund

Resources

• Printable Budget Resources
• Budget Worksheet templates
• Budget Software
• Budget Solutions

[recessiontips]

on 4/9/2009 I use this Excel-based budget worksheet: http://www.spreadsheetstore.com/p-25-monthly-home-budget-worksheet-for-excel.aspx It is pretty great. Easy to use, lots of categories, automated and inexpensive.

[grove]

on 2/1/2009 Great advice here - thanks!

[1citygirl]

on 2/1/2009 I'm horrible at budgeting. This looks easy!

[mflinn]

on 1/31/2009 Since tomorrow's the 1st, I think I'll start one. I always put it off. Good article!

[Merriment]

on 1/31/2009 Excellent idea!