How to Make a Monthly Expense Workbook
Here is an easy way to manage your personal finances by creating a sample monthly expense workbook. These budget sheets are printable making them both user friendly and versatile.
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Things You'll Need
- laptop or home computer
- financial software like Microsoft Money
- calculator
- hp printer
- sample of monthly debts, income, expenses
Instructions
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If you have a home desktop PC, mac or personal notebook, you may access for free or can download a budget management software such as Microsoft Money to help design your monthly expense workbook.
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Design your monthly workbook around 6 main categories: 1. Total Monthly Gross Income 2. Monthly Home Budget Expenses 3. Monthly Car Expenses 4. Monthly Debts 5. Monthly Family Miscellaneous Expenses 6. Total Net Monthly Income (free income available).
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Monthly household expense should include rent or mortgage, property and casualty, loan payments, utilities, taxes, and any home repairs.
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Automotive expense should include car loans, gasoline, auto insurance, and maintenance make up the next sample category on your monthly budget workbook.
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Monthly debt expense should include any credit loans and any free monthly balance you choose to pay make up the next workbook category.
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Next list any Miscellaneous monthly expenses as any other personal expenses such as: -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.
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Figure total monthly income at top of your expense workbook, then total your monthly expenses for each category, and subtract to get your net income balance at the bottom of your budget sheet.
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Tips & Warnings
Always round up when estimating your monthly expense
Get your household budget sheet completed first and list as many as you can think of under miscellaneous before writing your own sample expenses in.
Divide your budget workbook in 2 if paid bi-weekly or 4 if every week to help determine your monthly payment schedules
Always include a category under miscellaneous for emergency or personal expenses and decide how much you can free up each week to add to this fund
