#Personal budget plan template update#
#Personal budget plan template free#

#Personal budget plan template free#

Thankfully, there are simple ways to save money when you don’t have free time to pursue a side hustle. Separating your necessary monthly expenses (needs) from your wants can be challenging at first. The remaining 20% for savings and extra debt payments should include saving for retirement and boosting your emergency fund.

Your “wants” might consist of streaming plans and date nights. The 50/30/20 rule divides your cash into one of three categories:Įxamples of your “needs” include your minimum monthly loan payments, insurance and living expenses. You’re also more likely to be able to afford a one-time financial surprise or temporary pay cut without going into debt. Only spending half of your income on needs means you’re not living paycheck to paycheck. The “50/30/20 rule” encourages you to only spend half of your monthly income on necessary expenses. Most budgeting templates are a zero-sum budget where you assign a budget category for each dollar you earn. You can modify the income and expense categories to fit your personal spending plan.Ĭheck out our Free Budget and Financial Planning Printables as well. Expenses – Groceries, giving, “His” and “Her” spending, vehicle and gas, etc.Housing expenses – Mortgage/rent, utilities, internet, insurance, etc.Income – You and your spouse’s (if applicable) monthly salary.The Starter Budget takes a monthly look at these categories: You can open the Starter Budget in Microsoft Excel or Google Sheets. Using Well Kept Wallet’s own Starter Budget is free and saves you time. The digital alternative is manually logging each transaction into your spreadsheet.īuilding your own template can be effective, but it’s easy to overlook certain expenses.

The simplest budget is writing your income and expenses on a piece of paper. These complex budgeting templates are “too smart.”

#Personal budget plan template update#

You may only need a basic budget template that lets you quickly compare your income and monthly expenses.Īdvanced spreadsheets may require too much effort to update or can be confusing to navigate.