Some of these could be envelope categories, but in general, these are for bills that you can set on AutoPay. These are your utilities, subscriptions, and other recurring bills that may be variable, but are pretty much consistent and predictable. Whether you list your mortgage as a big bill or a debt is up to you. If you have a lot of different debts, you may need to lump some of them into categories such as "credit cards" and "students loans." If you are using a debt snowball, only include the MINIMUM monthly payments in this section! The debt snowball is included in the Savings section. The point is that you have a place called BIG BILLS to remind you to budget for the big important stuff, the stuff that if you don't plan for, could break you. Whether you call some of these categories "sinking funds" or "short-term savings" doesn't matter in this worksheet. Some people like to track the savings for big bills in separate accounts, sometimes even a separate sub-accounts. You can divide in Excel using a formula such as =1500/12. For a monthly budget, divide the total average yearly cost of a large bill by 12. Things like medical bills, home repairs, and car repairs can be budgeted ahead of time so that you have the money when you need it. Nobody makes it through life without unexpected big bills. This would also be a place to pull out priority savings to apply the "pay yourself first" principle. If you pay a tithe (the "pay God first" principle), then you can multiply by a percent in excel using a formula such as =10%*B9 where B9 is the Total Income. This category is for making adjustments to your gross income, such as listing the tax withholdings and other deductions from your paycheck. They are designed to help you apply the 'Pay God First' principle, the 'Pay Yourself First' principal, the 'Debt Snowball' and 'Savings Snowball' techniques, the 'Sinking Funds' idea, and the 'Envelope Budget' system. The categories in this worksheet have a very purposeful structure. Step 2: Enter Your Budget (Savings and Expenses) If your income varies a lot, you can base your budget on what you expect the minimum for the month will be. If you get paid weekly, you can base your budget on 4 weeks. If you actually get paid biweekly, you may want to base your budget on just two weeks of pay, then use your extra paycheck twice per year to do something special. You may also analyze the inflow and outflow of the cash the whole day and also compare the expense of the budget with the next days to find out the differences in the budget.If you are creating a monthly budget, list all sources of income for the month. You can have a sharp look at your money where it is going by making a daily budget plan whether in food, clothing, or any other household expenses. The purpose of designing and creating the daily budget spreadsheet is to synchronize all of you with the swiftly running time and create a balance between your earnings and expenses of the budget on daily basis. This is a more suitable and valuable spreadsheet for the people who are working on daily wages because they have limited sources of income and have a minimum budget in which they have to manage the things of the whole day and keep track by using the minimum budget they have. The daily budget spreadsheet allows you to keep your daily budget on track by making the budget plan each day according to your daily income. Elements of a Daily Budget TemplateĪ daily budget template helps you to enlist the things or items necessary for you and makes it easy for you to know about the actual income or the budget you have for the day. One can make a list of the important things which are very important for the whole day and assign the budget and cash for that thing. Therefore, one should manage the budget on daily basis avoiding the burden of the tasks according to the budget. Here the daily budget comes in handy which can be created by using the daily budget templates provided here on this page. If you didn’t manage and arrange the budget for the day in time, you get yourself far behind the time and then the management and arrangement of the budget get more complex and multifaceted. Managing the budget of the home or the budget of a factory or mill is a very crucial task.
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