It is very important to keep your budget, bills and other paperwork organized. You can do this by using the simple method shown below. You will need a few inexpensive supplies. You can find these at any office supply store or department store.
In order to get everything down on paper in the rough, go to the Budget Worksheet. There you will find spaces with the categories listed at the top. Using the sample list at the bottom of the form, start entering your bills in the spaces provided with the amount of that bill next to it. This will be relatively simple for your housing expenses and other bills, however it will take some time to fill in your household expenses. This category is for things that you spend money on between paydays such as groceries. Be sure to consider all of the possibilities. See Sample & Instructions for the Budget Worksheet When you feel certain you have entered everything on the form, transfer this information to the Budget Form. This form is setup with five tables. The first is your expenses not including savings. The second is for your income. Remember to only consider take home income as your payroll deductions are not income that you can use. See Sample & Instructions for the Budget Form The next table is used to determine how much savings you can allow after all of your expenses are considered. This savings will be split up between your long term savings and your crisis fund. The next cagegory is to compare your budget with the ideal percentages for each category. This is mainly for information, however if you have less than 10% for your savings, you may want to see about cutting some expenses in other categories. And finally, there is a table to distribute your paycheck by the week and month. Now you are ready to go to the Monthly Bill Summary. This is where you will be able to see at a glance what bills have been paid and what you have left to pay. You will need to complete one of these forms for each month. See Sample & Instructions for the Monthly Bill Summary |