It’s practically a financial commandment…
Thou shalt budget your money…
Whatever you measure, improves.
One of the best ways to put this wisdom into practice and see it work in your own life is to start using a budget. With it you can track your spending, measure your net worth from month to month and expose money problems in the handling of your personal finances fast.
Isn’t it a lot of work though?
It doesn’t have to be… These budgeting templates make it easy, and…
…Dare I say it.
When you you see your net worth growing in your favor for the first time…
IT CAN BE FUN.
So here are some of my favorite budget templates available online, available absolutely free.
1. Financial Snapshot & Budget
Just simple enough. Shines spotlight of focus on your net worth. Doesn’t get bogged down asking you to track every errant nickel you’ve spent. A great budget template clearly the result of a lot of thought.
2. FLOP Budget: Financial Life on One Page
A very simple and extremely balance sheet budget focusing on an asset rundown followed by a list of liabilities in your household to calculate your running net worth. Keep track of your accounts on one simple page. Don’t be fooled by simplicity–it’s powerful.
3. Zero Based Budget and Allocated Spending Budget
Looking for a budget spreadsheet with more muscle and a whole lotta swagger? If you are ‘all-in’ when it comes to budgeting don’t wish to leave any financial stone un-accounted for, then let me introduce you to the following deluxe budget template.
4. Dave Ramsey Influenced Zero Based Budget by Pay Period
Track the difference between your income and expenses for all your purchases based upon the zero based budgeting strategy championed by Dave Ramsey. This spreadsheet has a nice feature of including additional tabs by transaction type allowing you to keep more detailed expense information by type from month to month.
5. Simple Budgeting Daily Breakdown Spreadsheet
What I love about this budget is how it clearly illustrates the daily costs of your variable expenses. Each and every day you see your spending being less than your income, you can rejoice, knowing you are on the right path. Helps calculate your debt-to-income ratio, savings-to-income and quickly indicates if you are spending more than you are bringing in.
Best Debt Payoff Budgeting Spreadsheets
1. Debt Reduction Snowball Calculator Spreadsheet
Familiar with the snowball strategy for paying off your debts? It amounts to paying off the lowest balance debt first, then rolling into the next lowest, in order to build momentum. This excellent spreadsheet gives you a very detailed payment schedule breakdown and will show you how much in savings and time it will take to pay off what you owe if you keep to your budget as planned.
2. Creditor Debt Reduction Spreadsheet
List your creditors. List what you owe. List the interest rate for your outstanding balances. List your monthly payment. It does all the rest. This simple creditor breakdown template is all you need to track what you owe, what it is costing you, and how you can reduce it.
3. How Much Interest Budgeting Template
A simple budget / calculator combo. This budgeting template asks you to enter your monthly liabilities, what is owed, and the interest rates for each balance. It goes ahead and calculates out the monthly totals for you and charts visually how much your debt is costing you from month to month. Watch your debts evaporate over time.
So… What Now?
Each of the budgeting templates above have great features going for them. Ultimately, your budget template can only help you if you use it.
For that reason, choose the spreadsheet which resonates with you…
The template which hits your sweet spot whether it be for complexity and detail or simplicity and ease of use.
Pick the best for you. Use it to figure out where your money is going. Take action to fix problems.
For my money…
I prefer budgets which clearly put the focus on how changes in your spending and income affect your net worth. Regular readers here know how important I feel it is to keep your focus on growing out of your financial problems, as opposed to shrinking what you spend to within your income.
But that’s just me… Do what works.
So what are you waiting for?
- Determine where you are financially.
- Clearly set your destination.
- Measure your progress.
- Correct your course.
- Repeat until there.