When the actual amounts have been put into the budget don’t be too hard on yourself, it’s now time to look at where you are overspending and work on these areas.Experts say budgeting is hard for new parents because they tend to focus on the short term instead of the long term.For little items paid for with cash where a receipt is not received, keep a notebook and pen in your handbag to keep track of these expenditures.When starting to budget it’s a good idea to keep receipts for everything, this is so you can get a really good idea of the actual money you are spending.Don’t forget to include items such as haircuts, manicures, play gym entrance fees etc to your budget.Have on hand all your bills, rent receipts/mortgage statements and payslips so you can easily add in these details.Be honest with the figures when budgeting, even remembering the little of things you spend money on, as it’s always these that add up.Set aside some uninterrupted time to start your budget.The graphs will show you whether you have any cost savings or are overspending and in which areas this is. Use this sheet to see how your income and expenditure is tracking compared to your budget for a particular month or the entire year. The graph will then show you the actual summary and spending summary for a particular month or the entire year.Īll the data for this sheet is automatically added from previous data you have added from the Budget by Month and Actuals by Month tabs. It’s great to keep track of even the littlest of things, eg how much you spend on takeaway coffee each week, as the littlest of things always add up. This is where you type in all your actual actual income and expenditure on a monthly basis. The amounts entered into this sheet are automatically added to the ‘Budget versus Actuals’ tab which will then easily allow you to compare your actual income and expenditure to your original budget. A graph will then show you your budget summary and spending summary for a particular month or the entire year. Add in the amounts you expect to receive or spend under the relevant month. Eg, I find that winter months our electricity bill is a little higher as we use the heater more often. This ‘budget by month’ is still very easy to use, but helps you to create a more detailed 12 month budget as there maybe months that some expenses are higher than others. This sheet also includes a graph that will automatically show you your average monthly summary and a yearly summary for your income and spending. If you don’t have a lot of time you can use the ‘basic budget’ sheet to create a quick and easy budget. With the option to select the frequency that you receive the income or pay the expense and the amount for that period in the amount column. You can personalise each sheet by adding in your own descriptions.All formulas and graphs are programmed in. Very easy to use by simply inputting the numbers.This budget is an excel spreadsheet that you input all your data into, it comes with easy to understand instructions.We have created a Household Budget which is very simple to use and I am so pleased to have it available in my shop It really helps to relieve the stress of only having one wage when you know exactly how much you can spend and if you can splurge when there is a sale on clothes! Read further on my tips for budgeting.Ĭouple the budget with the Bill Organiser and you are on the road to organised finances! I really recommend you find the time to sit with your partner, prepare your budget and work on a future plan together. When I first started comparing our budget to actual expenses I realised I spent a lot of money each month on magazines and hiring DVD’s, it was good to see, I didn’t stop myself from buying them, but instead I limited it. Every 6 months we sit down and work on our family budget to help ensure that we are not overspending and that we save money to put towards a big ticket item such as a holiday or new car.
And the biggest lesson I learnt was to budget. My hubby Scott is an accountant (runs his own virtual accounting firm) he helped me to understand the changes that going to one income meant. Be more budget conscious with the groceries.The cost of raising our newborn twins, nappies, formula, clothes etc.How much to anticipate our bills were each month.A few things that I needed to learn quickly was: The choice of becoming a stay at home mum and reducing the family income to one wage is a big adjustment.
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