Monthly Budget Worksheet _ Once you complete the monthly financial report for the past month, you are ready to create your monthly budget for next month using a monthly budget worksheet. On this worksheet you will record all your monthly bills, including the amounts and the due dates. You will also allow a certain amount of money for all other expense categories based on your previous monthly financial report. If you operated last month in the red, you will want to look at where you can cut your spending this month so you have a balanced budget with a little excess at the end of the month _ So, as you can see, creating a monthly budget is pretty simple if you use these three must_have budget worksheets. It takes some time and work but living within your means is such a great feeling.
Now we have reached the make adjustments phase, subtract your expenses from your income and if you have some money left over at the end of the month you have got yourself a budget. Realistically most people will not have a workable budget at this point, again it's not really your fault if you don't have a budget, because nobody ever took the time to show you how to set up a budget, much less help you stay on a budget. It doesn't take a rocket scientist at this point to figure out that you should reduce your nonessential spending habits and that's what they usually are is habits, they are your wants, not your needs. Pare your expenses down so you have some money left over at the end of the month and you now have your first monthly budget.