Second, and more importantly, this method doesn't provide any real guidance on what to do with money as it comes in. You're left to try to figure it out as you go. Mistakes are made...frustration sets it... you give up. That's because your budgeting worksheets are missing the most crucial part of any budget _ the spending plan.
Budgeting Worksheet Tip : Goals_Based _ Most budgeting programs don't accommodate for your financial goals, they simply look back at the previous month to help you determine your spend for the current month. That is not good budgeting. If you have a cash flow problem, then it will just perpetuate into future months and you won't even realize it's happening. Furthermore, you are not creating a plan to achieve your goals. An excellent budgeting worksheet will accommodate for your financial goals and help you determine what you can afford or what it will take to meet those goals. It will take into account your income, current debt, expenses and savings to help you generate a plan to meet your goals.