Finally, take the information you have learned and create a budget for next month using a monthly budget worksheet. On this worksheet, you will fill in your income along with your fixed expenses, fixed variables, occasional expenses, and installments such as credit card payments. After you total up your income and all expenses you will be able to see if you have an excess at the end of the month or if you are short. If you are short, now is the time to cut back on some occasional expenses as well as some fixed variable expenses in order to operate a working monthly budget.
You have to start somewhere and a budgeting worksheet can make the dreaded task of budgeting much easier. Whether you use computer based software or plan to keep your budget on paper, a worksheet can help you to brainstorm the categories you will need to budget for. While most of them will be slightly different than the budget you eventually come up with, they can serve as a helpful tool that will make the entire process much easie