Another good example of the benefits of using a template as you create your budget is the category labeled vacation. While most people don't budget for their vacation on a monthly basis on their budgeting worksheet, experts suggest that you incorporate all of your one time or annual expenses into a workable monthly budget. This way, when vacation time rolls around, you will already have all the funds you need. Think of the other one time or annual expenses in your financial picture that you may need to plan for on a monthly basis.
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.