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.
When you deposit money from your income source, you simply allocate the appropriate dollar amounts to the budget category accounts, based on your spending plan or budgeting worksheet. It's easy to move money around your various spending categories or budget category accounts whenever you need to. When a bill comes due, you simply transfer money from the budget category account to your checking and then electronically pay the bill. It's easy and extremely fast once you set it up through your banking institution.