How Do I Budget?

I’m sure you’ve heard that budgeting is a thing that people do, but have you ever done it yourself? Have you ever looked closely at where your money goes, or does it just kind of disappear before your eyes? If you are like a lot of people, you have probably never sat down and completed a budget, but this practice is becoming more and more popular because people want to have more control over their money. If you are ready to take control of your finances, budgeting may be something for you!

We put a budget worksheet below to get you started. Budgeting doesn’t have to be complex or scary, it can be as simple as filling out the worksheet below. The top half of this worksheet is ‘Fixed Expenses’ so these expenses will be the same every month. All you need to do is fill in the amount of money that you spend on each category every month.


budget worksheet 2

The second section is ‘Variable Expenses’ so this will be a little different. This is also the most important part of your budget. Variable Expenses are so titled because they can change every week or every month; you won’t always spend the same amount on these items, but by creating a budget you can try to spend a similar amount and keep those expenses low. Things like going out to eat or drink can end up costing us a lot of money. We hardly even notice it in the moment, but it really adds up! That is why a budget can be beneficial.

For the ‘Variable Expenses’ you will want to try to estimate how much you spend in these categories. You may not be able to be precise the first month you try, so you budget for ‘Variable Expenses’ could end up changing. However, eventually you will know how much you spend and then you can work to decrease that spending slightly. You might not notice if you go out to eat one less time a month, but you will save a significant amount of money if you incorporate things like that into your life and your budget.

Also, if you find you have extra expenses that aren’t on this worksheet, like a car payment or a certain amount of money you want to save every month, you can simply add those categories in. Tracking your spending and trying to limit your Variable Expenses can help you take control of your money. Then you can spend it on things you really need or want. Use this worksheet to give budgeting a try!

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