Budget Nerd Budget Worksheet
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Budget Nerds love this free printable budget worksheet. You will not run out of money before the end of the month with the income-based budget worksheet.
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Designed for Budget Nerds, this worksheet is to be used every time money comes in.
Use a new worksheet every time you get paid. Basing your budget on your income, which arrives every 1 or 2 weeks, allows you more control over your expenses.
It is not a weekly budget, a monthly budget or an annual budget.
It is an income budget. It is a budget form to be filled out whenever income is received. Use this free printable budget sheet every time money comes your way.
How To Use The Budget Worksheet For Budget Nerds
Download and print this sample budget.
Click on the blue numbers to skip to that section.
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Enter the dates and period of time this budget will cover.
This budget will function for you only until your next income arrives, or you have an unexpected expense arise.
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Descriptions of the budget worksheet column labels:
- Type of Income - Where the money is coming from
- Date - List the due date for bills, debts or event expenses
- Plus - The amount of money coming in per Income
- Income - A running total of how much money you get to budget
- Notes - An area I use to remind myself how I will pay each expense
- Type of Expense - Where my money is going
- Less - How much money is allocated for that particular expense
- Balance - A running total of how much money you have left to budget
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Descriptions of the budget worksheet section labels by row:
- Income - paychecks, WIC, windfalls
- Giving - church, charity, homeless
- Saving - emergency fund, new car, 401K
- Duties - insurance, taxes, child support
- Living Expenses - household supplies, groceries, health and medical, children, entertainment. Irregular expenses that meet our daily needs.
- Lifestyle Expenses - property and shelter, bills, debts. Regular expenses that define one's basic quality of life.
- Periodic - repairs, travel, gifts
- Other - anything else, including amount left unbudgeted
Refer to the Budget Planner Checklist for more about these categories.
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List the income(s) you are budgeting:
The amount still in the bank is called Carryover. Then I listed my primary paycheck and the income from my second job. The "2nd" in the Date column denotes that both arrived on the 2nd of the month.
Create a running total in the Income column by adding the amounts in the Plus column:
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List your expenses:
List all of your expenses that will be paid for by this income.
Use the Date column to indicate when bills are due.
Use the Notes column to indicate how you will pay each expense.
Create a running balance in the Balance column by subtracting the amounts in the Less column. This allows you to easily see how much money is left to budget:
- Adjust your expense amounts on the worksheet until you have a ZERO (0) ending balance.
The last expense is called Carryover. It is the amount that will sit in your checking account - unused - until it is time to budget again. This amount should then be "carried over" and listed as an Income on the next budget. Use it to zero out your budget.
A ZERO (0) ending balance shows you have budgeted all of your money. You know where each dollar will go, even if it simply remains in the bank.
Our biggest difficulty is reaching ZERO before we reach the end of our budget! However, the point is that we need to account for all of our money, whether we have too little or more than enough.
- Now use this budget!
Write checks, pay your bills, and make online account transfers.
Add up your Cash expenses and write that amount in the Cash Needed field.
Then create a cash budget for the money you withdraw from an ATM.
I use a sticky note to take with me to the ATM, like this:
Notice that I subtract each expense from the total to doublecheck my math.
Round up to the nearest dollar. Pennies and nickels make a budget far too difficult to manage. Your check register is the place to keep your records to the penny.
Conclusion
This budget worksheet is detailed enough for most of us Budget Nerds. It can get too restrictive, however. Review the Household Budget Template for Free Spirits to see a much simpler version of this worksheet.
My wife and I have been using this budgeting method for years. It is simple enough to get the budget done quickly and keep the peace.
Do you have questions about this worksheet or budgeting money this way? Ask me your questions.
Now, read the 3½ Tips on Budgeting to change your life!
