Monthly Budget Planner
Use a monthly budget planner... if you can

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Can you plan your budget for an entire month?
If you can, try this free monthly budget planner.

> Download now.
> Skip down to How To Use It...

Read this important message before using a monthly budget:

Why Not To Use A Monthly Budget Planner

Does creating a monthly budget really work?
Or does it break down around week 3?

Budgeting month-by-month, one month at a time is impractical for learning how to budget money. It is also rather useless for those of us who still live paycheck-to-paycheck.

Try one of these worksheets instead:
» Free Spirit Budget
» Budget Nerd Budget

We only have enough until the next payday, usually 2 weeks. How can we really think an entire 4-5 weeks ahead? Something always comes along to blow our plans.

Once you are...

It is best to budget according to your income until your income thoroughly exceeds your lifestyle.

1. comfortable with the budgeting process
2. and have your money management under control
3. and no longer live paycheck to paycheck,

...then you can switch to this monthly budget planner.

If you are ready for a free household budget worksheet for monthly budgeting, then here are the instructions.

How To Use The Monthly Budget Planner

Download and print this sample budget.

Click on the blue numbers to skip to that section.

 

1. Begin by listing your expected incomes for the entire month:

   
   

   Carryover is the money left over from last month. This could be in the checking account or cash.

   Then list your paychecks and other incomes. Enter the date you expect to receive them in the Date column. List their respective amounts in the Plus column. Use the Notes column to let you know how you will receive the money.

   Add the Plus amounts together in the Available column to create a running balance of how much you get to spend.

   For example:

   

       $220 Carryover
   + $2,200 Paycheck 1
   = $2,420 Available
   
     and
    
     $2,420 Available from above
   +   $700 Paycheck 2
   = $3,120 Available
   

   
   

   Copy the last Available amount into the Total Income field.

   Scroll up to view the whole budget ^

2. Enter your expenses using the Budget Planner Checklist.

   

   The Budget Planner Checklist is a comprehensive list of incomes and expenses. It is designed to help you remember everything for your budget. Open and print it now.

   Don't enter any amounts yet. We'll do that in the next step.

   List your expenses by category. Also indicate in the Date column when special expenses will take place or bills are due.

   Descriptions of the monthly budget planner expense categories:

   
   • 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.

   Scroll up to view the whole budget ^




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.




3. Enter your expense amounts on the monthly budget planner based on their frequency:

   Ask for each expense:
   "How often do I need money for this?"

   Daily, Weekly, Every 2 Weeks or so, or Monthly?...

   » Daily

   
   1. Enter the amount you usually spend each day under the column Daily.
   2. Multiply that amount by the number of days you need it.
   3. Write that total in the Monthly column.

   » Weekly

   
   1. Enter the amount you usually spend each week under the column Week.
   2. Multiply that amount by the number of weeks in this month (4 or 5).
   3. Write that total in the Monthly column.

   » Every 2 Weeks or so

   
   1. Enter the amount you usually spend every 2 weeks under the column 2-Weeks.
   2. Multiply that amount by 2.
   3. Write that total in the Monthly column.

   » Monthly

   

   Write that amount in the Monthly column.

   ---

   Next on the monthly budget planner, subtract each expense shown in the Monthly column from the running total shown in the Available column.

   For example:

   

     $3,820 Total Income
   —   $360 Church
   = $3,460 Available
   
     and
    
     $3,460 Available from above
   —   $500 Emergency Fund
   = $2,960 Available
   

   
   

   Scroll up to view the whole budget ^

4. Adjust your expense amounts on the monthly budget planner until you have a ZERO (0) ending balance:

   

   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.

   Budget Nerds may want to enlist the help of their Free Spirit. Your Free Spirit partner can increase financial creativity, assuage many fears, and open your eyes to new options.
   
   My wife takes our budget from Budget Nerd theory to Free Spirit action!

   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.

   Scroll up to view the whole budget ^

5. Put your monthly budget planner into action!

   1. Print it.
   2. Put it where you can find and see it.
   3. Write checks, pay your bills, and make online account transfers.
   4. Add up your cash expenses and 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.

   Scroll up to view the whole budget ^

Conclusion

My Free Spirit wife and I have been using a similar budgeting method for years. We do not use a monthly budget planner. Our favorite approach is to make a budget each time we are paid. Budgeting 2-4 times a month keeps our finances simple enough to get the budget done quickly and accurately while keeping the peace.

Do you have questions about this monthly budget planner or budgeting money this way? Ask me your questions.

Now, read the 3½ Tips on Budgeting to change your life!