This also helps you keep a healthy credit rating. To avoid sky-high interest rates on your outstanding debts, you should make sure to pay your bills on time each month and in full. Then make sure to contribute to it as much as you can, especially if your company matches a percentage of your monthly contribution. If your company has a retirement savings plan for employees, take advantage of this. Whatever reason they have, whether they just “forgot” to or there was not enough money left, their savings account will never grow.īut if you want this account of yours to grow, set a part of your paycheck deposited into a savings account automatically.

In many cases, people think of several excuses or reasons as to why they could not or did not set aside a specific amount every month into an account meant for savings.

Savings should be an automatic part of your budget.

As soon as you have set up this simple formula, you may break it down and detail it as much as you need or want to. However, if the difference turns out to be a negative value, this is a sign that you have to eliminate certain expenses to keep yourself in the positive. The difference that you get from the take-home pay and the expenses will be your leftover that you may spend on leisure expenditures like watching movies, dining out, traveling, and so on. Start off with a simple, easy-to-follow formula – deduct your expenses from your take-home pay. While it is true that you need some level of math, you don’t have to be an expert in calculus to create and maintain an effective, working budget. If you’re making a weekly budget planner for the first time, here are four helpful tips to make things easier for you:įor some, making a budget is too tedious, especially if you think about how much math you have to do. Making a weekly budget template has become an important part of our life to ensure that our finances are always kept in order. Weekly budget template 30 (31.64 KB) How do you calculate weekly budget? After listing your categories, input the amount that you estimate to spend for each of the categories in your “budgeted” column.This refers to a category for an expense that only occurs in the month you’re presently budgeting for or expenses that don’t occur regularly. When it comes to budgeting, here are some categories you may include: Entering vague categories makes it harder to monitor your expenses. Now, create an “expenses” column and write down all of the categories you usually spend your money on.List each of your paychecks separately in the different sections. In the spreadsheet, create an “income” column then input your expected income.Launch Excel and create a column for each the following: To help you create your weekly or bi-weekly budget template while monitoring your paychecks, follow these steps. This means that it will be much easier to monitor your hard-earned dollars. This way, you will determine what the money from each of your paychecks pays for. The best way to maintain your weekly budget template is by budgeting your paychecks separately. Weekly budget template 20 (71.50 KB) How do I create a weekly budget spreadsheet? In addition, a weekly or review of expenditures reduces the stress caused by overspending at the end of each month. This makes it easier to achieve your financial goals. Monitoring and planning your budget on a weekly basis enable you to identify and possibly eliminate unnecessary expenses. Moreover, the budget also helps you keep track of your finances. With this template as your constant reminder, you will control your expenditures better because it will provide with you an overview of your income and expenses.īy maintaining a weekly or bi-weekly check on our expenses and income, this greatly helps in the prioritization of your wants and needs. Using a budget template as a guide gives you a good idea of whether you’re on the path towards meeting your goals or not.

If you have the capability to keep track of your expenses, you can curb your urge to overspend. Here are some reasons why you need a weekly budget worksheet of your own: With the use of a weekly budget template, you can easily prioritize your expenditures and consequently manage your savings well. Weekly budget template 10 (177.00 KB) Why do you need to make a weekly budget?

Budget planners templates