Budgeting Series Week 6- Spreadsheet for Home Budgets

budget6

Hi All!

I’m Tabitha and I blog over at TabADilly. I am so excited that I am able to share some budgeting tips with you on Naturally Nesters! Don’t you just love these girls?! They are too cute.

Anywho, back to budgeting. When David and I decided we wanted to move out on our own, the first thing we did was sit down and create a budget. Creating a budget is fairly easy; what we had an issue with was the money in money out part. This is where my organization skills come in.

In developing our budget, I realized how important it was to keep track of this said budget. So I created an excel sheet to keep things organized and in prespective. Nothing fancy. Just a simple excel sheet to keep track of what we had coming in and how it was allocated to go out.

BUDGET Bold Debt payments Income 1 Income 2
Monthly Monthly yearly est payoff date without debt Annual
Net Income $1,875.00 $1,075.00 $35,400.00
TITHING $50.00 $50.00 $1,200.00 $1,200.00 $0.00
401K (Retirement) $100.00 $75.00 $2,100.00 $2,100.00 $0.00
Savings $187.50 $107.50 $3,540.00 $3,540.00 $0.00
Other Charitable $10.00 $10.00 $240.00 $240.00 $0.00
Mortgage / Rent $450.00 $5,400.00 $0.00
2nd Mortgage $350.00 $4,200.00 $0.00
Property Tax $0.00 $0.00 $0.00
Mortgage / Rent Insurance $15.00 $180.00 $180.00 $0.00
Credit Card 1 $25.00 $300.00 $0.00
Credit Card 2 $35.00 $420.00 $0.00
Car 1 $150.00 $1,800.00 $0.00
Car 2 $75.00 $900.00 $0.00
Repairs $10.00 $120.00 $120.00 $0.00
Tires $5.00 $60.00 $60.00 $0.00
Car Washes $3.00 $36.00 $36.00 $0.00
Oil Changes $2.00 $24.00 $24.00 $0.00
Student Loans $0.00 $0.00
GAS $50.00 $600.00 $600.00 $0.00
Car Insurance $125.00 $1,500.00 $1,500.00 $0.00
FOOD $0.00 $0.00 $0.00
Entertainment $100.00 $100.00 $2,400.00 $2,400.00 $0.00
Electricity bill $75.00 $900.00 $900.00 $0.00
Gas bill $45.00 $540.00 $540.00 $0.00
Water bill $20.00 $240.00 $240.00 $0.00
Sewer bill $22.00 $264.00 $264.00 $0.00
Phone bill $34.00 $408.00 $408.00 $0.00
Cable / Satellite TV bill $50.00 $600.00 $600.00 $0.00
Internet access bill $40.00 $480.00 $480.00 $0.00
Adult School expenses $10.00 $120.00 $120.00 $0.00
Kids school $100.00 $1,200.00 $1,200.00 $0.00
Children expenses $50.00 $50.00 $1,200.00 $1,200.00 $0.00
Clothing $50.00 $50.00 $1,200.00 $1,200.00 $0.00
Life Insurance $30.00 $50.00 $960.00 $960.00 $0.00
Home Owners Association Dues $25.00 $300.00 $300.00 $0.00
Car Registrations / Licensing / taxes $30.00 $360.00 $360.00 $0.00
Medical $25.00 $300.00 $300.00 $0.00
Prescriptions $35.00 $420.00 $420.00 $0.00
$0.00 $0.00 $0.00
Other $50.00 $75.00 $1,500.00 $1,500.00 $0.00
Total $1,878.50 $1,122.50 $36,012.00 $22,992.00 $0.00
Extra (+/-) -$3.50 -$47.50 -$612.00 $12,408.00 $35,400.00

Found HERE

I went online and did some research (if you Google it tons of sites will come up), and I took some examples, tweaked them, and came up with one that worked for us.

By keeping track of what we had spent for the month and how much we had left to spend on each “category” helped to put us (mostly me) at ease in the ‘worrying about money’ department.

Now you don’t necessarily need a fancy spreadsheet like mine because there are some great sites out there to help you with tracking. I now use Mint.com.

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The great thing about Mint is that is securely accesses your accounts and does all the math [and most of the categorizing] for you. I highly recommend this site!

I hope this sheds some light on the importance of keeping your budget organized, and where to start. If you choose not to use a site like Mint.com; I highly recommend doing some research and coming up with your own spreadsheet for what fits your needs best. However, I would be happy to share my original excel spreadsheet with you; if you’d like a copy just email me at tabadilly@gmail.com!

Thanks for reading, Tabitha

 

See other posts from our BUDGET SERIES: 

Spreadsheets for Home Budget

Facebook & Money

Retirement Planning at a Young Age

Living Frugally Part II

Ways to Live Frugally

What is a Budget