Let me be the first to admit – I hate budgeting. I buy too much and I always regret it later, looking at all the clutter I brought home. I hate looking at the sad total at the end of the month and feeling almost shameful about it. But, it’s a necessity if you want to get your finance in check and I bet someday it will get easier. In today’s post, I have prepared a couple printable worksheets to tackle your finances.
I’m glad you have decided to jump on this journey with me to sort out your finances. It is painful but has to be done. I’m so sorry I cannot bear myself to get you excited about this, but I just dislike the whole process so much. So, without further ado, let’s just jump right in!
CALCULATE YOUR INCOME
If you have a fixed every month income, then you are welcome to skip this section, but if you just like me work freelance or maybe even have a fixed income, but have tons of side hustles, this is going to be very helpful for you. First, I would like you to write down all your sources of income on the separate piece of paper and just give yourself a rough estimate of how much you will earn from all those. Be extra realistic, please. Those are going to be your targets to hit this month.
And now, to track your actual income, I have prepared a printable tracker for you right here:
Not many people do it, but I think that tracking your income from all your side hustle and full-time jobs or part-time jobs is so essential when getting yourself in check – who knows, maybe you are hitting your financial goals already and it’s time to increase it? Think about it.
How I organize my expenses every month is just simply using a worksheet I designed myself to estimate all of my bills and income and then adding it up together to see if I’m not living beyond my means. Also, it’s handy to see what do you actually know about how much you are spending on such a normal stuff like food or bills – especially the first time you are doing the budget worksheet.
Now, I understand that this worksheet would look different for everyone, as we all have different things we are paying out for. I tried to suit all needs with this printable worksheet, but as you know – I can’t please everyone. If you would like a personalized printable I’m happy to fix it for you, although I would have to charge you about a £1, as my time is precious those days. So if you’d like any printable I ever made or maybe a one that’s your idea completely, please contact me here with the rough description and I will get back in touch shortly.
This is just a very simple method of dividing your expenses into 3 sections – essential expenses which are supposed to be no more than 50% of your income, flexible expenses, which are basically your lifestyle expenses – eating out, snacks and any other pleasures that are supposed to be no more than 30% of your budget and savings, which are should be in 20% or more of our income. Of course, if you have a debt, the savings turn into “towards debt sort of payments”.
This method I have learned from Francesca from Pennies To Pounds, which I sincerely recommend if you have any financial problems or simply like making or saving money. If you want to find out more about it, please check out this post or this infographic.
I feel like a previous printable I have posted here on this blog would be useful with this one, which you can find here:
Also, I prepared special 50/30/20 printable worksheet as well and you can download it here:
ENVELOPE BUDGET DIVIDERS
Another way, you can try to keep your budget in check is to just once you get the income, divide the cash into the envelopes (or separate bank accounts, which you can find out more from this very helpful post by Emma Drew from EmmaDrew.info), either using 50/30/20 rule or just in budget figures, you have estimated in the budgeting session. This way, you won’t confuse yourself and won’t spend all your income in one place, completely deserting another, as I did many, many times before.
There are many brilliant inventions on Etsy to simplify this process for you, you can get some inspiration here:
Thank you so much for visiting my blog today and reading this budgeting post. As much as for a lot of us budgeting is just unbearable, I understand there are people who I have an infinite appreciation for that actually enjoy the process.
Wherever you are in your budgeting or financial journey I hope this post has helped you. I always appreciate the feedback, so let me know in the comments what would like to see here more of and how I can help you with life coaching or self-development.
If you got that far, I’ve got a little bonus for you – another printable sheet I have prepared that will help you get your payments together – an annual bill tracker!
Do you do your budget every single month? Do you enjoy the process? Or are you just starting this month inspired by inevitable Christmas period? Let me know in the comments!
This post contains affiliate links, all the opinions are my own.