Creating an Effective Budget Planner Worksheet
Always remember simplicity is the height of sophistication
. In other words, sometimes making things simple makes them more effective. Same is the case with budget planner worksheets. You can create your budget planner worksheet in a ledger, in a notebook or in an electronic spreadsheet. Just make sure that your budget planner worksheet is simple. If it's simple it is most likely to be effective and it will let you handle your household budget by providing you a full control over it.
Creation of a budget planner worksheet may seem extremely complicated but you can make is quite simple for yourself. The simpler you make it; the easier will it be for you to follow it. To make the budget planner worksheet more effective, you should start by opening 3 bank accounts. First bank account should be your everyday bank account, the second one should be your savings account and the third one should be your expense account. The everyday account should be easily accessible and your income should be placed in this account. Then identify the cycle of your budget, do you earn on daily, weekly monthly or annual basis? After identifying write down the combined household income for each budget cycle, For the expense account you should be listing down the things that you have to pay for such as the power, groceries, fuel etc. Calculate the periodic total for every bill that you have to pay. If your income comes on weekly basis divide the annual bill by 52 and place the amount in the expense account. You should divide the annual bill amount by 26 if your pay cycle is fortnightly & by 12 if it is monthly. This way you can figure out the total income you earn and you can take the amount you need for your everyday purchases. The amount that you are left with after paying all the bills is called the play money. You can place this amount in your savings account for future purchases or emergency purpose or you can give yourself a treat and buy yourself something that you've wanted to buy.
Creating an Effective Budget Planner Worksheet
By: Pinky Savika
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