By Jennifer Tucker
September 12, 2024 | 2 Min. Read
The web is awash with tools and resources that can help you build your budget and make a spending plan. A simple sheet that tracks your money in and money out is the easiest way to get started. You can create your own budget spreadsheet or download an existing resource, like an Excel budget template or Google Sheets budget template. From there, all you have to do is:
Here’s an example of what your budget spreadsheet might look like:
| Monthly Income | Monthly Fixed Expenses | ||
| Wages | $ | Rent | $ |
| Public Assistance | $ | Car Insurance | $ |
| Child Support | $ | Cell Phone | $ |
| Social Security | $ | Child Care | $ |
| Other | $ | Other | $ |
| Monthly Variable Expenses | |||
| Transportation/Gas | $ | ||
| Utilities | $ | ||
| Groceries | $ | ||
| Eating Out | $ | ||
| Credit Card Payments | $ | ||
| Other | $ | ||
| Total Income | $ | Total Expenses | $ |
Ultimately, you want the figure next to “Total Income” to exceed the figure next to “Total Expenses.” Sometimes, that’s easier said than done! If you find yourself in a deficit, there are steps you can take to better balance your budget. When you adjust the figures in each column to meet your budgeting goals, you’ll be better positioned to build your savings, pay down debt, or allocate a few extra dollars toward discretionary spending.
No matter the format you decide to use, Marine Credit Union has a variety of calculators and other budgeting tools that can help you fill in the details. Our free online calculators can help you: