![]() How I Do Our Family’s Monthly Budget (with free excel template) You can read our full disclosure policy, here. Related: How to Afford to be a SAHM on One Income Write down categories of bills and expenses.Now that we’ve considered these two factors, we’re ready to plan out our monthly budget. While you can set a maximum allowance for those categories, the number will typically change month to month. Most bills are predictable like your mortgage or rent payment (static bills), while others will be more flexible like gas, groceries and entertainment. Components of a Family BudgetĪfter considering monthly income, the next step is to plan out your categories, or as I like to call them “line items” on your budget spreadsheet. Try working with a budget of $3000 or $2500, that way you leave yourself a little wiggle room. For example: Let’s say on a good month, your monthly income is $4,000. If your family’s income fluctuates each month, err on the side of caution and pick a baseline number to work with. The most important factor here is to start with monthly income and then work backwards from there. As a student in the course, you’ll be invited to join our private SAHM Facebook group! There’s an entire module dedicated to Home Management Systems (AKA running your home on autopilot). If you’re all about step-by-step help, I teach a course called the Ultimate Stay at Home Mom Course that will help you take your stay at home mom life from chaos to control. ![]() – Hi! I’m Marla, full-time SAHM to 3 little girls. Your family’s division of responsibilities may look different, but at the end of the day, establishing a monthly budget and sticking to it, is essential for any family. This strategy will change your life when it comes to budgeting.īut first, you should know I am not a financial planner, expert, or anything of the sort! Just a mom like you who has to wear a million hats while managing a family.Īs a stay-at-home mom, I am responsible for various aspects of our daily lives:Īnd my husband is responsible for a different set of duties: I’ll walk you step by step through how I created my monthly excel spreadsheet in Google Sheets, to how I maintain our family’s budget once a month. Today I’m going to share my simple budget strategy with you. Get my free printable excel budget template to help keep you on track. ![]() Home Budget - Our original selection of home budget worksheets.Inside: Learn how I do our family’s monthly budget ! Keeping track of household expenses is essential.Family Budget Planner A yearly budget planner, with the same categories as the household budget spreadsheet.Household Budget Spreadsheet (monthly) - More detailed and includes child expenses.Personal Budget Spreadsheet The 12-month version of the above spreadsheet.Money Manger - A more advanced budget management tool for Excel.After making a change, you should check the formulas to make sure they are still correct. If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: You need to be careful when adding or removing categories, to avoid messing up the formulas used for calculating the totals. The Monthly Budget Summary table in the upper right of the worksheet totals up all your income and expenses and calculates your Net as Income minus Expenses. So, if you spend more than you budgeted for, the value in the Difference column will be red - to help it stand out as a warning. The spreadsheet uses the accounting format where negative numbers are in parenthesis like (115.00), and conditional formatting is used to make the negative numbers red - red means bad in this case. The calculations in the "Difference" column are set up so that negative numbers are bad. Using the Personal Monthly Budget Template See our articles Make a Budget and 5 Basic Budgeting Tips if you are just getting started or new to budgeting. ![]() At the end of the month, you record in the "Actual" column how much you really spent during the month.įor a more detailed set of budget categories, see the Household Budget worksheet. This represents your goal - you're trying to keep from spending more than this amount. You record your desired budget for each category in the "Budget" column. The purpose of this type of budget worksheet is to compare your monthly budget with your actual income and expenses. Some numbers are included in the Home Expenses category as an example, but you'll want to replace those numbers with your own. To use this template, just fill in numbers that are highlighted with a light-blue background (the Budget and Actual columns). ![]()
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