The Only Monthly Budget Worksheet You’ll Ever Need

Budgeting sucks. Nobody wants to keep track of every dollar. Learning how to budget your money is like staying in on a Friday night for a whole summer — it sucks!

The obvious issue is that you need to save some money/know where your money goes so that you’re not completely useless. Is there a middle ground here?

Today you’re going to figure out how to budget your money without losing your mind. You’re going to know exactly where your money goes and how you can keep more of it by the time you finish reading this piece. If not, drinks are on me.

What makes up this monthly budget worksheet that I want to share with you? Let’s look at all of the components involved.

How much money is coming in?

The very first thing you should try to figure out is how much money you actually have coming in, after-taxes. When you know how much money you have coming in, you can then figure out the rest.

Do you have a part-time job? Do you have a side hustle? Do you work full-time?

All these questions will help you determine how much cash is coming your way. Then you can move on to the next step when thinking about how to budget your money.

How much money goes out every month?

What are your monthly expenses like? At some point we all have to think about where our money goes.

What should you think about when adding up your expenses?

  • Fixed costs (rent, cell phone bill, insurance, etc.).
  • Variables (going out, food, and life).
  • Business expenses.
I’m sure I missed something. You get the drift though.

What amount of money do I want to save?

How much money do you want to save? This is for you to decide. I’m pretty random. My savings that month all depend on how much income comes in from freelancing.

I personally used ING Direct to create sub-accounts and save money for my different goals. I have an account for random savings and one for trips as well.

Savings are important to think about in your monthly plan.

The next part is even more important…

How am I going to get completely wasted?

A budget where you lie to yourself just isn’t going to work around here. I will never ever suggest that you don’t go out because I just love going out and socializing far too much.

You absolutely SHOULD factor in drinking and going out into your monthly spending. Stop lying to yourself. You will go out.

What else do I need to know for my monthly budget worksheet?

We’re not done just yet. What else do you need to know?

It always helps to increase your income. You can start an online business, ask for a raise, or find a part-time job. It never hurts to add more money to your monthly income. You save more money, pay down your debt, or spend more money on fun stuff.

Remember that it’s your money. Nobody else will care about your money. Spend it how you want to.

You’re now ready to ditch the traditional monthly budget worksheet.

2 thoughts on “The Only Monthly Budget Worksheet You’ll Ever Need”

  1. I like how you make a mention about how a budget where you lie is going to be no good. I think it might just be a psychological thing but people do lie with their budgets because it makes them feel better about what they are doing. It is only hurting them in the long wrong.

    1. You’re right Sean. Awesome to meet you in person!

      I remember when I was helping a buddy put together a rough spending plan, I included space for inappropriate activities. He tried to deny it. I told him fine. The spending plan didn’t work at all in the end. He just couldn’t accept the reality of his spending.

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