![]() ![]() ![]() This is the amount of money that you have left after paying all your bills.Īdjust your budget: Compare your net income with your savings and debt goals. Make sure to include all sources of income and all types of expenses.Ĭalculate your net income: Subtract your total expenses from your total income to get your net income. You can use a pre-made template or create your own using a spreadsheet or a worksheet.įill in your income and expenses: Enter your income and expenses for the month in the appropriate categories. Gather your financial information: Collect all your income and expense statements for the past month or use an app or software that can automatically track your transactions.Ĭhoose a monthly budget template: Find a monthly budget template that suits your needs and preferences. To use a monthly budget template effectively, you need to follow these steps: Savings: This is the money that you set aside for future goals such as retirement, education, emergency fund, vacation, etc.ĭebt: This is the money that you owe to others such as credit cards, loans, mortgages, etc. Income: This is the money that you earn or receive from various sources such as salary, wages, bonuses, tips, interest, dividends, etc.Įxpenses: This is the money that you spend on various things such as rent, mortgage, utilities, groceries, transportation, entertainment, etc. Edit this Template Close Components of a Monthly Budget TemplateĪ monthly budget template typically consists of four main components: ![]()
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