4 Steps to Preparing any Budget
Track income, expenses, and debts. Allocate percentages, cut non-necessities, increase income, align with goals for financial control.
Should you use a budget template or app?
Choose budget template or app based on preference. Consider style, lifestyle. Pros and cons exist for each approach. Start any method.
1. Budgeting Spreadsheet
Excel-based, works in Google Sheets too. Collaborate, track expenses on the go. Perfect for spreadsheet enthusiasts!
2. Budget Planner & Budget Worksheet
Free budget planners & worksheets for pen and paper or online use. Pros: simplicity, retention. Cons: manual calculations, paper management.
3. Budget App
Budget apps offer simplicity, expense tracking, and control over spending with on-the-go accessibility, but may be challenging for some and prone to app overload.
What's the 50-30-20 budget rule?
Allocate 50% to needs, 30% to wants, and 20% to financial goals. Categorize expenses and adjust perspectives for effective budgeting.
What Is The 70-20-10 Budget?
Allocate 70% income for expenses, save/invest 20%, use 10% for debt/charity. Align with goals, but personalization matters.
Tailor it to your style, manage your money flow, and make personal finance easy with a household budget."
Need More Help?
Check out my Budget Nirvana course, where I explain these concepts (and more) in greater detail.
to Discover a Wealth of Financial Content