How to Make a Budgeting Page
- 1). Analyze your spending habits. Using your receipts and bills, divide them into categories such as entertainment, gas, groceries, gym membership, medical expenses, auto payments, insurance and books. After adding up the amount you spent in each category independently, divide the sum by the number 3; the solution is the average amount of money you spend in a particular category per month.
- 2). Divide your piece of paper in half vertically. You can do this by drawing a line down the middle of the page or by physically folding the paper in half, creasing it and reopening the paper.
- 3). Label the left half of the page "Monthly Income" and the right side "Monthly Expenses."
- 4). Write the following in the Monthly Income column, with each item on a separate line: My Income, Spouse's Income, Commissions/Bonuses/Tips, Interest from Savings, Investment Earnings and Other Income. If applicable, you can also add the following to your list: Rental Income, Social Security Income, Child Support Received and Alimony Received. At the bottom of the page, in the same column, write "Total."
- 5). Write the following in the Monthly Expenses Column, in list form: Rent/Mortgage, Utilities, Insurance Payments, Groceries, Gas, Clothes, Credit Card Payments, Medical Expenses, Childcare, Taxes, Entertainment, Restaurants, Gifts and Personal Allowances. Then, add other expense categories not listed. At the bottom of the page, in the same column, write "Total."
- 6). Use your paystubs and bank statements to help you fill in the numbers for the column related to monthly income on your budgeting page. Next, fill in the expenses column. Add the numbers in each column to calculate the total for each.
- 7). Subtract the expenses column from the income column. Ideally, your answer should result in a positive number because this shows that you are not spending more money than you earn. If you wish to have more money at the end of the month or have a grand total that results in a negative figure, see where you can cut spending.
- 8). Indicate how much you will allow yourself to spend in each category of the expense column. You can save money by reducing the amount of money you spend on nonessential items like clothes, dining at restaurants or entertainment items. Then, use your budgeting page as a guide in the following months to help you control your spending.
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