Creating a monthly budget

How to create a monthly budget

You can create a budget by listing your bills and expenses for the current month on paper or using a spreadsheet (MS Excel).  Include the due dates and the amount due for each bill and expense.

First, list your housing expenses:

• Mortgage
• Rent
• Homeowner’s/Renter’s Insurance
• Property Taxes

Next, list your utility bills:

• Gas
• Electric
• Water
• Sewage
• Trash Disposal
• Cable
• Telephone

Then, list your other bills:

• Mobile phone
• Internet/DSL
• Credit Cards
• Personal Loans
• Home Equity Loans
• Car Loans
• Car Insurance
• Life Insurance

Next, budget and list the following expenses for the month:

• Groceries
• Grooming – Hair appointments, manicures/pedicures
• Pet grooming

Finally, total up the amounts due for each bill or expense within their respective sections (housing expenses, utility bills, other bills, and other expenses).  Add up the totals for each section (housing expenses, utility bills, other bills, other expenses) to calculate the grand total of your budget for the month.

Example: Monthly Budget on a MS Excel Spreadsheet

For additional assistance in creating a monthly budget, contact me via

Email yourpersonalfinances@yahoo.com

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