Ensure your family lives a frugal & fabulous life with the help of this household budget worksheet. You may also like these free budgeting worksheets.
FREE Printable Household Budget Worksheet
Did you know that 36% of Americans live paycheck-to-paycheck and another 19% spend more than they make (20somethingfinance)? As most of you probably know, I’m pretty passionate about saving money and living a frugal yet fabulous life. I’m even more passionate about helping the “average” family do the same.
In fact, I even wrote an eBook, Secrets of a Successful Family CFO, about taking control of the family finances. However, I frequently get questions about “how to get started.” I get it, finances can be scary… but it’s time to face your fears! In my opinion, the best place to start is with a budget, so please allow me to introduce you to the household budget worksheet.
Note: In my eBook, Secrets of a Successful Family CFO, I devote an entire chapter to budgeting and share valuable resources like free printable budget worksheets, so be sure to check it out. In the meantime, let’s get started with this free budget worksheet (Excel and PDF downloads available).
While having a household budget worksheet, like this one, is super important most family’s simply don’t do it. In fact, according to 60 Minute Finance only 32% of families make a budget each month. Yep, less than half.
Why? That’s a good question. I think for most people budgets are boring and intimidating at the same time. Not a great combination. In fact, they probably remind a lot of people of doing their taxes. Yikes! However, I assure you that filing out a printable budget planner is neither difficult nor super time-consuming. Actually, if you complete a household budget worksheet each month it’ll get faster and easier each time.
This printable monthly budget planner worksheet will help you compare your monthly income to your expenses and make adjustments where necessary. For example, you may not be able to set aside money for your dream vacation fund if your other “must-pay” expenses (ex. rent, electric, car insurance) are too high. In this household budget worksheet, I’ve attempted to account for all possible expenses but don’t feel like you have to fill in every line. For instance, if you don’t have any kids you probably don’t have a college fund. You can just cross that line out or write N/A. Make sense?
So, how do you actually use this free printable budget worksheet? I’m so glad you asked. It’s actually pretty darn simple.
1. Either print this worksheet out or use the free budget worksheet Excel file to keep things digital.
2. With your spouse, sit down and start filling the household budget worksheet out. The “with your spouse” part is important! You should both work on this together.
3. Start by filling in your income and any “must-have” expenses such as rent, water, and electric.
4. Once you have filled in your “must-have” expenses, you can move on to “nice-to-have” expenses.
Tip: When filling out the household budget worksheet, think carefully about what is a “must-have” and what is a “nice-to-have” expense. Luxuries like cable, name-brand products, and eating out are definitely not must-haves. Sorry!
5. Look for ways you can trim expenses.
Tip: Even if you’re not living paycheck-to-paycheck still tackle step 5. It’s always nice to be able to add extra money to your retirement savings account or other long-term investments.
6. Stick to your printable budget planner!
If you do not complete step 6 there’s really no point to steps 1-5!
So, if you’re ready to take control of your family’s finances, download your household budget worksheet now.
Ready to dive even deeper into your family’s finances? Check out the printable budget binder.
If you loved this household budget worksheet and are looking for more ways to save big be sure to follow Freebie Finding Mom’s Freebies, Smart Money Saving Tips, and Frugal Living Ideas Pinterest boards.
Here’s to a frugal and fabulous life!