[FREE] Beginner Printable Budget Worksheet for Your Finances

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Eight years ago this year (2024) I added free printable resources for the readers of Financial Best Life and I love hearing from readers how they've used the home buying checklist, debt tracker, and beginner printable budget worksheet to whip their finances into shape. [Get your printables for free by signing up with your email here.] Even if they don't end up using the resources long-term, I've received a lot of feedback about how they made it easier for novices to simply start.

So, if you're looking to take control of your finances and start budgeting like a pro, this worksheet is the perfect tool to get you started.

How do I use this beginner printable budget worksheet?

Budgeting is a crucial aspect of managing your finances effectively. You know that, or otherwise, you wouldn't be scrolling on this site right now! If you want a more in-depth look at budgeting, read my 50-30-20 budget tutorial here, or my primer on how to budget money on a low income. Those are the posts that really go with this printable, but anyone can use it at any starting point.

To start using our beginner printable budget worksheet, here's what you need:

  1. your monthly income (all sources, including side hustles!)
  2. your monthly expenses
  3. A pencil and calculator
  4. Your printable (grab it here. You'll have to subscribe and then it will come to your email. Be sure to check your spam if you don't have it within two minutes!)

Beginner Printable Budget Worksheet (Step by Step)

Starting at the top, using my printable, you want to put in your income every month. Then below it, you can see the formulas (utilizing the 50-30-20 method, by the way) for how much you have to spend in each spending category.)

Write the numbers down of how much you have to spend — it's important to track how much you have to spend by how much you're currently spending when tallying your expenses on the next few pages.

When creating a budget, I've found it's best to start by listing all your sources of income and then track your expenses. (Here's a great post on how to track and then cut your expenses too.) Starting fresh with the printable is a great chance to review your expenses and see the most important areas where you're able to cut back.

In the budget printable, I differentiate between essential expenses (such as rent, utilities, and groceries) and non-essential expenses (like dining out or shopping).

Admittedly, there's not a *ton* of room in the printable for extra categories — so use it as a guide and do all your calculations on paper or an excel spreadsheet (like the one offered in my Financial Best Life Blueprint), or print off multiple pages.

How's your spending looking? Go back and check the amount you have to spend based on your income and see if you're over or under. Over? Figure out where to cut. Under? Give those dollars a job by allocating to savings/debt repayment or by purchasing something that you highly value.

Debt Repayment and Savings

Everyone has financial goals. And in your budget is where you make space for them. I always have multiple financial goals, and so I need to prioritize them (Here's my tutorial on financial goals), and so this section changes the most often. Once I hit a priority goal — it is on to the next.

How you tackle debt vs. savings is up to you — but I once paid off $8,000 in debt in 90 days by only having $1,000 emergency fund in the bank. I think in this high inflation weird economy we're living in right now (2024), it's better to prioritize a healthy emergency fund, but if your interest rates make it difficult for you to make real payoff progress, perhaps it is best to

The TL:DR – Using budget printables

It really doesn't matter how you set your budget (printable, paper, excel spreadsheet, or app!) Set financial goals and allocate your income accordingly to meet those goals. Regularly review and adjust your budget as needed to stay on track with your financial objectives.

The beauty of a printable (I think) is that it's a great jumping off point for beginners to get their financial numbers ON PAPER, and then start playing around with expenses etc. before committing to a permanent space like an excel file or budgeting app. Either way, you can't go wrong — just be sure to adapt it to your life and how money makes sense to you.

Want to take your money management to the next level in 2024? Learn more about The Financial Best Life Blueprint, our digital product that comes with e-books, excel spreadsheets and more to help you take control of your finances, eliminate the overwhelm that comes with managing money, and achieve your money goals faster. FBL readers can get the Blueprint for just $5, by using code BESTLIFE. Click here to explore.