budgeting for dummies - Complete Controller

No matter your financial situation, a budget worksheet will be useful to you. Making a budget can seem like a difficult task when you look at your paychecks and bills and wonder if it will even be possible to get through the month. It can be hard even to face what your potential budget might look like. You can feel like the numbers will bury you in an unmanageable amount of stress or debt. You don’t have to wait for more stability before you face the truth. Making a budget will relieve the stress and help you avoid debt.  Creating a budget worksheet is fast, easy, and you already had access to all the tools you need right in Microsoft Excel or free, identical spreadsheet programs. Whether you spend more than you make or make more than you need to spend, knowing where the money you earn is going each month is vital. Also, where to direct the money you have leftover, and focusing on your spending is crucial when thinking about your budget. Check out America's Best Bookkeepers

Making a budget using a spreadsheet

When setting up your spreadsheet, you will have two categories: income and expenses. Both will have three columns: listed sources of income or expenses under the designated category, projected earnings or cost, and actual earnings or costs.

Under income, in the first column, you will add all your sources of income. This could include your paycheck, cashback on credit cards, financial aid, or other allowances, each of them in their row. In the next column, “Projected Income”, you add what you expect to earn in each of these categories. In the last column, “Actual Income”, you will enter what you received, and when you received the earnings. Check out America's Best Bookkeepers

Under expenses, in the first column, you will add all your expenses in the same way you listed your income.  You will also add the projected cost of each item and the actual cost after receiving the bill. You can list your expenses two ways, by largest expense to smallest or by the due date. This will be dependent on works best for you. 

Most spreadsheet programs will total each column automatically. These totals can now be compared to assess whether your income exceeds your expenses, or your expenses exceed your income. Knowing this will help you make spending and saving decisions.  If you have a surplus at the end of the month, you can put it in savings, spend it on items you desire, or take a vacation. If you have spent more than you make, you can use the spreadsheet to identify expenses that can be reduced or cut out. Check out America's Best Bookkeepers

No matter your financial situation, making and keeping a budget should be a priority. This type of personal bookkeeping can make a difference in your bottom line and also positively affect your future financial health. Now you see that creating a budget worksheet is easy and a worthy tool to control your finances and be stress-free.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers