Budget Plan
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Hi, it's Kim. Thanks for downloading this budget plan! This is the one I use for myself and it's worked well for me for years. I hope you like it. If you have any questions about how to use the sheet, send me an email or give me a tweet (@kimcrussell) and I will get back to you.
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The first thing you want to do is to make a copy of this for yourself. Go up to file and click 'make a copy'.
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The 1st tab is your checking/savings account. If you have more than one checking/savings account, you can right click on the tab and copy the whole tab, rename it and you're good to go.When you've got your budget set, you're going to start putting actual numbers in.
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What you're going to do in this tab is list your semi-monthly (your twice a month) income and your semi-monthly expenses (monthly expenses divided by . You're in the planning phase, so use the budget column.)Note whether the bill is due on the 1st or the 15th.
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I've left extra space for any expenses you have in addition to some general ones I put on there. Change anything around so it works best for you.The open line is to track that you've paid the bill and the payment is open and not cashed by the creditor yet. (o for open)
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When you're done, your total down at the bottom should be zero because you income minus your expenses should have nothing left over. Every penny should be accounted for.**ProTip: Pay your bills only twice a month. They either fall in the beginning or the end. Put half of the bill aside (in the actual line) half way through the month and then again at the end of the month. When those bills come due, you will have the money waiting there for you.
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If you have a negative number, that means your expenses are higher than your income and you have some adjustments to make.
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If you have a positive number, move that extra into your dream fund. That's why we're doing this after all, right?
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Notes: I put a line item for your Dream Fund. Use it. Also, I put a line item for allowance and I mean an allowance for everyone in your family, if you can swing it. We all need a little bit of pocket money to spend how we please, but don't get crazy here.
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The 2nd tab is your investments. If you have your money invested in retirement or stocks or mutual funds or whathaveyou, put them here.
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I suggest tracking retirement and mutual funds once a month. Stocks, every day.
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The 3rd tab tracks your income. If you have income coming from different sources, this is the tab for you.
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There is a space at the top for your monthly income goal. Put your monthly income goal in there because at the end of the month, next to the monthly total, it will track whether you hit your goal or not.
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If you did hit your goal, it will say Yes and if you didn't, it will say No.
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This sheet also gives you yearly totals you can use for tax purposes or tracking purposes.
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Finally, the 4th tab. This tab tracks your debt.
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Enter the debt you have, the amount of your debt, the minimum payment due and how much you paid.
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After you make your payment, type the new debt amount into the beginning debt amount and clear out the minimum payment and amount paid for the next month.
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Note: This tab doesn't take into account interest, so you will have to adjust the amount when  you get your statement, but it gives you a rolling general idea of how much debt you have.
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Instructions
Checking/Savings
Investments
Income
Debt Tracker
 
 
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