AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Free printable budget sheet1/16/2024 ![]() ![]() The 50/30/20 rule is a great way to solve that age-old riddle and build more structure into your spending habits. The basic rule of thumb is to divide your monthly after-tax income into three spending categories: 50% for needs, 30% for wants and 20% for savings or paying off debt. The 50/30/20 rule is an easy budgeting method that can help you to manage your money effectively, simply and sustainably. ![]() Take the 50/30/20 rule! The 50/30/20 rule is a simple monthly budgeting approach that advises you how much to put toward savings and living expenses each month. In fact, the best strategies to budget are frequently the most basic. What is the 50-20-30 budget rule?īudgeting does not have to be difficult, nor should it eat up hours of your time. If Your Pay Varies: If your pay varies due to tips, varying hours, and/or commissions, you can still compute an expected monthly income by adding three months of income and dividing by three. Divide this figure by 12 to calculate your monthly income. If you are paid weekly: Multiply your weekly compensation by the number of weeks in a year: 52. Then multiply this figure by 12 to get your monthly income. If you are paid biweekly: Double your take-home pay for one paycheck by the number of paychecks in a year, which is 26. Here’s how to determine what your monthly take-home income is: Any money that you get on a regular basis can be considered revenue for your monthly budget. Include other sources of income, such as social security, disability, pension, child support, regular interest or dividend earnings, and alimony, when computing income. Your take-home pay is the amount of money you have available to spend or save in addition to what you may already be contributing to a retirement account at work. These free printable budget planners will give you that physical reminder to keep going! Fill in the template and put it somewhere that will help you stay accountable, like your daily planner or fridge.When it comes to budgeting, take-home pay is the only thing that matters. Are you spending too much in one area? Did your actual bills match your expected bills? Can you cut expenses in some categories? How are you contributing toward goals and savings? Don’t beat yourself up! Just evaluate, make changes as necessary, and keep moving forward! You can work later on lowering those monthly bills, but it’s important to get an accurate count for each category at first. Be realistic! If you’re actually spending $600 per month on groceries, write that in. Go through all your monthly bills and track what you’re spending in each category. What money do you have coming in every month? For my family, we’ll also track my side hustle income each month. But in general, use these steps to fill out these budgeting planners: Some of these budget templates work best with certain budgeting systems. Those numbers on my budget become more concrete, and I’m way more likely to stick to the plan. But if you’re like me, writing something out with pen and paper makes it more real. There are tons of digital budgeting tools you could use. 5 Extreme Frugal Living Tips you Probably Haven’t Tried… Yet!Įver feel like you’ve got a hole in your pocket? Wonder where your income just disappears to? A budget template or budget planner helps you track exactly where your money goes every month.Ultimate Guide: Grocery Shopping on a Budget (Without Coupons!).Top 10 Best Planners for Moms to get organized fast!.Because you’ve got beauty and brains, too! They combine beauty and brains to help you rock your family finances. That’s why you’ll love these beautiful free printable budget templates. Moms want coloful, fun, and pretty budgeting tools to help them stay organized and energized. The same holds true with budgeting! These days budgets aren’t resigned to ugly or boring spreadsheets. Whether it’s a looking at your favorite vase of flowers while you wash a sinkful of dirty dishes, gazing at the stars while you tackle a hard run, or wearing your favorite outfit while you work, beauty gets us motivated to do hard things. ![]() I only recommend products and services I believe in! View our full disclosure statement here. Disclosure: This post may contain affiliate links, which means I’ll earn a small percentage off qualifying purchases at no extra cost to you. ![]()
0 Comments
Read More
Leave a Reply. |