Budgeting Templates

While I finished with the budgeting videos last week (if you missed them you can check them out my either clicking the budgeting label on this post or by searching "budgeting" on the left sidebar), I just think I can't stress enough the importance of having a budget.  While I included my personal spreadsheet with one of the first posts, I think it can be super important to find one you like, that has appropriate categories for you, and that you'll use.  I've just recently found the template section on the Microsoft office page, which has some wonderful budget templates that you can download and use!

Some of the ones I liked include this personal budget sheet, and the each of the following two college budget sheets:

Found here: College Budget Template

And here: College Budget

Last Budgeting Video!!!

This is the last video in the budgeting series!!! Unless of course enough of you have questions later on that I make one to go over something I missed....

Here I go over different methodologies or ways to do your spending allowances.  Remember the best type of budget is the one you use! 



As you've already seen there are so many different ways to budget and there isn't necessarily one thats better than the other but I really encourage you to fine one that matches your needs and personality.  Thank you all for tuning in! I hope that its been helpful!

Budgeting Method Options

I just got back from my Georgia/South Carolina/North Carolina family vacation yesterday, so today I made a quick video to share different budgeting tools/methods that I've used.




The 3 different options that I've run across and detailed here have been:

• Cash/Envelope System
• Mint.com
• Entering receipts into a budget spreadsheet

Budgeting continued: 4 steps to start budgeting!

Based on the response from last week's post, I am going to do a budgeting series where I share how I think that you should make a budget, different budgeting styles and just some general budgeting ins and outs.  This week I have a video and quick write up on 4 steps to start budgeting!

Quick confession: I made this last week because I knew that I wouldn't feel like putting on makeup/doing anything while I was at the beach.  I did kind of go for the beachy wave look though :p

Set a goal for why you want to budget—you won’t stick with anything unless there is a reason for it.  So whether it is saving, getting a healthier relationship with money, getting out of debt, or anything else (reasons can run the gamut), you need to have something that puts

Get the big picture of your income and spending habits—You can do this by either going through your bank account and tallying things up, or for a much easier/effective way you can sign up for mint.com, which when linked to your bank accounts will give you a comprehensive view of what you’ve been spending on. 

Review expenditures.  Each expenditure class from previous months should be placed in one of 4 categories: keep at the current amount, cut, postpone, or get rid of.   Note that postpone is really only an option for certain things like: if you are planning on taking a trip soon or making a big purchase.  If you look at your monthly expenditures and you’ve been cutting into savings or accumulating debt you need to really consider cutting a lot.  You may look at your spending habits and decide that you want to keep all of them and as long as its in your means to do so and you still have room for saving then keep what you want.  Even for people who fall into this category, budgeting each month can still be really helpful (see 5 reasons to budget). 

With your results from the last step at hand, you can write up your initial monthly budget!

Budgeting--Why it's important

While freebies and deals are fun, on of the main purposes of this site is to share advice on being better money managers.  Because budgeting in college and as a young adult can be especially difficult I want to share both my budgeting sheet: which you can then use yourself if you so desire, and also a quick video with the 5 reasons that I think budgeting is important.




My monthly budget template can be found here.  You should be able to download or make a copy of it.  I included my average percentage from all of last year, but keep in mind that mine vary a good bit from month to month.  Also my car is a big portion of my spending simply because its one of my very few fixed expenditures and I have been paying for my own insurance on a pretty new car.  Most recommend that auto expenditure for college students be no more than 10-15%.