I have suffered from stress before because I wasn’t able to manage my finances well. That’s the end of my agony and I have learned my lesson. I have realized the importance of monitoring the deadline of my bills to avoid having penalties. It’s a fresh start for me this year! Because it’s Financial Wellness Month and I have created my New Year’s resolutions, I have made my own version of Budget Plan. In fact, I will be sharing a PDF version of this printable for you to use.
Why Make a Budget Plan?
This will help you track your monthly expenses and figure out which thing/service do you need to keep and let go. You will also know if you have saved money or not. So here you go, I have shared a budget plan sample.
On the next page, I created the actual expenses so I can compare and evaluate myself in managing our finances.
Now, I’m documenting my weekly groceries too! Before we only spend an average P3, 000-P3,5000 per week, but now it’s P4, 000-P4200. So this is the one that I should work on.
I included Budget Analysis pages (things to eliminate /downgrade and things/services to be added).
This is just to be transparent. Sometimes, we tend to forget why we overspent and of course, we don’t want that to happen again.
The next page is for the monthly savings (one in the bank account and the other one in the emergency fund at home–it could be a piggy bank or your own wallet). I opened a bank account recently and I make it a point to deposit even a small amount every payday. Honestly, I don’t enjoy my salary because it covers all the monthly expenses. If I don’t have loans and bills are smaller, then I could have saved more and can bond more through staycations and travels, eat and shop. Well, this is reality and what we can do is to sacrifice to be able to survive.
Now I just added the last page to motivate me in saving for the whole year. If I can see what are the things I will be getting, I might be able to cut down some of the expenses and save.
I hope I was able to give you an idea how to create your own budget plan but you can use this FREE printable that I created. Happy budgetting!