Budgeting is an important step in attaining your financial goals. It involves taking a realistic look at your income and expenses, assessing areas for improvement, developing goals, and devising a plan by which you will attain those goals. While this may sound simple, you may not know where to begin. The Generic Family Budget Template is a brilliant tool that will make getting started a breeze.
This useful template is designed to allow you to see a snapshot of your income and expenses each month as well as calculate a monthly average over time. Working through this process monthly will ensure that you always know where you stand financially and will allow you to make adjustments as needed to stay on track.
How to Use the Generic Family Budget Template
The Generic Family Budget Template is fully customizable to your family situation. It boasts a winning combination of a simple interface with robust functionality that users love. This impressive tool will allow you to get your financial planning underway in no time.
To begin, download the free Generic Family Budget Template right here at our website. Open the template and begin working on customizing your details in the Setup tab. Here you can update your name and add or delete income and expense items that are specific to your household.
Next, click on the Budget tab where you can begin filling in your starting balance, income and expenses. In rows 13-17 you fill in your income and in the subsequent rows you will enter all monthly expenses in the various expense categories.
When completed, click on the Dashboard tab for a snapshot of your data. Here you will see a graph depicting categorical spending as well as totals for income, expenses and cash flow.
Tips & Tricks When Using the Generic Family Budget Template
- Gather your monthly statements, check stubs and other necessary financial data before you start filling in your Generic Family Budget Template.
- Look for the tan boxes with instructions that will help you along the way.
- Rows 6 through 9 on the Budget tab contain formulas. Never input any data into these rows!
Download: Generic Family Budget Template
Check this out while you wait!