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  • Weekly Home Budget Template

    May 1st,2013 Posted in Family Budgets

    You should not take creating a weekly home budget as a simple task because it is a very difficult assignment to manage paying your bills, provisions and even putting some amount away for reserves within your income.

    First of all you must keep in mind the best advice of financial wizards of the world that most important things of life should be on paper. The budget experts also advise their clients to follow these instructions of utilizing papers in order to keep their finances in order. This exercise reveals what is being spent and what is being saved.

    In order to organize things regarding weekly home budget properly, you should not forget the guidelines of financial experts to make budgeting categories. A category may be defined as a grouping mechanism that helps a lot in managing things properly. For example you may create a category with the name of debt where you can put each you’re credit card bill. Similarly you can make use of other categories like housing, savings, utilities, charity, food, transportation, childcare, miscellaneous and income to name a few.

    Here is preview of this Weekly Home Budget Template created using MS Excel,

    Weekly Home Budget Template

    You can find a number of budgeting software programs for weekly home budget in market but at the beginning of building budgets you should choose to follow things physically. This method will help you to learn how your money is being utilized besides enjoying the opportunity of being associated with the process of budget.

    You might be aware of another important aspect of successful weekly home budget to maintaining your expenditures in the form of receipts. Some people think it a difficult assignment for somehow or other but it should be considered very important especially in case of married life. For example if one partner makes a purchase of five dollars per day from a store, it will cost your household thirty- five dollars weekly while one hundred and fifty dollars monthly. In order to resolve this issue, you should keep a receipt box in your residence and put your receipts into it regularly. Both of you should sit down peacefully after every week and bring out these receipts for managing them category wise. You may initiate this exercise weekly and you will find your box filled up quickly in case both persons are doing it regularly.

    In the last phase of your weekly home budget, you have to manage percentage of income and expenditure. You have to see with the eyes of a loan provider. You should never forget this important point that your expenditures concerning your housing should remain within thirty one percent of your net income including your mortgage expense, property dues, insurance and even landowner organization fees. It will be something alarming if your expenses are going beyond thirty one percent. As a wise man your expenditures must not exceed the limit of hundred percent of your income. In case the situation comes out otherwise, you are advised to contact some professional as you are moving toward hot waters.

    If the home budget professional could not solve your problem, you may make an appointment with an analyst or an instructor in your area in order to get assistance.

    Here is download link for this Weekly Home Budget Template,

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