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,
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,
Related Budget Spreadsheets
- Travelling Budget Template
If you are not in a position to pay out a lot of money and want to travel on affordable expenditures, you can adopt planning a friendly travel package for this purpose. These packages are reasonable for all classes of people including salaried persons. These travel packages have a wide range in which you can plan business tour, adventurous tour, honey moon tour, religious tour, cultural tour and educational tour. These packages make your travelling very cheap.
You can enjoy a delicious experi...
- Family Budget Template
The prevailing financially viable situation is going to teach the importance of maintaining your family budget in befitting manner to avoid any untoward incidence that may come across in future .There are a number of people who do not bother to budget as they are not fully aware of the purpose of family budgeting . The reason behind managing family budget is to keep balance between income and expenditure. When you create a family budget plan, you find it easier to judge what is being received ...
- Monthly Household Budget Template
There are a number of strong reasons for maintaining your household budget to make both ends meet amicably. You have often come across such a situation when you failed to understand where you money is going and this position brings about a lot of trouble for you. The wise families find out ways to sustain their income in a befitting manner and do not keep away from their household budget. If you decide to follow the guidelines of experts of household budget, you will feel comfort in life.
- Non-Profit Budget Template
There are some organizations in the world that do not operate for profits as it is not required by its constitution. These are known as nonprofit organizations and also named as NGOs. These organizations manage their own goals and objectives. Operations of not for profit organizations may vary according to their nature while some of them work to provide shelter to homeless people and others might be operating as to protect the natural environment for wild life. The process of nonprofit budget p...
- Education Budget Template
To lead a peaceful and happy living, budget plays a vital role in guiding you to save your skin from untoward circumstances that may come in your way during the whole span of life. As far as education is concerned ,the budget not only extend help in guiding you in defining your priorities when you have insufficient resources but also go a long way in telling you techniques to remain confident in odd times as well.. The wise parents and favorite great teachers are duty bound to guide their chil...