#PERCENTAGES OF HOUSEHOLD BUDGET HOW TO#

To find the percent spent on housing, you’d use divide your mortgage payment by your total budget amount, then multiply by 100. Your monthly budget adds up to $4,000 and your mortgage payment is $1,000. So, say you want to know what percentage of your budget you spend on housing. The value of a specific budget category or expense.The total amount of money you’re budgeting.To find the percentage of a budget, you need to know: Related post: Why Is Budgeting Important? How do you find the percentage of a budget?įinding the percentage of a budget is actually pretty easy. Then as you spend or pay bills, you take money back out of those buckets. When you budget by percentages, you can create “buckets” for spending instead.Īs you get paid each month, you fill the buckets up. The goal is to have zero money left over. With a zero-based budget, every dollar of your money is given a specific job. It’s a simplified way to create your ideal budget, based on what you earn.Ĭalculating monthly expenses as a percentage of income means you don’t necessarily have to track every single dollar the way you would with something like zero-based budgeting. It just means dividing up your income by percentages each month, then assigning each of those amounts a specific job. The spending percentages method isn’t complicated. Related post: 15 Simple Ways to Save Money on a Tight Budget Budget Percentages: What Does It Mean? Understanding how a percentage budget plan works can help you decide if it’s right for you. There are different ways to create a percentage budget plan, including the: It’s a simple way to divvy up the money you earn each month. When you budget by percentages, you’re assigning a specific percent of your income to different spending categories. If you’re new to budgeting or you’re looking for a better way to manage your money, the budget percentages method could be a great fit. Home Budget Worksheet - Our original selection of home budget worksheets.Last Updated on Octoby Rebecca Lake Household Budget Percentages: How Much Should You Be Spending?.Personal Budget Spreadsheet The 12-month version of the personal budget version.Personal Monthly Budget - Like the one above, but less detailed, and designed to fit on a single page.Family Budget Planner - This is the 12-month version of the household budget spreadsheet listed above.Money Management Template - Record transactions to automatically populate the budget vs.If you add or remove any categories, just make sure that the formulas used for the totals don't get messed up.

If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: The household budget template contains a very detailed list of categories, which you may or may not need. The Monthly Budget Summary table totals up all your income and expenses and calculates the Net as Income minus Expenses. If you spend more than you budgeted, the Difference between the Projected and Actual values will be negative, and if your Actual income is less than your Projected income, the Difference will be a negative number. In this spreadsheet, the calculations are set up so that negative numbers are bad. The cells in the 'Difference' column use conditional formatting to make negative numbers red.

At the end of the month, you record in the 'Actual' column how much you really spent during the month. This represents your goal - you're trying to keep from spending more than this amount. You record your desired budget for each category in the 'Budget' column. The purpose of this worksheet is to help you compare your monthly budget with your actual income and expenses.

#PERCENTAGES OF HOUSEHOLD BUDGET HOW TO#

You may also want to read the article ' How to Budget'. Our article ' How to Make a Budget' explains how to use these spreadsheets to create your budget. You'll want to replace the values in the Home Expenses category with your own. To use this template, fill in the cells highlighted with a light-blue background (the 'Budget' and 'Actual' columns). 42 Effective Ways to Save Money Budgeting Tips for the New Year Using the Household Budget Worksheet

Percentages of household budget