the home budget tour
DESCRIPTION
This quick tour shows you how we set up and use the Sample Home Budget Workbook.I hope you enjoy it and add your own spin as you make your personal budget fit your own needs.TRANSCRIPT
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Come along for a quick tour of the Sample Home
Budget!
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There are several spreadsheets in the budget workbook. Let’s start with the “Family Budget Projection”.
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Here we project our estimated income and expenses for the year.
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We start with sources of income for year such as paychecks. Extra income may recorded from gifts or tax returns.
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We take a look at our bills and expenses from last year. For most expenses we usually project a slight increase.
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We plan for special expenses like a vacation or a special project to fix up our house.
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From our monthly estimates, we can see the projection for each quarter and the entire year.
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Now let’s look at the “Family Budget Actual” spreadsheet.
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Here we start tracking our actual expenses and income monthly.
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On a monthly basis, things could be better for us or worse, due to changes in income or expenses.
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So our family takes a different approach. We look ahead and say “How we doing this quarter? ”
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For example,in January we are over budget due to high expenses. However, we will recover quickly the next month. The quarterly total is more important than the monthly total.
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Now let’s check to see “How Are We Doing?”
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Here we can check our projection against the actual results.
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On this budget the electricity and natural gas cost more than we projected. Now we can improve our plan for next year.
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The charts add visual meaning to the data. This chart shows we projected more income than we actually received.
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Now let’s look at the “Difference in Expenses Chart”.
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This chart shows the difference in projected verses actual expenses. When the cylinders fall below the middle line, your costs were greater than what you had projected.
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Now let’s look at the “Actual Expenses Chart”.
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The final chart shows the allocation of money spent.
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This chart helps you see where you might be able to reduce your expenses.
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That’s all the tabs in the workbook! I hope you enjoyed this sample.
Holly JusticePeople | Projects | Software | Communication
I hope you will put your own spin on this
example to make a family budget to fit your
own needs.