Planning a budget can be a daunting task. If you have no experience using a budget in the past, this could be even more intimidating. If you have plenty of experience using budgets, there are many ways to improve a budget, so you might find something useful in these pages.
For example, maybe you’ve never used a budget tracker before. This could be a serious improvement to your budget if you use it right. Maybe you will read through this information and find that you’re already doing everything well, and that’s fine too!
Spreadsheets are a great way to keep yourself organized. You can customize them to almost any format you want. The best way to keep a budget on a spreadsheet is to have a column or row representing your income and another representing your expenses. You can label these and add them up.
You can produce an almost limitless number of mathematical algorithms to process your data on a spreadsheet. This makes them incredibly convenient, though perhaps a little difficult for those not familiar with them.
You can access a spreadsheet through Microsoft Excel, Open Office Calc, or through spreadsheet on Google Drive.
Pencil and Paper
For some people, the traditional pencil and paper is the best way to go. Though not as interactive or powerful as a spreadsheet or budget tracker, planning a budget by hand has its merits.
For example, you retain more information when you write it by hand. You will feel more in control of your funds if you write them down like this. It also helps to have a physical copy of your budget to help you solidify your plans.
Online Budget Trackers
You can find budget trackers that act like spreadsheets but also link to your bank accounts. Mint.com and similar sites/apps will help you do this. Once you have linked the site with your bank account, it not only helps you plan a budget, but it helps tell you exactly how well you are doing.