It can be frustrating to start paying bills, only to realize there is barely enough money to cover them, and never enough to do the things we need or want to do. Where does all the money go?
With a Home Income and Expense Worksheet, you can see at a glance exactly where every penny is spent. This Worksheet is an Excel spreadsheet that comes complete with calculation formulas already done for you, and a Pie Chart to see what percentages of your income each one consumes.
What Is a Home Income and Expense Worksheet?
The Home Income and Expense Worksheet, is a financial tracking tool that does a ‘deep dive’ into how your money is spent. It follows the money management system described in the eBook ‘Simple Life Dollars and Sense’, with categories such as:
- Priority One – mortgage, food, utilities, etc.
- Priority Two – Child care, loans, savings, insurance, etc.
- Secondary One – Education, computers, books, etc.
- Secondary Two – Entertainment, memberships, vacations, etc.
Having this information at your fingertips comes in handy in several ways:
- Breaks down your Income and Expenses into detail
- Helps to see how much money you actually spend in each area
- Shows specific areas where expenses can be cut in order to balance your budget
The Home Income and Expense Worksheet will also help you when it comes time to create a budget each year. With a simple glance, you will be able to adapt this year’s budget to last year’s expenditures just by looking at the category on your Home Income and Expense Worksheet.
At a Glance Charts
To see exactly where your money is going, there are three separate Charts that can help:
- Income and Expenses
- Secondary One Expenses
- Secondary Two Expenses
By tracking these three categories, you can quickly determine areas where expenses can be reduced in order to stretch your dollars and have some left over to save.
Other Benefits of an Income and Expense Worksheet
With this Worksheet, you can easily keep track of ‘extra’ income by keeping a record of money received from the sale of items, gifts, and extra jobs.
Is budgeting for gifts each year a problem? A Gift category is also included, to help you keep track of how much you spend on birthday, wedding, and Christmas gifts each year.
Help in Times of Trouble
Keeping an itemized record of all your spending also comes in handy when you are faced with a serious drop in income, such as loss of a job, or unexpected medical expenses. Knowing how much is spent in each category can help you quickly find areas where you can cut spending or eliminate it all together.
And having a Home Income and Expense Worksheet may just open your eyes. You may not realize how much money is being spent in small, almost hidden ways. Once you find out exactly where all of your money is going, you can quickly make changes and find other alternatives or eliminate those spending habits once and for all.
Adaptability of the Home Income and Expense Worksheet
The Home Income and Expense Worksheet is an Excel worksheet. If you have knowledge of this spreadsheet based software, you can easily adapt your Home Income and Expense Worksheet to your personal income and expenses.
With simple editing, you can adapt the Home Income and Expense Worksheet to your fit with your own home’s priorities and spending.
Get started today. Take the first step of reducing financial stress and begin managing your home finances like a pro with a Home Income and Expense Worksheet!
You can also take your Financial Goals even one step further with the Simple Life Dollars and ‘Sense’ eBook and a Home Budget Worksheet that is already designed and ready to be filled in!
Find out more about those below:
Want more information on getting all of your Finances in order? Don’t miss these helpful posts:
Do you have a homestead? Homesteading has a completely different set of categories to work with. Get help with managing the financial side with a Dedicated Income and Expense Spreadsheet designed just for Homesteaders. Read more about it HERE!