Menu
Home  Join Here  Free Tips  FREE Newsletter  Win Prizes  Earn Money  Cheap Holidays  Discount Vouchers  Bargain Shopping  Minimise Your Tax  Use Affiliate Links  Link To Us  Testimonials  Recipes  Contact us.

	Members Area
Smart Bank  Tip Categories  Submit a tip  Win Prizes  DIY Cheap Holidays

	Customer Info
Payments  Security  Spam  Privacy  Terms

Savingsmart - saving money tip - budget Sheet

A budget is basically a way of controlling the spending and saving of your money. Finding out where all of your hard earned money is going and making a plan to save money.

Using Saving$mart Free Budget Spreadsheet can simply help you accomplish this.

You have the choice of the Budget Spreadsheet on Microsoft Excel with automatic calculations or you can simply print it. Use a pencil for the print out sheet for easy changes. Microsoft Excel has hidden mathematical formulas, so ensure you know what you are doing before deleting anything.

It is simple, easy and fun.  Follow the Instructions and start saving money.

Filling in the Budget Spreadsheet:

1. Enter all your monthly bills and expenses.   

2. Allocate some money for a savings account. Even if you are on a tight budget put some money away in case unforseen circumstances arise.

3. Then in the section provided down the bottom of the page, enter your yearly income after tax.   For those who are self employed, calculate the minimum of what you think you will earn after tax..

4. Now subtract your expenses from your earnings. (Microsoft Excel does this automatically) Hopefully your expenses are less than your earnings.  If not you need to cut back on some of your spending.

5. Revise how you can reduce your costs.  

6. Follow the instructions and add up 1. Fixed expenses, 2. Flexible expenses, 3. Health, 4. Recreation, 5. Lifestyle and 6.Savings.  (If you are using the Microsoft Excel, it will add and subtract automatically for you) 

7. Now divide each SUB TOTAL by 12. This is how much you need to put in the bank every month.  If you prefer, you can deposit money fortnightly or weekly.  To calculate fortnightly divide SUB TOTAL by 26 or for weekly divide SUB TOTAL by 52.

8. Open a Bank Account that offers about 5 or 6 accounts.  Hunt around as some banks offer cheaper accounts than others.

Account 1. Deposit the amount your fixed expenses average out over a month.
Account 2. Deposit the amount your flexible expenses average out to over a month
Account 3. Deposit the amount your health expenses average out over a month
Account 4. Deposit the amount you’re Recreation and Life Style, averages out a month
Account 5. Deposit your Savings
Account.6. Deposit Tax and GST every month if you are self employed 

2nd option:  You may find it works better for you to put money in one account for Fixed Expenses, Flexible, Health, Recreation and Lifestyle and have second account for savings. If you are self employed a third account for Tax and GST should be opened.  Whatever works for you.

   (Be Smart: Don’t be tempted to spend left over money in any of the accounts at the end of the month till 12 months have passed otherwise you could be caught out)