Lesson 1: Budgeting That Actually Works - Template
Monthly Budget Planner
Income
Source | Amount | Date Expected |
Primary job | £ | |
Secondary job/side hustle | £ | |
Other income | £ | |
TOTAL INCOME | £ |
Needs (Target: 50% of Income)
Category | Budgeted | Actual | Difference |
Rent/Mortgage | £ | £ | £ |
Utilities | £ | £ | £ |
Groceries | £ | £ | £ |
Transport | £ | £ | £ |
Minimum debt payments | £ | £ | £ |
Childcare | £ | £ | £ |
Insurance | £ | £ | £ |
Phone/Internet | £ | £ | £ |
TOTAL NEEDS | £ | £ | £ |
PERCENTAGE OF INCOME | % | % |
Wants (Target: 30% of Income)
Category | Budgeted | Actual | Difference |
Dining out | £ | £ | £ |
Entertainment | £ | £ | £ |
Shopping | £ | £ | £ |
Hobbies | £ | £ | £ |
Subscriptions | £ | £ | £ |
Gifts | £ | £ | £ |
Travel | £ | £ | £ |
Personal care | £ | £ | £ |
TOTAL WANTS | £ | £ | £ |
PERCENTAGE OF INCOME | % | % |
Savings/Debt (Target: 20% of Income)
Category | Budgeted | Actual | Difference |
Emergency fund | £ | £ | £ |
Extra debt payments | £ | £ | £ |
Retirement contributions | £ | £ | £ |
Short-term savings goals | £ | £ | £ |
Medium-term savings goals | £ | £ | £ |
Long-term savings goals | £ | £ | £ |
TOTAL SAVINGS/DEBT | £ | £ | £ |
PERCENTAGE OF INCOME | % | % |
Summary
Category | Budgeted | Actual | Difference |
Total Income | £ | £ | £ |
Total Expenses | £ | £ | £ |
NET (Income - Expenses) | £ | £ | £ |
Sinking Funds Tracker
Fund Purpose | Target Amount | Current Amount | Monthly Contribution | Target Date |
Car maintenance | £ | £ | £ | |
Home repairs | £ | £ | £ | |
Annual insurance | £ | £ | £ | |
Holidays | £ | £ | £ | |
Christmas | £ | £ | £ | |
Medical expenses | £ | £ | £ |
Monthly Budget Review
Date of Review: _____________
What went well this month? _______________________________________________________ _______________________________________________________
What challenges did I face? _______________________________________________________ _______________________________________________________
Categories that need adjustment for next month: _______________________________________________________ _______________________________________________________
Action steps for next month: 1. _______________________________________________________ 2. _______________________________________________________ 3. _______________________________________________________
Progress toward financial goals: _______________________________________________________ _______________________________________________________