A budget is very important to most people who wish to live within their means. It is hard to do so nowadays without keeping a tight reign on your income as the cost of living keep increasing.
Hence, any concern individual should exercise a personal budget template to keep track of his/her finances on a monthly or yearly. This type of template will assist the individual in keeping to his budget and cash flow to avoid overspending and falling into unnecessary debt.
Hence, a personal budget template can have the following sections to record the necessary information to monitor your monthly financial status:
* Surplus / Shortfall
There will be many details under each section.
The Income column lists all sources of revenue for the individual:
* Monthly salary
* Bank Interests
* Fixed Deposits
The Expenses section notes down areas where the cash flow is impacted:
* Household expenses
* Car related expenses
* Entertainment expenses
* Health expenses
* Home expenses
The Total column records the difference between the Income and Expenses columns to note if there is a surplus or shortfall in the budget.
Each section may have the following columns to record detailed information:
* Budgeted figures
* Actual figures
These columns allow the user to record and track how each section is being utilized as the month goes by.
Consider the attached sample template for your convenience.