Using the weekly budget template is a brilliant way to allocate your budget for a week or two for different expenses starting from the beginning of week. Then, you can calculate the difference at the end of the week—or month, as you desire. Compare the result with the actual budget that incurs throughout the period of time to see if you’ve gone in line with your plan or not.
Download the Spreadsheet
Generally, the weekly budget template spreadsheet helps record the entries for all types of expenses or payments you may incur. Updating the sheet regularly is recommended so you can monitor the actual cost that incurs against the cost budgeted to calculate your weekly budget correctly.
Record Your Income
It is not really difficult to find a weekly budget template. Rather, it’s pretty much the opposite. Simply downloading the template will always do so you can immediately record your income details. Bear in mind that there may be different categories of income, such as wages, dividends and interests, reimbursements or refunds, transfer from savings, and even miscellaneous income.
Calculate Your Expenses
The same goes for your expenses. Typically, a simple weekly budget template will also categorize the expenses in different types, such as home, transportation, health, daily living, entertainment, recreation, holidays, dues and subscriptions, financial obligations, personal expenses, and miscellaneous payments.
Using the Budget Template
Inside the spreadsheet, you may also find the summary table for your weekly budget that provides all the details of the following: Starting Balance, Total Income, and Total Expense, in addition to the net income and details regarding your expense. Some spreadsheets even offer you a detail of your projected end balance plus the difference between that and actual one.
The projected end balance means the sum of money you can save from your income in a week. This will only be achieved if your budgeted goals are attained for the expenses incurred through the week.
Bear in mind that budgeting is not only about watching your spending. How much you earn affects as well—for instance, whether you have enough money spared to pay off debt or for saving. Regardless of which budget template you’ll be using, all of them basically work the same way: you add up the amount of money coming into you and the one going out, and then work out the difference. Is it a surplus or a deficit?
Without a doubt, a surplus will be your aim if you want to spare enough money to help pay off your debt faster or for saving. And with a budget planner or template, you can always list your incomes and expenses easily—you may even record your daily spending and make a list of your annual costs!
In the end, a weekly budget template helps you plan your personal finance in a weekly basis to achieve the savings targets. Your expenses can be assessed every day and an immediate decision should be taken in order to avoid unnecessary expenses from incurring. Hence, it helps control your financial future and gives you a sense of secured feeling.
weekly budget template sample