Budgeting - how do you manage with weekly pay and monthly bills???

lizzyb1812

I have a very simple spreadsheet that I have been using for years and it suits me fine. Months across the top, first few rows are income, then lots of rows for expenditure. The income and expenditure are totalled separately then a few rows at the bottom to show balance brought forward, income total, expenditure total and balance carried forward.

Most of what I spend is via regular monthly, quarterly or yearly direct debits, then there are rows for holidays, gifts, house renovation where the expenditure is irregular.

If you are paid monthly add up all the income and the expenditure above for the year and the balance is what you have for "housekeeping" including petrol, food, spending money, extras, surprises, savings, etc. Divide this by 12 and that's your start budget for "housekeeping"

It really is that simple and it does work if you keep track of it. I've since shown it to a couple of people, one a single mum with 2 teenagers and one who is part of a couple who have substantial debt and I know that at least one of them is now using it regularly and says it has made a difference.

So that was a rather long answer to the question "is a basic excel spreadsheet OK" - yes it is!

lizzyb