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How do I Choose the Best Budget Planning Worksheet?

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  • Written By: Tiffany Manley
  • Edited By: A. Joseph
  • Last Modified Date: 03 August 2019
  • Copyright Protected:
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    Conjecture Corporation
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Choosing a budget planning worksheet is one of the most important aspects of creating a functional and useful budget. The budget is only as good as the items used to create it, so choosing the best budget planning worksheet can help you create a budget that fits your needs. Look for a planning worksheet that suits your style, whether that is online or on paper. Also, look for a worksheet that includes many income and expense categories that you would normally use, as well as space to add your own. In addition, a budget planning worksheet that can be edited easily is beneficial.

Some people are better suited to performing budgeting functions on a computer, and other people prefer the old standby method of using a pen, paper and calculator. No one method is better than the other — it all depends on what your personal preference happens to be. Budget planning worksheets set up on the computer allow for easy access and editing. On the other hand, pen and paper allow you to have a more portable budget that can be carried around and edited as necessary.

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There are countless budget templates on the internet and in books that are available for anyone to use. Each one might have its own unique style, but they all basically do the same thing; they help you budget your money. As you are going through these templates, be sure to choose one that includes many, if not all, of the income and expense categories you might use. Someone who has rental income and expenses would need categories that focus on these, and someone needing to repay student loans would need a category for this expense. A good budget planning worksheet breaks items down into enough detail to ensure that you have not forgotten any one aspect of your budget, without weighing you down under countless categories.

Many people agree that each month will bring new expenses and sometimes new income. This means that each month’s budget might need to be edited in order to account for the changes. When choosing a budget planning worksheet, opt for one that can be edited easily to reflect the changes in your personal life. You might even consider having several copies of the budget planning worksheet to reflect various months and the different expenses that might occur during those months. As an alternative, consider breaking down occasional expenses into monthly amounts that can be added to each month’s budget.

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