Embedded Files
the Emergency Budget
Things to know before you get started
Things to know before you get started
Enter ALL inputs in LIGHT GREEN FIELDS
You will receive a warning when trying to edit a protected field. Please follow the warnings, and DON’T CLICK “Don’t show this again for 5 minutes.”
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Already using The Ultimate Budget? - Click Here to copy the COVID-19 Sheet into your Ultimate Budget
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2. enter your CURRENT budget
2. enter your CURRENT budget
Please use your income and expenses BEFORE you were financially affected by the pandemic in the Budget section. The next section will allow you to plan for the emergency.
If you've never created a budget before, this is a good time to start. Here is an overview on How to Make Your First Budget.
A. Ensure you're on the Budget tab, by clicking on the Budget tab
B. Enter your Net Income, be sure to include all income. Be sure to double-check the frequency of income. Example: your partner's, rental income, side hustles, etc...
Note: Since this Simple Budget is geared for the beginner, if you contribute to any pre-tax or taxable investments please exclude them on this budget and adjust your paycheck accordingly.
C. Enter the frequency and amount for EACH budget category. Be sure to double-check the frequency of expenses. It will automatically calculate monthly and yearly values.
If you’d like to change some Optional settings for the Life Category, you may do so on the right hand side.
3. Edit Your Emergency Budget
3. Edit Your Emergency Budget
All of the reported amounts in your current budget will transfer over on the Reported Monthly Amt Column (Column B).
Only enter values that will change in Temporary/New Amount (Column C) and End Date (Column D)
New amount = the amount you expect your income or expense to change to
End date = Enter the date you expect the temporary amount to change. Any days following the 1st of the month will revert to the original reported amount on the next estimated month’s budget.
Leave New Amount & End Date blank for values that are unchanged.
4. VIEW Your Emergency Budget
4. VIEW Your Emergency Budget
Month-by-Month Temp. Budget Dashboard
Loss of income shows in REDNegative budget balances will show in RED
In Columns F through L, you can view your emergency budget.
The chart will depict income, expenses, and the effect of your balance for the next few months.
Temporary Expense Details
Increase in expenses are in REDDecrease in expenses are shown in GREEN
Advanced Editing
You can edit future estimates of the Expense Details, but you will receive a warning. This is useful if you are holding off paying a utility, penalty free, until a future date.
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