Budgeting Types

• Traditional Budgeting: You adjust your previous budgets for expected changes

• Zero-Based Budgeting: All of your expenses must be justified before adding to your budget; it helps eliminate unnecessary costs

• Activity-Based Budgeting: allocate funds based on activities that drive cost

• Rolling Budget: Constantly change and update your budget (monthly or weekly) to fit your current needs

• Envelope budgeting: separate money into different envelopes; each envelope represents an expense. Add money into each envelope to define your budget for that expense

Budgeting Steps

• First step: To start you should calculate your net income

• Second step: Track your expenses: you can record this information on an app, a spreadsheet, or just on paper

• Third step: Set realistic goals: They can be long-term, like saving for retirement or short-term, but you must ensure that they are measurable 

• Fourth step: Make a budgeting plan and choose a budgeting method. 

• Last step: you want to adjust your spending to stay on budget and review your budget regularly to stay on track

Budgeting Spreadsheets to Download

These spreadsheets are a virtual way to help you budget. They can help you organize your expenses and track your monthly or yearly budget. 

Directions:

• Click on the spreadsheet

• Make a copy of the spreadsheet to make edits

Budgeting Spreadsheet 1 

Budgeting Spreadsheet 2 

Budgeting Spreadsheet 3 

How Can Budgeting Apply to Your Life

• Puts you in control of your money

• Ensures your money is being used to achieve your goals

• Helps you identify your needs vs. your wants

• Helps control wasteful spending

• It can help you adapt to new financial situations with less worry 

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