You have finally tracked your spending and expenses, now what?
The primary goal for tracking your spending is to create awareness. If you have filled out your expense tracker, and don't know how to use the information that you gathered, these worksheets are for you!
The "Where Did My Money Go"? Worksheets include:
- Monthly Budget Category Breakdown
- Monthly Savings & Debt Breakdown
- Monthly Spending Comparison
All three of these worksheets were designed to help you extract valuable information for your expense trackers, so you can start making the best decisions for your budget.
Use the Monthly Budget Category Breakdown Worksheet to organize your spending and expenses into categories. Keep track of your overall monthly budget and actual spending total.
Identify the areas where you are overspending, and how each budget category compares to your overall monthly income. You can also use the worksheet to calculate your budget category percentages.
Once you have figured out how much of your income went to savings and debt, break down that information even further. It's nice to see how much of your overall income went to all of your debt, but what specific debt are you talking about?
List out your specific debts (credit cards, student loans, car loan, mortgage, etc.), how much income went to each debt, and then calculate the percentage for each debt.
Repeat the process for your savings. It's nice to know how much of your overall income went to savings, but what exactly are you saving for?
The Monthly Debt & Savings Breakdown allows you to dive deep into the details of your debt and savings spending.
Have you ever wondered how your current monthly spending compared to last month? Did you make progress, or was your spending in certain areas worse this month?
The Monthly Spending Comparison lets you put last month and the current month side by side so you can see problem spending areas. You can also keep track of how much your income changed from the previous month.
For me, If I make more money this month then I did last month, I want to know where I spent the extra money. This worksheet helps you see that!
Just tracking your spending isn't enough. It's what you do with that information that matters. If you are tracking your spending from month to month, but aren't paying attention to information that you write down, you need to start!
Your expense trackers are the most critical piece to your budget. They can tell you what spending categories to include in your budget, and what realistic limits you need to assign to each category.
Your expense trackers tell you how much cash to pull out for your cash envelopes for variable spending, and how much of your income is going towards your current goals.
You can start setting financial goals by knowing how much you can set aside for each priority. Use the worksheets to make sure your spending aligns with your current goals.
If you haven't started extracting meaningful information from your expense trackers, start today by using the "Where Did My Money Go?" Worksheets!
* These worksheets are an add-on to the 2019 Budget-by-Paycheck Workbook, but feel free to use these worksheets with your own budgeting and expense tracking method.
** Please note that this product is sold as a digital download. You will be able to download it instantly and print it at home after purchasing. You will receive access to the PDF file as soon as you check out via your order confirmation email.
SEE HOW I TRACKER MY EXPENSES HERE.
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