Budget for Beginners
Budget for Beginners
Introduction
Embarking on the journey of personal finance management can be both exciting and overwhelming. This Budget for Beginners is designed to simplify your financial planning, helping you keep track of your income and expenses, so you can make informed decisions and achieve your financial goals.
Prepared By
[YOUR NAME]
[YOUR EMAIL]
Income
|
Source of Income |
Amount |
Frequency |
Total Per Month |
Notes |
|---|---|---|---|---|
|
Salary |
$4,000 |
Monthly |
$4,000 |
Primary source of income |
|
Freelance Work |
$800 |
Monthly |
$800 |
From graphic design projects |
|
Investment Income |
$200 |
Monthly |
$200 |
Dividends from stocks |
|
Other Income |
$150 |
Monthly |
$150 |
Side gig earnings |
Expenses
|
Expense Category |
Amount |
Frequency |
Total Per Month |
Notes |
|---|---|---|---|---|
|
Rent/Mortgage |
$1,500 |
Monthly |
$1,500 |
Apartment rent |
|
Utilities |
$250 |
Monthly |
$250 |
Electricity, water, gas |
|
Groceries |
$300 |
Monthly |
$300 |
Food and household items |
|
Transportation |
$200 |
Monthly |
$200 |
Public transit pass |
|
Insurance |
$150 |
Monthly |
$150 |
Health insurance |
|
Entertainment |
$100 |
Monthly |
$100 |
Dining out, movies |
|
Savings |
$500 |
Monthly |
$500 |
Emergency fund |
|
Other Expenses |
$100 |
Monthly |
$100 |
Miscellaneous |
Savings Goals
|
Goal Description |
Target Amount |
Amount Saved |
Remaining Amount |
Target Date |
|---|---|---|---|---|
|
Emergency Fund |
$6,000 |
$1,500 |
$4,500 |
June 01, 2050 |
|
Vacation |
$3,000 |
$1,000 |
$2,000 |
December 15, 2050 |
|
New Car |
$20,000 |
$5,000 |
$15,000 |
August 20, 2050 |
Budget Summary
|
Total Income |
Total Expenses |
Total Savings |
Net Income |
Notes |
|---|---|---|---|---|
|
$5,150 |
$2,600 |
$500 |
$2,050 |
Surplus for additional savings or investments |
Conclusion
Regularly reviewing your budget helps ensure you stay on track with your financial goals. Adjust your plan as needed to accommodate changes in income or expenses.
