Managing finances is a crucial aspect of our daily lives and plays a vital role in building a prosperous future. However, many people struggle to grasp this important skill. Tracking income, expenses, savings, and debts allows us to make careful decisions for the future, enabling us to achieve our goals more efficiently. Budgeting templates are the easiest way to easily achieve this goal by providing customizable budgeting template PDFs. These premade templates can simplify the tedious process of creating a spreadsheet from scratch and also saves you from the hassle of calculations as well. Start taking control of your finances and achieve your goals with ease!
WPS Office:
WPS Office offers a plethora of templates in a wide variety, including budgeting templates. Whether it’s for personal use or business their website provides a comprehensive collection of budgeting templates that caters to the needs of all.
Pros:
The templates are easy to use
All the templates are customizable
There are a huge number of templates
All the templates are also available of WPS-PC based application
Cons:
The only downside is that there is a limited number of free templates available
OnPlanner.com:
OnPlanner.com provides printable templates for a range of purposes. To suit everyone’s preferences, this website offers a complete range of budgeting template PDF printables.
Pros:
Downloadable PDF templates
Visually appealing for journaling
Complete range of templates
Cons:
The number of free downloads is limited
Requires payment to download further templates
Canva:
Canva is predominantly used as a graphic design platform, but it offers budgeting templates as well. Canva provides a wide range of creative elements to further personalize your template as per your needs. You can also use the graphics tools to embellish your personalized template for a creative touch.
Pros:
Easy-to-use interface
Customizable templates
Creative
Cons:
Limited features on the free version
Subscription is required for premium elements
Pinterest:
Pinterest is not a dedicated website for templates; instead it’s a visual discovery engine to find ideas and inspirations. But it offers a variety of templates including budgeting templates primarily shared by users.
Pros:
Various designs and formats are available
Excellent source of inspiration
Cons:
It’s not a professional template website
May require rigorous searching to find something that caters to your needs
Login or account creation is required
101 Planners:
As the name suggests, 101 Planners is a website providing a wide collection of planner templates, including budget template PDFs. Their budgeting templates are designed to help you track expenses, savings, and income effectively.
Pros:
Vast number of templates available
Cons:
The web page contains ads that might be distracting to users
What is the easiest budgeting method?
The 50/30/20 budgeting method is straightforward and requires less work than the zero-based and envelope budgets. This method breakdowns your income into three main categories:
Absolute necessary expenses which mark up to 50%
Discretionary expenses that take up to 30%
Savings and debt reduction taking 20% off of your entire income
This method is easy to follow as long as you know your priorities. The only downside is that it might be unrealistic for people who are heavy in debt or have huge saving goals as 20% is not much in that sense. But you can use the method of tailoring the concept as per your need such as cutting down on your discretionary expenses to increase saving percentages.
50% of your income for your absolute needs:
Half of your income goes into your needs. These are the must-haves of your needs including utility bills, groceries, healthcare, and insurance payments. You can also add minimum payments of credit card and loan payments in this category as well.
30% of your income for you and your family’s wants:
This portion goes to things you want in your life by choice. You can live without these but you chose to have them to increase the livelihood in your life. These may include streaming subscriptions, hobbies, gifts, outings, vacations, etc.
20% of your income for savings and debt reduction:
You also need to focus on your future goals to accomplish your dreams, which is why the remaining 20% goes for savings. It may be a small amount compared to other portions but it’ll be a great resource for long-term goals. You may use this portion for down payments on the mortgage, emergency fund deposits, and reducing personal debts that go beyond the minimum amount also goes into this category.
FAQs
Q1: What is the 50/30/20 budget rule?
This rule suggests the division of the total of your income into three basic categories by putting 50% of your income into your necessary expenses such as bills and groceries, 30% goes into your wants which may include outings and gifts, and 20% goes into your savings for future goals or you may use it to reduce your credit card or personal debts and return loans.
Q2: How to create a budget spreadsheet?
You can create a budget sheet in 5 simple steps:
Choose a budget template that suits your needs and requirements
Create categories for income and expenses and add subcategories in it for easy access
Decide what budget period suits best your requirements
Enter income and expenses and use simple formulas for calculations
Add charts and graphs for visual representation
Q3: Is there a budget template in Word?
Yes, there are many templates available in Word and docx format on various websites. You can either make your template by using a blank Word file with inbuilt tables or use premade templates that you can download from websites offering them.
Take control of your Finances- Download your Budgeting template!
Budgeting templates provide a convenient solution for effective financial management, allowing individuals to track their income, expenses, and savings effortlessly. Among the available options, WPS Templates stands out with its extensive library of customizable templates and user-friendly editing tools. With WPS Templates, users can easily tailor their budgeting templates to their specific needs, ensuring efficient financial planning and goal achievement. Simplify your budgeting process and take control of your finances with WPS Templates.
