Budgeting and Saving

Two key parts of money management to help you achieve financial success.

This Free Budget Calculator Spreadsheet Teaches You How to Budget and Get Out of Debt

By Christi Posner

Budget Calculator to Help You Learn How to Budget and Get Out of DebtAs both a Credit Counsellor and a personal budgeter, hear me when I say that this free budget calculator spreadsheet will teach you not only how to budget, but also how to get out of debt. If you’re ready to take control of your money, live within your means, build savings and become debt-free, buckle your seat belt because here we go!

This is the same personal budget I use when working with my clients and in my personal life. Let’s first talk about how to use it, and then some of the ways it will help you build a budget that works.

Create a Personal Budget That Works For You

To build a personal budget just like the pros, start by entering in your income. Next, begin typing in your monthly expenses. Remember that this is a first draft, and the idea is just to get it completed.

If you’re not sure how much to put in for a certain category such as groceries or entertainment, make an educated guess to start. Then, once the budget is completed, consider tracking your expenses going forward, or looking back on your debit and credit transactions to find an average and correct your number.

Unique Features of this Excel Budget Template Not Offered Anywhere Else

As you enter in your expenses, you will notice that the excel spreadsheet becomes interactive. Missed inputting a bill? It’ll catch that. Not sure what kind of expenses a category should include? It’ll explain.

Here are some of the features that this excel spreadsheet offers to help you build a realistic household budget:

  • Gives you tips on where to cut back to save big money
  • If you make “common budgeting mistakes” like not planning for irregular expenses such as Christmas, it will offer tips and solutions to fix them
  • It compares your figures to what other people spend so you know if you’re spending more or less than the average family of your size

On top of that, it’s easy to use, does all of the math for you, and keeps a running tally to see if you are living within your means, or way beyond them.

A Savings Calculator Is the Secret Weapon Against Debt

savings calculator is built right into the overall budget so that it’s easy to see how much money you need to set aside for annual, emergency and unexpected expenses. Expenses that you don’t expect, or which don’t occur on a monthly basis, can cause you to reach for a credit card. Then it can feel like your budget is off track as you try to get out of debt.

Using the budget calculator spreadsheet will help you identify the different types of expenses that you need to plan for, and how much to save for each. It will also help you learn how to trim your spending so that you have the money to set aside in savings for short term goals and long term plans.

How This Free Budget Calculator Spreadsheet Can Change Your Life and Teach You How to Budget

This free budget calculator spreadsheet changes lives every day by teaching people how to budget, save, and become debt-free once and for all. The goal is to get your expenses (including debt repayment and savings) to be less than, or equal to your income that you bring in every month. If you fill out your budget spreadsheet and your expenses outweigh your income, then you’re only going to go further into debt. Play around with your numbers and see what it will take to live within your means and change the rest of your life!

If You Can’t Get the Budget Calculator to Balance, Contact the Credit Counselling Society

The budget calculator is doing the simple adding and subtracting of your income and expenses, but sometimes you need the help of a non-profit organization like the Credit Counselling Society to get it to balance. By making a free appointment with a Credit Counsellor, you can have a professional look over your budget with you and help you learn how to make it a realistic, liveable plan.

Contact us by phone, email, or confidential online chat and we’d be happy to help you take this free budget calculator spreadsheet off of your computer screen, and put into action!

Additional budgeting resources:

Webinars and Workshops on Various Money Management Topics

Online Budgeting Video Course – How to Build a Budget That Works on Any Income

Expense Tracker and Personal Budgeting Workbook – 7 Steps to a Budget That Works

Creating a Spending Plan – More Budgeting Resources & Information

 

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Budgeting and saving money are key to financial health, and the sooner you start, the faster you’ll be able to reach your goals. Get started now with free and confidential help from a non-profit credit counsellor. Our counsellors can review your financial situation with you, answer any questions you have, and help guide you towards concrete solutions.

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Pay Off Debt or Save?

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