When I was younger, I knew it was important to budget, but I had no idea how to do it! So I just tried not to spend money frivolously. It was ok, but definitely not the best way to do it. When I got married to Alan, we knew we wanted to have a budget. His brother shared a spreadsheet with us and we’ve been using it for a year and a half now! We love it and I check our finances every week to make sure we’re on track. It helps us see where we spent too much and keep track of our impulsive buying…another thing to add onto our impulsive list. I usually do the spending and finances, so I just let Alan know how we’re doing and we talk about how each month went.
Another great thing about this spreadsheet and how we learned to spend our money, is that we DO NOT touch the income we make this month until next month. So the money Alan makes this month (since I’m a stay at home mom) is our budget for next month. That way we won’t run out of money and can plan how much we can spend because we already know how much we made. Now someday when Alan isn’t in school and has a job making real money, hopefully we can save more each month, but right now we pretty much have to spend all of it. Which I’m sure a lot of you are or have been in that same boat. Such is the life of the starving college student and his family.
Now we have to give credit where credit is due. This spreadsheet was created by Dr. Israelson, a finance professor at BYU. I’m sure he’d love you to use it as he gives it to his students. And we hope you use it too! Try it out! See if it make a difference!
I published it here
All you have to do is click on the link and it should open up as a document on your computer.
Change our names to your own of course and make any other changes you need. We’ve added more as time has gone on like netflix payments, newspaper payments, a baby fund, etc. This is just the basic one. Good luck! If you have any questions, please comment and I’ll get back to you!