Monthly budget savings planner how to#

Next, you'll then need to write down your short, medium, and long-term financial goals based on your needs, wants, and dreams in life. Listing your expenses and spending, however, will require a little more work which we’ll get to next.

Your net income should be fairly easy to list only include regular sources of income that you expect to receive over time. We’ve created a simple budget template in the first tab of our Budget Planner + Expense Tracker tool, which you can download by clicking on the link below. If you're unemployed, try to save 2-3% of any income you receive. It’s recommended that you try to save 10-15% of your net income. Putting your income, expenses, and debt down in writing will help you manage your money and track your spending behaviour, so you’ll be in a better position to fulfill your financial goals.

(Read more in our blog How Much Money You Should Spend on Monthly Expenses.) Next, you need to figure out how much you spend on various items each month - including paying back your current debts - and then see how this measures up against your net income. This would be your net income, or what you earn after taxes. The first step to making a budget is determining how much money you have to spend in an average month.

Monthly budget savings planner how to#

Wondering how to budget? It’s easier than you think with our free tool.