I know there are all these complicated budgets, just want to make it simple.
You can make:
- An annual budget
- Monthly budget
- Weekly budget
- Daily budget
Annual budget
This budget covers the whole year on monthly basis.
It will include expenses which are not in the norm of your expenses which will be expected to incur for example study or tuition fees which is paid after every three months.
This really helps in planning your money in advance so that you are not caught unaware.
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Income | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Total | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Expenses | ||||||||||||
Rent/mortgage | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Tuition fees | xxx | xxx | xxx | xxx | ||||||||
Postal rental | xxx | |||||||||||
Water | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Electricity | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Others | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
Total | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
INCOME minus EXPENSE | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx | xxx |
The monthly budget we already covered is also similar to the weekly and daily budget,
The other budget you can look at is a household budget.
When making this budget every member of the house is budgeted for according to their particular needs in that month.
Household budget
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