Creating a family budget is important for several reasons. It gives the family direction and a goal for future savings. It can also help families create a plan to get out of debt. The first time family members sit down together to form the budget, they may realise that they are spending too much money in one area and not enough in another. Each year as circumstances change, families can print out a new free budget worksheet and adjust their budgets accordingly.
Consumer Credit website
The website Consumer Credit contains a wealth of free information on budgeting provided by credit counselling professionals. It also provides families with a free household budget worksheet to create a financial plan. The free budget worksheet lists detailed categories that families can use to plug in their own figures. Examine the worksheet after the figures are entered to make sure the preliminary budget balances. Adjust as necessary.
Christian Personal Finance website
Christian PF, or Christian Personal Finance, is a website dedicated to all things financial. This includes helping families create budgets for free. Families can download a family budget planner in Excel, Google Docs and OpenOffice. The family budget planner offered by Christian PF has one of the most detailed worksheets available. Use last month's bill statements, income statements and shopping receipts to help input the correct figures. Families can also utilise free bill payment schedules and debt reduction spreadsheets.
Crown Financial Ministries
Crown Financial Ministries offers a simple spending calculator that families can use free to plan a budget. Families input their annual gross salary, yearly tithe and taxes. Clicking "Calculate Budget" creates a return that tells families exactly how much money should be spent in total for each category. If the total comes back as £585 in the housing category, then families should plan on separating that £585 between all housing expenses (mortgage/rent, electric, gas and insurance). This guide can be used along with a free budgeting worksheet from another source.
Spreadsheets can make budgeting much easier for a family because they can be stored on your computer. When changes need to be made, it only takes a few clicks. The website Spreadsheet 123 has family budget worksheets for users of Excel or OpenOffice. If you don't have Excel or OpenOffice, you can still print out the family household budget PDF planner. This planner has one space for your budget and another to track the actual amount you spend in a month. You can quickly see at the end of the month by comparing the two numbers if any changes need to be made to the family budget.