To make a budget plan sheet for your household, use a spreadsheet to list all of your monthly expenses and income. Compare actual expenditure with budgeted expenses to check that you and your family are meeting your targets on a monthly basis.
- Set up the worksheet
Create four columns in a spreadsheet or on a sheet of paper: Expenditures, Budget, Actual and Difference. In the first column, begin listing your expenses, classifying them by type where possible. For example, include rent or mortgage costs, utilities, maintenance savings, homeowner insurance and property taxes under "Housing."
- Determine budgeted amounts
Write the budgeted amount next to each item on your list. Answer honestly in order to get the most accurate budget; for example, do not write the cheapest electricity bill amount you receive each year in that field. Use an average, or use the most expensive bill you have received to give yourself extra leeway during the year as a whole.
- Fill in the actual amounts as they occur
Add in the actual spending that takes place under each type of expense during a month. Subtract the actual amount from the budgeted amount to check the final difference. Adjust your budget for the next month whenever the actual amounts differ significantly from the budgeted amount for reasons that are unlikely to change. An example of this is when prescription co-pays increase under a health insurance plan so a change in the budgeted amount of prescription spending each month is necessary to maintain a realistic budget.