A simple monthly budget planner is made by devoting a specific amount of money for fixed expenses, making a plan for the next month's expenses and income, figuring out ways to spend less, and finding ways to increase income. It's also good to keep track of daily spending.
Short- and long-term financial goals are included with a monthly budget planner. Examples of short-term financial goals include paying off a small debt, saving up money for the down payment on a new car and putting money in a savings account. Examples of long-term financial goals include saving money for retirement, building a college fund and saving money for a house.
A person needs to figure out how much money he makes every month after taxes when creating a monthly budget. Take-home pay is divided between fixed expenses, such as rent and health insurance, and variable expenses, such as groceries and gas. A monthly budget is further broken down into different categories such as savings, essentials and nonessentials. Essentials include necessary items, while nonessentials aren't required for an individual's daily well-being.
After a budget is drawn up, it should be compared with monthly spending to make sure the person is staying on track. A budget and spending habits are easily adjusted to fit the person's lifestyle and financial goals.