To set up a free budget planner, organize all financial transactions, find a free financial planner website, and then enter all financial transactions into the free software. Budgets can vary from actual results, and a variance analysis should be performed periodically.Continue Reading
Personal and professional budgets have different components. Determine your budget type, and then consider all relevant transactions. For personal budgets, these transactions include expected income and expenses. Professional budgets include more complex items such as revenues, cost of goods sold and cash flow.
While you can construct a basic budget in Microsoft Excel, websites such as Money Help and Mint offer free financial planning software. These software products include built-in calculators to assist with financial budgeting. Choose a software product, and then complete the budget setup wizard to create your template.
Ensure that all financial transactions have a detailed description and a corresponding amount. Budget planning software also includes a frequency option that automatically populates budget data based on the time frame selected. For instance, rent payments can be set to a frequency of monthly, thus eliminating the need to enter this data each period manually. Review all budget items for accuracy, and then generate the budget planner. Perform a budget variance analysis when actual results are available.