To make a personal budget worksheet, draw a table on a sheet of paper or create one with a computer program, and list income streams, such as wages and investment income, and debts or expenses, such as mortgage payments. Divide various expenses by category, such as transportation or pets.
The personal budget worksheet should have four columns: category, budgeted monthly amount, actual monthly amount and difference. Some expenses do not neatly fall into monthly accounting; use calculations to make them fit accordingly. For instance, insurance billed every six months should be divided by 6. Money needs to be set aside and held until the time to pay the non-monthly expenses arrives.
The worksheet should have an "income" row, with sub-rows for every category of income. Worksheets should also have rows for taxes and expenses. They should be as detailed as possible; even expenses for matters like home repairs should be accounted for. The "utilities" category should include separate rows for each utility bill, and the "food" category should have separate rows for grocery-store shopping and meals out. Other categories include insurance, health and medical, debt payments, entertainment and recreation, investments and savings, and miscellaneous items, such as charitable contributions, toiletries and expenses for grooming.
Each category should have a subtotal, and consumers should use their budgets to identify categories in which to save money.