A simple budget worksheet can be made with three areas of information, which are income, expenses and a comparison of these amounts, according to U.S. News & World Report. This information can be obtained by listing income sources, gathering bills and noting discretionary spending, then finally comparing the overall sums.
There are a variety templates available for individuals to use, including those downloadable from The Huffington Post. In addition, sample templates are available through financial institutions such as Bank of America, which provides a budgeting template for downloading from their website.
Another option is online budgeting software, with a number of them being free of charge for basic access. Services such as Intuit Mint Bills or Budget Simple can also provide additional information on financial topics such as lowering spending or saving more money.
In addition to a basic budget, Bank of America suggests setting prioritized financial goals and watching spending in order to reach goals such as retirement savings, funding a child's education, or even planning a family vacation. The company also suggests a monthly review of the budget and actual spending, to make sure these goals are on track and to make adjustments to spending if there is a need to do so.