Making a Budget

A budget is a plan that shows you how you can spend your money every month. Making a budget can help you make sure you do not run out of money each month. A budget also will help you save money for your goals or for emergencies.

Download Make A Budget Template (Word)   |    Download Make A Budget Template (PDF)

How do I make a budget?

  • Write down your expenses are what you spend money on. Expenses include:


  • bills that are the same each month, like rent
  • bills that might change each month, like utilities
  • bills you pay once or twice a year, like car insurance

Other expenses, like:

  • food
  • gas
  • entertainment
  • clothes
  • school supplies
  • money for family
  • unplanned expenses, like car repairs or medical bills
  • credit card bills

You might have bills that change every month. Look at what you paid for the same month last year. You might need $200 for your gas bill in January, but $30 in July.

  • Write down how much money you make. This includes your paychecks and any other money you get, like child support.
  • Subtract your expenses from how much money you make. If you are spending more money than you make, look at your budget to see what you do not need or what you could spend less on.

How do I use my budget?

You can use your budget every month:

  • At the beginning of the month, make a plan for how you will spend your money the entire month.
  • Write it down.
  • At the end of the month, see if you spent what you said you would and where you should make adjustments.
  • Use that information to help you plan the next month’s budget.

Download Make A Budget Template (Word)   |    Download Make A Budget Template (PDF)

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