Managing your budget is something that you need to do specially to fulfill your daily needs. Creating a weekly budget can be a good solution if you don’t feel like creating a monthly one. A weekly budget will be able to help you organize and manage your finance so that you don’t overspend. By using a weekly budget, you will also be more organized and have more discipline in managing your finance. If you need to save up because you want to purchase something, doing the budgeting can be helpful as well as you will be able to manage how you are going to spend your income, etc.
Creating your weekly budget can be done easily with the templates that are available in Microsoft Excel. You don’t even have to pay for it. All you must do is to choose the template that is suitable for you, edit it, and print it out. You will be able to customize, modify, and edit it to suit your needs as well. Without having a clearer picture of how you are going to spend your income, you might overspend. A weekly budget will be able to help you manage your finance throughout that week so that your financial condition can be monitored nicely too. Here are some tips and tricks in creating a new weekly budget that might be able to help you fix your financial situation.
The first thing you need to do is to include your income in the weekly budget. You need to be aware of the money that comes in from your salary how much you can spend or how much you want to save for that week. Other than the income from your primary salary, you can also include other income if you have other side jobs as well. If you don’t get the other income from your side jobs regularly, you don’t have to include them in the weekly budget. The weekly budget income should come from a stable source where you get them weekly. After that, you should write down all your expenses in detail. You can use the previous month’s bank statements or credit card statements to figure out and estimate the expense that you are going to have for that week.
You need to make sure that you write down all the numbers. This way, you will be able to estimate your expense. Even if the numbers for your expense are bigger than your income, it can be a good solution that you are creating the weekly budget. It is to avoid this kind of situation to happen again in the future. After you have paid all your expenses, you need to write down the budget that you still have. This way, you can figure out how much you can save on that week or if there are sudden expenses that you might not be able to predict before.
Once your weekly budget is done, you can then adjust your expenses to suit the income that you get. If you find out that your expense might be bigger than your income, maybe you need to cut some of your expenses to suit your income better. Many people choose to use a credit card or borrow loans to cover the rest of their expenses. Just to keep in mind that as long as you can pay off your debts, then it can still be manageable, but if not, you should refrain from borrowing money in the first place.