• Start Here
  • Work With Me
  • Parenting
  • Kids Activities
  • Working Moms
  • Productivity Tips
  • Number of items in cart: 0

    • Your cart is empty.
    • Total: $0.00
    • Checkout

Fab Working Mom Life

A Working Mom Blog: Let's thrive as working moms.

  • Blog
  • Motherhood
    • Breastfeeding
    • Parenting
    • Pregnancy
    • Kids Activities
    • Working Mom
  • Lifestyle
    • Finances
    • Food
    • Health
    • Home Life
    • Military
    • Organize
  • Resources
    • Blogging Resources
    • Working Mom Life Resources
  • About
    • About Julie
    • Disclosure Policy
    • Privacy Policy
    • Terms and Conditions
    • Subscribe
  • Work With Me
    • Advertise Here or Hire Me
    • Guest Post Here
    • Link and Image Policy
    • As Seen On
  • Freebies
    • Affirmations for Working Moms
    • Monthly Budget
    • Nanny Interview Questions Checklist
    • Start a Blog? email course
    • Printables
  • Shop
    • Budget Workbook Planner
    • Nanny Contract Template
    • My Zazzle Store
    • My Amazon Store

Note: posts contain affiliate links, earning me a commission. By using this site, you agree to our use of browser cookies. Read our disclosure and privacy policies for more details.

How to Make a Monthly Budget Like a Boss (with Printable)

February 6, 2017 by Julie 2 Comments

If you're new here, you may want to subscribe and join the tribe. Thanks for visiting!

The more you make, the less you seem to keep. Do you have this problem, too? Why is money so hard to hold onto? It certainly requires being organized, planning ahead, and having a good budget in place. But do you know how to make a monthly budget that works?

 

Learn to Budget Like a Boss and Grab Your Monthly Budget Workbook #money #budget #organize | Fab Working Mom Life | be an organized mom, take care of family finances, get an organized budget now with this amazing free workbook and great tips!

Learn to make a monthly budget that works!

Many of us make an attempt at a budget, but then unexpected things creep up or holidays and birthdays happen, and our good intentions go out the window. There’s always something that is getting our attention and wanting us to buy it, take it home, and live with us. We live in a world surrounded by commercials, and it is no surprise that we are also a world struggling with personal finances.

But baby steps. Yes, it takes willpower to be strict with a budget, but creating a budget in the first place is a vital step. When you create a budget for the first time (or even if it has been a while since you revisited your budget), it really opens your eyes to where your money has been going and motivates you to perhaps make a few changes or course corrections here and there. So let’s dive in and take the first step on a journey to financial awareness with setting up a budget.


Do you know how to make a monthly budget that works? Learn to Budget Like a Boss and Grab Your Monthly Budget Workbook #money #budget #organize | Fab Working Mom Life | be an organized mom, take care of family finances, get an organized budget now with this amazing free workbook and great tips!

Grab your Budget Workbook Now!

Join my email list and we will send you this Monthly Budget Workbook right away!

Success! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

How to Make a Budget for One Month

I like to start on a scale that is easier to maintain, so I like to think of my budget as a monthly bucket. I fill it up with income and pour out expenses. And see what I’m left with at the end of the month.

What is the first step in making a budget? Look at your Income Sources

The income section is a vital piece in the budgeting equation, as it is important to know the amount of money we are working with each month. Reviewing all our income streams is a happy step, too, since this is where we collect the rewards of our hard work.

As a full-time employee, I have a bi-weekly paycheck. This step is easy because I know exactly how much I bring home after all the tax deductions as well as health insurance deductions simply by looking at my paycheck stub.  Note: just going by hourly wages is not going to give us the exact amount unless your work isn’t withholding anything for your taxes or insurance. If you have a regular paycheck that is the same each pay period, include one month’s worth of paychecks for yourself, your spouse, and anyone else contributing to the household.

Recommended Post:  How To Feel Less Mom Guilt When Work From Home During the Pandemic: 4 Things You Can Do Right Now

This step gets a bit more complicated for those of us self-employed, freelancing, etc. I would consider my blogging income in this category, and this is why I track all blogging income and expenses so carefully. Consider whether you have a steady income or if it varies – chances are it may vary quite a bit if you are not working regular hours or are working on a project basis for clients or brands. In this case, it is a good idea to review income over at least 90 days or longer and calculate an average monthly self-employment salary for yourself. If you want to be extra conservative in your budget planning, you may wish to go with the lowest salary month as your estimated salary.

Consider any income sources:

  • Paychecks from your salary or hourly job(s)
  • Earnings from client work
  • Blogging and Social Media income
  • Freelance writing income
  • Survey payouts
  • Refund apps
  • Babysitting cash
  • Stocks sold

Those are some examples, did I miss anything? Consider those items that occur regularly and have a steady payout to calculate your baseline income.


Learn to Budget Like a Boss and Grab Your Monthly Budget Workbook #money #budget #organize | Fab Working Mom Life | be an organized mom, take care of family finances, get an organized budget now with this amazing free workbook and great tips!

learn to make a monthly budget - get the free printable

 

Making a Personal Budget, next step – look at Recurring Expenses

The expenses part is less fun to calculate, and I find this aspect of creating a monthly budget challenging. This is where we take a look at where our money goes each month, and get a little sad at how much we actually spend. Just me, then?

I like to start this section with the most obvious culprits – the regular monthly expenses that don’t change:

  • Rent or Mortgage
  • Student Loan(s)
  • Car loan(s)
  • Child Care
  • Other Debt payment

 

Then I look at the “bills” that we get each month. Sometimes these may vary depending on the season:

  • Heating
  • Electric
  • Cable/Internet/home phone
  • Wireless/mobile phone
  • Water
  • Trash

 

Then we move on to things that aren’t exactly bills, but are monthly expenditures as well:

  • Gas/Diesel fuel for your vehicles
  • Tolls
  • Lawn care
  • Groceries

 

This section is not as easy to predict, and I would suggest maybe looking at the last 90 days of receipts, credit card statements, etc. What are your typical expenditures in these categories?

Learn to Set up a Monthly Budget Like a Boss and Grab Your Monthly Budget Workbook | Fab Working Mom Life #budget #familyfinance #finances #organize #workingmom #familybudget

Making a budget includes reviewing your Other Expenses

While you’re looking at your credit card statements, what else are you spending money on? Clothing? Gifts? Eating out? Auto care? Let’s put those in a variable list. These are also very important when creating a monthly budget.

Expenses that may not be monthly, but still need to be evaluated when creating a monthly budget:

  • Insurance (auto, home, flood)
  • Auto maintenance (oil changes, new tires, etc.)
  • Household maintenance
  • Seasonal clothing purchases
  • Gifts
  • Medical insurance (if not deducted from pay) and life insurance
  • Medical expenses (doctor’s copays, prescriptions, pet care)
  • Entertainment/dining out
  • Property taxes

This section is where you will need to dig deep, maybe into your memory but preferably your receipts. I have the hardest time in this section, and I’m sure I’m not the only one. I am always forgetting some expense or underestimating how much something will actually cost, and get hit with surprises.

To get an initial budget in place, brainstorming the most common seasonal expenses is a great place to start and build from there. It is important to revisit this section often as new expenses come up or you remember something that was left out.

Recommended Post:  31+ Side Hustle Ideas to earn Money from Home and Pay Down Debt

 

How to Make a Budget Worksheet – your summary of Income and Expenses

When you’re done figuring out your monthly income and subtract out your average expenses, you can then see what is remaining and going into savings. For me, this is where the trouble comes in. Often I realize there isn’t much going into savings, or I even see a negative amount! That’s where we start tweaking the expenses line items and see where we can reduce or cut out spending. This is the part where you create a monthly budget that you can stick to.

While painful, going through and realizing what you are actually spending on is very eye-opening. Writing it all out helps identify some surprises, and then we can take action and be accountable for the changes we plan to make. It starts with a budget plan, and the process of carrying out the budget plan is an ongoing and often changing endeavor.

 

Learn to Budget Like a Boss and Grab Your Monthly Budget Workbook #money #budget #organize | Fab Working Mom Life | be an organized mom, take care of family finances, get an organized budget now with this amazing free workbook and great tips!

monthly budget free printable template

Grab your Budget Workbook Now!

Join my email list and we will send you this Monthly Budget Workbook right away!

Success! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

How to make a monthly budget in Excel?

The worksheet I’m providing for you free is in PDF. Are you interested in an Excel version monthly budget calculator?

Here you go:

$2.00 – Purchase Checkout Added to cart

But wait! I expanded the Excel budget workbook to include an income and expenses tracker for the entire year. I’m now offering a budget and expenses calculator workbook to help a fellow working mom out. This workbook contains the budget planner, monthly and annual tracker, as well as goodies like a savings tracker, a debt payment tracker, net worth calculator, and more!

Grab your Yearly Budget Workbook Planner today

$10.00 – Grab the Yearly Budget Workbook Planner Checkout Added to cart

 

Over to you – how do you make your monthly budgets?


 

This post is part of the 31 Tips for Working Moms series. See the rest of the posts here:

Join the Working Mom Tribe

Join the Working Mom Tribe and get support and tools to help you thrive! Tribe members get access to my library of resources and printables.

Thank you for joining the tribe! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

Categories: Finances, Organize, TopPosts, Working Mom Tags: reader freebie, working mom organization tips

the PAST
the FUTURE

Join the Working Mom Tribe

Join the Working Mom Tribe and get support and tools to help you thrive! Tribe members get access to my library of resources and printables.

Thank you for joining the tribe! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

Comments

  1. Haley Bradley says

    February 20, 2017 at 4:22 pm

    Thanks for sharing how you set up your monthly budget. I am now self employed and have struggled with how your income changes week to week. I miss that steady regular check.

    Reply
    • Julie says

      February 20, 2017 at 4:59 pm

      Oh yea that unpredictability can be quite stressful.

      Reply

Comments are held for moderation. Links are no follow.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments are held for moderation.

About Julie

Julie of Fab Working Mom Life Welcome! My name is Julie :) I am a Texan living in Hawaii (military life). I'm a mom, a blogger, and also work full-time in environmental compliance. I write about being a working mom to help myself and other working moms in our journey to find a balance between our family, responsibilities, and hobbies. I do this because we moms need a support network to thrive both at home and at work.

Follow us

  • email
  • instagram
  • pinterest
  • facebook
  • twitter
  • linkedin
  • youtube
  • bloglovin

Note: posts contain affiliate links, earning me a small commission at no additional charge to you. This site uses browser cookies to store information on your computer: some are essential to make this site work, others improve your user experience, and track behavior and user patterns (for advertising purposes). By using this site, you agree to our use of cookies. Read our disclosure and privacy policies for more details.

Join the Tribe!

Grab these Affirmations for Working Moms when you Join the Working Mom Tribe!

Join the Working Mom Tribe

Join the Working Mom Tribe and get support and tools to help you thrive! Tribe members get access to my library of resources and printables.

Thank you for joining the tribe! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

Pin with me!


Follow my Pinterest blog board

Most Popular

Lactation Oatmeal Recipe

Lactation Oatmeal Recipe: How to make Overnight Oatmeal with Lactation Goodness

How to Stop Toddler Whining: The ULTIMATE Guide to Your Sanity

How to Stop Whining, a Guide for Moms

full time working mom life hacks

How to streamline busy life as a working mom with these time-saving tips

Featured Posts

  • Why Working Moms need a Home Command Center
  • 25 New Year's Resolutions That Will Bring You More Joy
  • Smart Ways to Save Your Money This Year as a Family
  • Tips for Dealing with Grief During the Holidays
  • How to Prepare for your Child Losing First Tooth
Christmas gifts guide

Fab Working Mom Life Hot Topics

productivity tips for working moms
5-things-you-need-to-know-to-breastfeed-baby-sliderthings-to-do-to-prepare-for-baby-for-first-time-moms-slider

Link to Fab Working Mom Life

Membership


Memberships page.

Join the Working Mom Tribe

Join the Working Mom Tribe and get support and tools to help you thrive! Tribe members get access to my library of resources and printables.

Thank you for joining the tribe! Now check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit
  • Start Here
  • Work With Me
  • Guest Post Here
  • Disclosure Policy
  • Privacy Policy
  • Link and Image Policy

Note: Posts contain affiliate links. Should you choose to purchase a product, I will receive a small commission for the sale at no additional cost to you. Fab Working Mom Life is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com and affiliated sites.

Protected by Copyscape DMCA.com Protection Status

Copyright © 2021 · Fab Working Mom Life· Hello You Designs

Copyright © 2021 · Sweets Blog on Genesis Framework · WordPress · Log in

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

SAVE & ACCEPT