Page 18 - Book3E

Economics is extremely useful as a form of employment for economists.
—John Kenneth Galbraith
10
Because everyone’s expenses differ, there are two copies of each form. One is a sample form with expense categories listed so you can see the kinds of things you might include. The second is a blank copy so you can list your own categories. Once you have listed the categories on the blank form, make copies of the form before you fill in any amounts so that you can have a form for each month. If you would like to enlarge the forms, you can copy them at 150% onto 8 1/2" by 11" sheets of paper. The forms include:
Monthly Tracking Form: It’s a good idea to use this form every month for the first year of your budget. In addition to helping you learn to control your spending, it will help you track any unexpected expenses and any periodic expenses you have not included in your monthly budget.
Monthly Budget Summary: This form allows you to record what you budgeted, and what you actually spent. It also tracks your fixed and periodic expenses (see Volume 2, pages 12-18). Fixed expenses are paid every month and periodic expenses are paid only at certain months during the year but need to be saved for on a monthly basis. By
including them in your monthly budget, you will be prepared to pay them when the time comes.
This form also has a column for recording the difference between what you budgeted and what you actually spent. If you spent more than you budgeted, put the amount in the negative column. If you spent less
than you budgeted, put the amount in the positive column. Review this column each month to see if it is possible to reduce the negative differences month by month and adjust your budget accordingly. Total all the amounts in your negative column. Total all the amounts in your positive column. If the total of your positive amounts is greater than the total of your negative amounts, put the difference in savings.
Measuring Your Current Progress