Free Budget Worksheets

Budgeting Your Debt Away
(scroll down for free printable budget worksheets)

Setting up a budget that you can live with and following it is essential to pay off debt.
Keep a close account of all money spent. That includes all your spending, whether
by check, cash or credit card. Once you know where your money is going, then, and
only then, can you take the steps needed to prepare a good budget and make strides
to budgeting your debt away.

One of the first things you have to do before any debt can be eliminated is to
stop using charge accounts.
If you continue to use these accounts, you are only continuing the problem, and
building on it, not solving it. So, make a resolution now to stop charging and get
financially stable. If you can't pay cash for it, you don't need it!
Make this a simple rule and you will find yourself out of debt in no time at all.

Comb through your budget and cut out the waste. This is essential to getting your
financial life back on track. Some of those things you thought you couldn't live without
are draining your money, and may only be conveniences you don't really need.
You have to be ruthless in deciding what stays in your budget and what gets
eliminated. The time and effort you spend here, will determine the success or failure
of your money saving endeavors.

Next, determine how much extra money you can spare and apply to your bills on a
monthly basis. Make it a habit to set aside money for savings and rainy days from
every payday and stick to it. Use this money for emergencies and special things for
your family. This will help keep those credit cards in your wallet and out of the cashier's
hands.

Now you are ready to apply the extra money to the higher interest accounts.
Once these are reduced or gone, start applying the extra money to the next highest
interest accounts.
The key here is to apply extra funds to a high interest or balance account until it is
paid off. Don't try to spread the extra money to payments on several bills at the
same time. You will see your debt reducing quickly and it will help you to stay
focused on debt reduction and living within your budget.

Victoria Egnatova
Senior Financial Consultant
 

 Free Printable Budget Worksheets

Personal Budget Worksheet This form you can print out and use to determine what you have been spending over the last 6 months or year. You can then use the same form to prepare a new budget with new goals and targets shown in each spending category.

Financial Goals Worksheet This form is for goal setting covering Short, Medium and Long term financial goals

Income Worksheet This form helps determine all income sources and calculates debt income ratio.

Debt Worksheet This form determines all debts, both secure and unsecured.

Asset Worksheet This form lists all assets that can be used for debt relief.

Weekly Expense Record This form can be used to keep track of what you are spending and compare it with your master budget plan. Each person covered under your budget can keep a form for each week and turn it in to be compared with the master budget plan for the family. Print several of these so everyone will have enough of them.

Free Online Budgeting System Mvelopes Personal is a revolutionary online personal budgeting system that allows you to easily mange your finances and control your spending. The Mvelopes system will automatically retrieve your transactions from your bank, credit union, or credit card company to make it easy. Mvelopes Personal appeals to a very broad audience because everyone wants to mange their money better.