Build a budget

Part 2: Download this template from Powercat Financial: Spending Plan Rev. 2019.xls. Use this template to create a budget for yourself for next month. All budget information submitted will be confidential and only viewed by myself and our course TAs. Powercat Financial offers steps of how to do this below.

  1. First you will estimate what you believe your income and expenses are for a monthly period. You will also identify whether the expense is a need or a want.
  2. Second you will record your actual income and expenses as determined from your financial records for a monthly period again identifying them as needs or wants. By estimating first, then recording actuals second, you will get a good feel for how in tune you are with your spending habits.
  3. The final step is to determine any adjustments that need to be made and to create the spending plan for next month.