Friday Financial Tidbit-Savings and Non-Monthly expenses allocation spreadsheet

Not budgeting properly for non-monthly expenses is one of the biggest budget busters that I come across when working with individuals and couples. In addition, not knowing exactly how much you have in savings for car repair, vacation, and Christmas gifts can really cause some strain when it comes time to use the funds. To help you keep track of these amounts I have created a savings and non-monthly expense spreadsheet.

It is a fairly simple spreadsheet to use. First, you create the different categories you want to keep track of. They can range from auto insurance, life insurance, to birthday gifts on the non-monthly expenses side, to vacation, car replacement, or even emergency savings on the saving side. Then, anytime you have a deposit or withdrawal from savings you record it on the spreadsheet. Not only are you recording the amount, but you are also allocating the amount among your different categories. Finally when you are ready to pay the non-monthly expense or take a chunk out of your savings you will know exactly how much you have for that particular item. How sweet is that?

So if you struggle with keeping track of your expenses and savings, consider trying out the spreadsheet. I would love to hear feedback if you use it. As a reminder you can always find other spreadsheets and documents on our free financial resources page. So now you have no excuse to not have the money necessary to pay you non-monthly expenses.

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About Jon White

Giving people hope and seeing them win with their finances is something I have a strong passion for. Because of this passion I started JW’s Financial Coaching in the summer of 2010. Financial coaching has allowed me to combine my passions of finances, teaching, and helping others by helping people get on the right track financially. I'm interested in hearing your story so please do not hesitate to interact with me through social media.
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