How to Budget in Just 5 Simple Steps! (Free Printable Budget)

Cover image of easy budgeting book

Stop Overspending Right Now with The Modern Mom’s EPIC Guide to Easy Budgeting!

Do you need a budget? Find out by taking the following quiz:

  1. Are you living paycheck to paycheck?
  2. Are you drowning in debt?
  3. Are you making bad purchasing decisions?
  4. Are you behind in your bills or do you get late fees on your bills?
  5. Do you wish you could save for the future, but you can’t?
  6. Are you afraid of the next big financial emergency because you don’t have any savings?
  7. Do you need help organizing your finances?
  8. Do you want to budget, but you don’t know where to start?
  9. Do you wish you could stick to a budget you have made?
  10. Do you feel like your finances are out of control?

If you answered yes to any of the above questions then you need a budget! Budgeting doesn’t have to be a pain.  It can be easy and you don’t need a degree in finance to figure it out. Anyone can do it! Find out how…

First, download the free eBook: The Modern Mom’s EPIC Guide to Easy Budgeting. It’s epic because it shows you just how easy budgeting can be. Sign up below to get the free download. Then follow the 5 simple steps below.

Easy Budgeting Takes Just 5 Simple Steps

Step 1. Find Out How Much You Spent Last Month

Worksheet image

For this step, you can use the worksheet from your download called, “How Much Did I Spend Last Month?” All you need is your bank statements and credit card statements from last month.  Then use the info on the statements to fill out the worksheet. If you have quarterly or monthly expenses that didn’t show up, divide them into monthly amounts and add them to the worksheet. Now you can see exactly what you spend. It can be eye-opening to see the actual totals for each category. So easy!

Step 2. Evaluate Your Current Situation

Using the same worksheet, list the monthly total of all your regular and irregular income at the top. (Use Appendix A in the packet if you need help calculating your monthly income. Or click on this post.) Now minus your total expenses from your total income. If your total is negative, you spent more than you earned and that means you either used up savings or added to your debt. If your total was zero or positive, but you have no money to put into savings, you still have a problem. You can fix these problems with the remaining 3 steps.

Step 3. Set a goal

Setting a goal is the most important step when making changes in your life. Under ideal circumstances, a person should be able to live on 80% of their income and use the other 20% to build an emergency account, give to charity, save for the future, or pay off debt. If you are not able to live on 80% of your income because your expenses are too high, then you need to cut back. If you can’t live on 100% of your income, then you definitely need to cut back your expenses! 

You’re in luck! I have created a huge list of ideas on how to reduce expenses. You can find it in your download on the page called, “87 Ideas to Reduce Expenses.” Select a few ideas from the list to try this month. Then, set a spending goal for the month. List your goal at the top of your “Monthly Budget” worksheet.

87 Ideas to Reduce Expenses

Your goal doesn’t have to be a drastic change from last month’s spending, just a little change (unless you are completely committed to a total financial overhaul). The reason for this is if you make the goal too difficult to reach then you might lose interest in budgeting and go back to old habits. If you make small improvements each month then you will gradually get things back on track.

Step 4. Make a plan

The plan that will help you reach your goal is your budget. It’s basically a roadmap for your monthly spending. You already put your spending goal at the top. List your income at the top also. Now it is time to set up the plan to achieve your goal.

Monthly Budget Printable

Divide your spending goal into categories on the “Monthly Budget” worksheet. See if you can get yourself to spend a little less in certain categories than you did the prior month. Once you have the budget filled out, put it on the fridge so you can see it regularly. At the end of the month, you will fill out the actual amounts to see how you did. That was easy right? Now you’re almost done.

Step 5. Pick a strategy that will help you stick to your budget.

  1. Use the envelope system with cash only purchases.  Then when you go to the store, you can only spend what is in the envelope.  This prevents you from overspending. See Appendix B for a cash envelope template. Cash Envelope
  2. Or try having an accountability partner.  This is where a friend or relative agrees to do the process with you and you check in with each other to make sure that you are sticking to the plan.
  3. Or sign the personal contract in Appendix C of your booklet to promise yourself you will stick to the budget.

Whatever strategy you choose, make a commitment to improving.

(The packet also includes several bonus printables to help you manage your finances.)

At the end of the month, see how you did.  Did you reach your goal? If so, congrats! Continue using this budget process each month and get yourself on the road to financial freedom.

If you didn’t reach your goal, try again. Don’t give up just because it was hard to adjust your spending. The only permanent failure is giving up. As long as you keep trying, you didn’t fail. Financial freedom is within your reach if you keep working toward it. You can do it!

Signup below to get your FREE copy of The Modern Mom’s Epic Guide to Easy Budgeting!

The Modern Mom’s EPIC Guide to Easy Budgeting: 28 Page Workbook with 87 ideas to reduce expenses, 14 beautiful worksheets, 7 bonus lessons, and full, easy-to-follow instructions.



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The Modern Mom’s EPIC Guide to Easy Budgeting! 28 Page Workbook with 87 ideas to reduce expenses, 14 beautiful worksheets, 7 bonus lessons, and full, easy-to-follow instructions. Includes top advice from a professional accountant and university instructor.

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  • Reply
    kelly light
    July 17, 2017 at 3:25 am

    great learning tips. I will definitely use some of them

  • Reply
    shannon fowler
    July 17, 2017 at 3:44 am

    This is great! I think these are some tips that could really help us out.

    • Reply
      August 29, 2017 at 10:40 am

      I hope it helps!

  • Reply
    July 17, 2017 at 1:18 pm

    This is good advice!

  • Reply
    Casey Garvey
    July 17, 2017 at 1:38 pm

    Love the charts!

  • Reply
    July 17, 2017 at 9:58 pm

    This would really help my aunt! She’d love the charts as she likes to see what’s going happening on paper!

  • Reply
    July 19, 2017 at 4:40 am

    I answered yes to most of these questions! Thanks for the tips.

  • Reply
    July 19, 2017 at 8:29 am

    Thank you for all of these amazing printables and advice. It will make budgeting and financial planning much easier! 🙂

  • Reply
    Jana S
    July 19, 2017 at 10:41 pm

    These tips will help me stay on track thank you

    • Reply
      August 29, 2017 at 10:40 am

      Thanks for visiting!

  • Reply
    Sandy Klocinski
    July 20, 2017 at 10:34 am

    Awesome tips! They could really help me out.

  • Reply
    July 24, 2017 at 2:30 pm

    great tips

  • Reply
    neil califano
    July 25, 2017 at 9:33 pm

    It is wise to create a budget and stick to it.

  • Reply
    July 31, 2017 at 7:41 am

    I’ve seen my millennial son and girlfriend complain about how it is for their generation but they also eat out almost every meal and buy beer. We never did that when we were young so we had little debt and saved. We lived on little and spent little

    • Reply
      August 29, 2017 at 10:45 am

      This is a great opportunity for the older generations to help the younger ones learn to manage their money!

  • Reply
    Nicole Watson
    August 3, 2017 at 12:08 am

    I will try some of these tips.

  • Reply
    Sandra Watts
    August 3, 2017 at 9:43 am

    Very useful tips. They should come in handy. Thanks so much.

  • Reply
    Kathy bergman
    August 4, 2017 at 2:43 pm

    Great tips. Especially the envelope tip. I tend to overspend at the store and usually on things I don’t need but want. This would help me. Thank you

    • Reply
      August 29, 2017 at 10:44 am

      Great. Let us know how it goes!

  • Reply
    Marti Tabora
    August 8, 2017 at 6:37 am

    These really are great tips and suggestions. I really like the idea of setting goals.

    • Reply
      August 29, 2017 at 10:43 am

      Goals definitely help.

  • Reply
    deion jackson
    August 8, 2017 at 1:44 pm

    That the best way to budget money

  • Reply
    Karen Propes
    August 11, 2017 at 10:52 am

    Thanks for the free e-book. These tips will go a long way in helping us keep up with our bills and getting them paid off!

    • Reply
      August 29, 2017 at 10:41 am

      Let us know about your progress in paying off your debt. Hope it goes well!

  • Reply
    Nicolette Groszek
    August 12, 2017 at 4:26 pm

    Love this!

  • Reply
    Marisa Castillo
    August 14, 2017 at 1:43 pm

    I need more of this in my life!

  • Reply
    Kelly@ Taking Back Summers
    August 16, 2017 at 10:52 pm

    Loving this e-book. It was exactly what I needed to jumpstart my budgeting. Thanks for the time you put into this!

    • Reply
      August 29, 2017 at 10:43 am

      Sure thing. It did take a bit of time, but it was worth it to help others.

  • Reply
    Margaret Sarsfield
    August 25, 2017 at 1:01 am

    you’re doing a great service. thanks so much.

    • Reply
      August 29, 2017 at 10:41 am

      No prob. I love helping others.

  • Reply
    S. Snow
    August 25, 2017 at 10:27 am

    This is awesome!! Thank you so, so much for the e-book, printables, and the amazing advice/tips. This is exactly what my hubby & I have been looking for & most definitely needing. So ready to get our finances in order & working for us!

    • Reply
      August 29, 2017 at 10:42 am

      You’re welcome! Let me know if there are other printables you are looking for and I can make them available.

  • Reply
    Crystal Walker
    August 25, 2017 at 3:33 pm

    This is just what I have been looking for, we both are on Social Sec and we are living paycheck to paycheck and maybe this will help

  • Reply
    September 8, 2017 at 1:58 pm

    Great tips! Thank you for sharing!

  • Reply
    tab etha tlili
    September 9, 2017 at 8:18 am

    i love that i can print this thanks

  • Reply
    September 26, 2017 at 3:31 pm

    i always try to stick to a plan and a budget but with so much going on i end up behind i need to be more organized

  • Reply
    September 27, 2017 at 12:32 pm

    So helpful! Thank you

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