personal financial budget


Learning how to budget your money will help you

The personal financial budget is THE source of financial freedom. Learning to budget money is the fundamental beginning of setting up your financial position for current and future prosperity. If you are one of the many who is living from paycheck to paycheck and feel like you are falling even further behind in managing your finances then this page could be that lifeline you are searching for. This can happen, life is busy. With the advancement of technology so too comes distraction. Accessibility to internet and emails, while marvelous and sometimes productive, is time consuming and distracting from other important commitments in life such as family, personal development and you guessed it, financial management. There are others who don’t fall victim to distraction but, who simply don’t have the knowledge or who want to make the effort in personal budgeting. It can seem arduous, embarrassing or daunting but, that’s where I want to show you different. With a little work it becomes easy and the result is liberating!

Personal Financial Budget: Cashflow Worksheets

How these worksheets work

By completing 4 worksheets that cover your income, spending habits, borrowing costs and insurance costs this model will estimate your annual and weekly “Savings / Investment Capacity”. From this, you will have a visual aid in determining what funds remain for life after the cost of life is deducted and use this information to plan your weekly or fortnightly budget.

personal financial budget - overview


Some provision has been made for a tax rate in the income worksheet however, this calculation output will be generalised. Personal circumstances differ and because of this taxes have been excluded from other areas of the worksheet. Taxes are an important factor and should be considered in your final evaluation, particularly with regard to investments.



1. Complete the Income Worksheet

There are 4 tables to enter data in. Table 1 (Work) – any work related income, Table 2 (Rent) – any rental properties you received rent income from, Table 3 (Interest) – any interest or capital gain you earn from investing and Table 4 (Other).

Enter your estimated tax rate. It’s not necessary for the purpose of this model but, in time I will provide a resource for specific information on how to work out your tax.

2. Complete the Spending Worksheet

There are 3 tables to enter data in. Table 1 (Major Expenses) – any recurring expenses over $500 annually, Table 2 (Minor Expenses) – any recurring expenses under $500 annually, Table 3 (Non-recurring Expenses) – any value non-recurring expenses.

3. Complete the Borrowing Worksheet

There are 3 tables to enter data in. Table 1 (Personal) – any personal borrowings like mortgage or car loans, Table 2 (Investments) – any investment borrowings like a mortgage for a investment property and Table 3 (Other).

4. Complete the Insurance Worksheet

There are 3 tables to enter data in. Table 1 (Personal) – any personal insurance like home and contents or car insurance, Table 2 (Investments) – this is reserved for home and contents insurance on investment properties and Table 3 (Other).





efinancial management ebook

Please signup to the eFM subscriber list if you would like to download the eFM ebook. Coming soon, this ebook will provide you with the step by step process to do-it-yourself financial planning.