Instructions:
1) Enter your after-tax monthly salary in cells B15:C15. {You can find this info on your pay stub}
2) Enter any other income you would like included on your budget. We recommended including only income that consistent and expected.
3) Enter your estimated expenses in cells B23:C35. Leave any unused rows blank.
4) Enter any monthly contributions you make to investments in cells B42:C44. This could be retirement savings or brokerage accounts.
5) Enter any bonus income you are expecting in cells G16:H16.
6) Enter any one-time expenses in cells G18:H23
The Big Picture:
The Master Budget Tool is your blueprint for figuring out your monthly income and expenses. Try to stay on track as much as possible but it will never be exact. The tool is just as much educational as it is practical because it helps you become aware of how you are spending your money and your minimum cost of living.
The Key Takeaway:
As an entrepreneur or small business owner, it's important to have an understanding of what your "minimum" required budget looks like. It shows you what you need to live on so you can make decisions about how much money to pay yourself or how much to have in your emergency savings.