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Monthly Budget Tracker – Free Spreadsheet Download

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By
Scott
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Scott Nelson

Managing Director

MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.

Learn more about Scott
&
Janine
Janine Marsh Profile Picture

Janine Marsh

Financial Expert

Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.

Learn more about Janine
· Feb 6th, 2024
Could you legally write off some debt? Answer below to get started.

Total amount of debt?

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

Featured in...
Monthly Budget Tracker

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

Are you searching for a way to manage your money better? If so, you’re in the right place. Our Monthly Budget Tracker is a free spreadsheet designed to help you.

Each month, over 170,000 people visit our website seeking advice on money matters. You’re not alone in this journey.

We understand how hard it can be to handle debt and keep your finances in check. That’s why in this article, we’re going to show you:

  •  How to save more with the 50/30/20 rule
  •  Ways you might be able to lower your debt
  •  How to put together a monthly budget
  •  Common mistakes to avoid in budgeting
  •  How to tackle debt that is too much to handle

Our team knows what it’s like to feel stressed about money. That’s why we’ve created our Monthly Budget Spreadsheet to assist you. 

So, take a deep breath, and let’s start your journey to better money management.

Could you legally write off some debt?

There are several debt solutions in the UK, choosing the right one for you could write off some of your unaffordable debt, but the wrong one may be expensive and drawn out.

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

Save More with the 50/30/20 Rule

Some people use a monthly budget tool to stick to the 50/30/20 rule. This is a spending theory made famous by an American politician called Elizabeth Warren. She stated that everyone should spend 50% of their income on necessities, 30% on things you want and 20% should be saved. 

Of course, not everyone can stick to the 50/30/20 rule. If you have big debts or are financially struggling, you probably won’t be able to use this rule right now. But it is one way to analyse a monthly budget if you are using a budget just for saving purposes.  

How a debt solution could help

Some debt solutions can:

  1. Stop nasty calls from creditors
  2. Freeze interest and charges
  3. Reduce your monthly payments

A few debt solutions can even result in writing off some of your debt.

Here’s an example:


Situation

Monthly income £2,504
Monthly expenses £2,345
Total debt £32,049

Monthly debt repayments

Before £587
After £158

£429 reduction in monthly payments

If you want to learn what debt solutions are available to you, click the button below to get started.

Get Started

How Do You Write a Monthly Budget?

Creating a monthly budget is quite simple. All you need to do is write down the amount of money you receive each month. For most people, this will just be employment income. And then write down your monthly expenses, such as bills, rent, groceries and memberships. Don’t forget the smaller things people tend to forget, like haircuts or regular social occasions.

This is the most basic form of a monthly budget. You can download more detailed and informative monthly budgets for free – like the one we have made for all our readers. Read on to find out more. 

» TAKE ACTION NOW: Fill out the short debt form

The Monthly Budget Common Mistake

The biggest mistake people make when using a monthly budget is that they do not update it. They make their monthly budget, stick it on the fridge and then expect everything to stay the same throughout the months. Your expenses could change, and so could your employment income, so it is essential to regularly update your monthly budget for accurate results. 

Thousands have already tackled their debt

Every day our partners, The Debt Advice Service, help people find out whether they can lower their repayments and finally tackle or write off some of their debt.

Natasha

I’d recommend this firm to anyone struggling with debt – my mind has been put to rest, all is getting sorted.

Get started

Reviews shown are for The Debt Advice Service.

Our Monthly Budget Spreadsheet Can Help!

We have designed and created a free monthly budget tracker for all Money Nerd readers. Our free monthly budget spreadsheet is a little more sophisticated than the average monthly budget resource -without being complicated at all. 

We provide room to add your income and expenses and then use the information to create a graph automatically. This graph will show how much you have saved each month. And you can use it to spot where you can save even more money. 

Download our free monthly budget spreadsheet to start saving effectively for debt repayments and big purchases!

Could you legally write off some debt?

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

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The authors
Scott Nelson Profile Picture
Author
MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.
Janine Marsh Profile Picture
Debt Expert
Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.