Nowadays, one of the key reasons for getting into debt or bankruptcy is due to a lack of financial management. People often get scared of budgeting with difficult financial calculations. However, by adopting a simple budgeting rule of fifty, thirty, and twenty, you can cultivate a professional and result-oriented budget to streamline your financial life. In this method, all you must do is put aside fifty percent of your income for your needs. Such as groceries, utilities, medical, house rent, or any other expense that falls into this category.
However, you can spend thirty percent of your income on what you want, like dining with family or friends, entertainment, watching movies, or other discretionary expenses. In addition, the remaining twenty percent you can utilize for future savings and the repayment of debts. For practical implementation of this budgeting rule, our professionals have designed an editable 50/30/20 budget template. It contains a user-friendly structure with all the pivotal elements that we are going to break down here for viewers to learn the ropes.
Template Layout
This template encompasses a stunning layout showcasing the fusion of dark gray and rock blue colors in pre-designed tables and text boxes. That distinguishes this template from others. In addition, we have used a combination of different text fonts in this layout, which are Alex Brush, Bebas Neue Bold, and Calibri fonts. All these design aspects of this budget planner improve readability and consistency.
Header
In the header section of this design, you can find the eye-catching title in two editable text boxes. Which is properly aligned and gives a modern look and feel. In addition, there is also a place added for jotting down the budget month and the name of the individual who prepared this 50/30/20 budget.
Editable 50/30/20 Budget Template
File Format: MS Excel (XLSX)
File Size: 20.6 KB
Body Segment
This template displays multiple pre-made tables in this section. All these tables are further divided into two vertical parts. The left part of the template includes a budget goals table at the top. Here you can set periodic financial goals and check the boxes once achieved. Afterward, you can find a table with the title Needs 50%. In this specific table, you can list your basic expenses with estimated and actual figures. The worksheet will run calculations and bring the total amount of the budget and the actual column in the last row. Next to this, there is a want table integrated for recording non-essential costs. However, at the end of this left part, you can record the behavior of spending patterns, important reminders, or budget adjustments using the note section.
Most importantly, the right part of this template highlights the income table at the top. Using this table helps individuals track their income and develop a proper financial strategy for segregating funds using the 50, 30, and 20 rules. The following tables are added here to provide the debt and living essential details. Moreover, in the savings table, you can organize twenty percent of your remaining income to comply with your budget. The bottom space of this area is dedicated to a summary table indicating the total income, debts, bills, living expenses, and total savings for smooth sailing.
Editable Features
You will find great flexibility in this budget sheet, as you can easily update, edit, or modify its layout using Google Doc Editor. We will provide you with free access to add desired features, colors, tables, and much more that best suit your needs.
Other Advantages
Apart from highlighting the key features above, this template still has so much to offer. Firstly, it contains an easy-to-use design with clear-cut default instructions. So, if you are a professional or newbie, you can conveniently follow the instructions and prepare the 50/30/20 budget without any difficulty. Moreover, it has a pre-defined theme and structure that will prevent you from wasting money and boost your efficiency. You can use it online on your smartphone, computer, or laptop, and even as a printed budget sheet. Another crucial thing is that this resource is exclusively free, and you don’t need to go through the lengthy process of registration or sign up on the website. With a single click, you will get your desired template into the downloads folder of your computer within seconds.
Samantha Lee is a seasoned professional in document design and workflow optimization with over a decade of experience in enhancing office productivity. Holding a degree in Business Administration from the University of Michigan, she has honed her expertise in streamlining processes through innovative document management solutions. Samantha has worked with a variety of corporations, helping them implement effective templates and automated processes that save time and reduce errors.
