Personal Budgeting Worksheet

I Love Making Money
6 min readFeb 17, 2021

Your Personal Reduce Spending Worksheet

Personal Budgeting Worksheet by I Love Making Money

If you’re arriving at this page, this is a series that we’re doing called The Financial Freedom Success System. Click my profile to start at the beginning. If you’re looking for a personal budgeting worksheet and plan, then keep reading below.

In a moment you’ll see a worksheet to help you work through almost all your expenses and find ways to reduce spending — in many cases painlessly!

Simply fill out the Worksheet and then every day use the time you’ve scheduled to work on the next item on the list.

Here’s an example. The following are monthly expenses. We’ll use part of the Worksheet to help you understand what to do:

Reduce Spending Worksheet

Expense Current Amount Action Taken New Amount Follow-up Required?

Cell Phone $65

Car Insurance $50

Lunch (work) $160

So far, we’ve simply listed the current amount Jane spends on a few items. (Later, you’ll list everything you spend, because each item is a potential source of savings.)

Now we’ll do a little work:

Expense Current Amount Action Taken New Amount Follow-up Required?

Cell Phone $65 Changed plan $45

Car Insurance $50 Dropped towing $45 Will call in four months

When ticket comes off my record

Lunch (work) $160 Bring from home $80

So what happened? Jane called her cell phone provider and dropped replacement insurance and switched to unlimited texting between other people using the same carrier. (Everyone in her family uses the same carrier, and she decides that works for her.)

She also dropped towing insurance for her car, since in eight years she’s never needed it, and she plans to call back in four months when an old speeding ticket comes off her record — she’ll qualify for a lower rate at that time! She also learned that her teenage son could qualify for a lower rate if he makes the honor roll, so she’ll keep that in mind, too.

And, she’s started to take her lunch to work — she was throwing away leftovers, anyway. But she…



I Love Making Money

Kit Elliott is the founder and CEO of I Love Making Money, an independent publisher specializing in making and management training, guides and reviews.