As mentioned earlier, the Dave Ramsey Budget Forms are created for the use of simple zero base budgeting system mostly suitable for people with unpredictable income patterns. The Dave Ramsey Budget Form is a standard form already designed for this purpose. The following steps will highlight how the Dave Ramsey Budget Form can be used in creating a Dave Ramsey Budget sheet for your use.
1. To create your own budget plan using the Dave Ramsey Budget Model, it is expected that you download a Dave Ramsey Budget Form Template called the Monthly Cash flow plan form and the Irregular planning budget form that is available online for use.
2. You are expected to enter the amount that forms your monthly take home pay in the column “ Monthly Take Home Pay” at the top right of the monthly cash flow plan form. This forms the amount you have to budget for the month.
3. There are many categories and sub categories. For example food has groceries and restaurants. With each category, start from top to down filling out the “Budgeted Column” first. Then add up each sub category and fill in the number at the “Total “column. Remember to pay attention to the Dave’s percentage recommendations for each category in order not to budget too much for any category.
4. You are expected to enter your take home pay in the “Take Home Pay” box at the bottom of the monthly cash flow plan form. Add up all the categories and place the figure in the “category Totals” under the Take home pat column on the same page. Take you are now expected to subtract the category total amount form your take home pay. By doing this, it is expected you have a zero balance. This is in fact, the essence of the Dave Ramsey Budget Worksheet.
5. Finally, it is expected that you put all you have spent in the “spent column” for each sub categories. Doing this will help you in making any necessary adjustments, for your next month budget plan.
6. Save the Dave Ramsey Budget Spreadsheet to your computer and track them as often as required.
1. To use the Dave Ramsey budget excel effectively, you will have to follow strictly the theory in which the model is built. Else, it is advisable to use any other budgeting framework.
2. Do not supply incomplete information. For example when writing down your total income, it is important to include your take home after tax plus your spouse if available. Include everything from full time jobs, freelancing incomes, part time incomes and every other type of income no matter how little.
3. It is a zero based budget which means that difference between your income and expenses should be zero. If not so, check your calculations again.