Subscribe To Save
|
Custom Search
This Home Budgets Page Teaches You How to Budget your Utilities
- Pick and print one of the two free utility budget worksheets located at the bottom of this page. (You will need 12 for a full year) - Folder or Binder for your worksheets (Label your folder "Home Utility Budget"). - Gather all your utility bills - Calculator - Ink pen - Spouse (optional) Once you have gathered all of these items together you are ready to begin
Next, just under the month you will see: - Title - Date Due - Actual Amount - Amount Paid - Paid (P) Unpaid (UP) Paid Some (PS).
Below the title is where you will record the names or companies that you owe and will be paying. Date Due is just what it says. In this column, you will write the due dates of all your bills. Next is the Actual Amount. In this column, you will record the amount of your bills as they appear on your monthly statement. Amount Paid is where you will write the amount that you paid whether it is the exact amount, over or under the amount, record that in this column. Last but certainly not least is the paid column. Here you will put the initials.
(Please note that all of my bills are in order by the due date. From the first bill to be paid to last bill to be paid in that month. I recommend you do the same, because it is much less confusing that way)
Title= Drain You Dry Water Company Due Date= 2nd Actual Amount= $60.45 Amount Paid= $60.45
Paid Initials= I have Placed a (P) because I paid it in full.
The Title, Due Date Actual Amount, And Paid Initials are recorded same as my first bill, But the Amount Paid isn’t the same. Notice I paid $24.00 instead of the Actual Amount of $12.00. The reason I did this is because with it being such a small amount doubling it will pay the next month. My next statement will show a zero balance. Now I only paid one month ahead for this example, but in real life, I recommend paying the small bills up about six to twelve months. Some people do this at the first and the middle of the year. Let me suggest doing this in April and or October for twelve and six months. If you pay in April it puts you well beyond Christmas and end of the year home and property taxes. If you file your income taxes early, and you normally get a refund, this can help you to pay it up. If you normally owe federal and state taxes you might want to adjust to October or to suit your needs better. The reason I suggest October is because its three months before Christmas and two months after your kids go back to school. I don’t know about your family but Christmas and back to school are the most expensive times of the year for us, we have five children.
The next bill; Flatulence Propane Company, is an example of a bad habit that a lot of people have. Let’s look at it.
The Actual Amount is $173.88 and the Amount Paid is $100.00 so under the Paid Initials column you will put (PS). I understand why some people do this; you’re a single parent just trying to get by or for whatever reason you just can't pay any more on this bill. Review the Money Saving Tips on this site and stick to your budget/budgets that you get from this web site, and I promise you will pull out and pull ahead. Now the reason why this is a bad idea! What is the late fee on that bill? $8.00 oh, really, ok first you’re behind, and it will be extremely hard to get caught back up, which will put you behind for several months. Now let’s say it takes you six months to get this bill up to par. $8.00 times 6 months is $48.00 that you could have put in your pocket. What you're behind on three bills, oh my! They are $8.00, $5.00, and $12.00, ok let's figure them up $8 + $5 + $12 x 6 months = $150.00. Now if you are a procrastinator and your late every month take all your late fees add them together and times them by twelve. (Example) 10 late fees
$12.00 $10.00 $5.00 $11.00 $25.00 $6.00 $8.00 $3.00 $5.00 $2.00 +______ $87.00 a month in late fees 12 Months x______ $1044.00 a year
Does that scare you? GOOD! Yes you really could have paid for that new super capacity washer and dryer that you need so much. Stop wasting your money pay your bills on time.
Now Zapper Electric Company you will notice I paid $95.00 Amount Paid Instead of $94.72 Actual Amount.
Did you see it? I personally do this to my bills. I round up to the nearest dollar, even if the amount is $1.01, I still round up. (note; do not round down this will cause you to have a late fee over a few cents.) The reason I do this is because number one I am always ahead, even if it’s just by a few pennies. Second when you’re recording this number in your bills only checking account registry you’re less likely to miscalculate, it makes its easier. Remember no cents, makes sense.
The last bill on our home budgets utility worksheet is Glued Ear Cellular Service, take a look.
This one is unpaid so make sure you put a (UP) in the paid initial's column. Ok you just forgot to pay this one, so I am not going to preach at you over the whole late fee thing. However, I am going to tell you that if you maintain this budget, and check it every day or two you will never forget again.
As for this example we have $622.44 Actual Amount that we owe. Our Amount Paid is $457.86. If the number in the Amount Paid Total is less than the Actual Amount Total then you will need to subtract the Amount Paid from The Actual Amount to see how far behind you are for the month. If the Amount Paid Total is greater than the Actual Amount Paid Total then you will subtract the Actual Amount from the Amount paid to see how far ahead you are for the month. Now as for our example we are $164.58 in the hole for October. The goal here is to always be ahead, even if it’s just by a penny or two.
In our example, you see ideas on how to do this. They are:
- Remove satellite programing that no one watches.
- Get a dial up internet bundle from phone company
There are many more on our Saving Money Tips Page. Look at the navigation bar at the top left hand side of this page for the money saving tips button. If you have more bills than you have blank spaces on the home budgets utility worksheet just print another one and put your totals at the bottom of your second or third page, but remember to label the month on all of them.
General Home Budgets Utility Worksheet 
|
