FINANCIAL WORKSHEETS
While the Texan Smart team is always here to help Tarleton students, we want you to have resources to use whenever and where ever you need them. Below we have created some finance driven worksheets to support you in your journey to financial wellness.
More to come!
FOR ADDITIONAL HELP CONTACT TEXAN SMART DIRECTLY:
Reach out to us via email at texansmart@tarleton.edu or phone at (254) 459 – 5516 to set-up an in-person or virtual appointment. Our office is located on the lower level of the Thompson Student Center, room 12. Visit us anytime during regular business hours 8 A.M. – 5 P.M.
How to Use a Budget Sheet
The instructions below explain how to use and complete the Texan Smart Printable Budget Planner. If you need additional assistance, contact the Texan Smart Team.
Step #1
The first step in filling out your budget is deciding what month you will be budgeting for and writing that in the Month box.
In the example, Oscar P needs a budget for January. So he filled that in under the Month box on Texan Smart’s printable planner.
Step #2
Once you have filled in the month, you can move on to your expenses. You will list the name of the expense under the “Expenses” column. Fill in your goal amount of money you want to spend on that expense under the “Budget” column.
For example, if Oscar P wanted to spend a maximum of $150 on groceries, he would write “$150” under the “Budget” column next to the expense named “Groceries”.
Step #3
Once you have set your goal spending on your expenses, then fill in your income amounts on the right side column. On Budget Planner we have provided, there are two subsections for income to be listed. This effects you if you have more than one income source. Once all forms of income are identified, you will add them together and write the total under “Total Income”.
For example, if Oscar P worked for Tarleton making $1400 dollars a month, $1400 would be written under “Income #1”. But he also works a side gig performing at events and selling merch, which brings in an additional $400 a month. So, he would list that income under the “Income #2” subsection. In Oscar’s case that would bring his total to $1800, which is depicted under “Total Income”.
Step #4
At this point, your goal spending is set. As you pay for each of the listed expenses, you will need to fill in the actual amount you spent. Once all those necessary expenses are paid, then you will total your expenses at the bottom of the “Actual” column.
Throughout the month, Oscar P was able to write in all of his fixed expenses like his rent and credit card payment at the beginning of the month. Then as he spent money on variable expenses like gas and groceries, he filled in the actual amount he spent. For example, Oscar may have budgeted $150 for gas but ended up only using $100 worth.
Step #5
At the end of the month or when you have paid your final expense, add up all of your actual expenses. That number will then be copied over to the right side panel under “Total Actual Expenses”.
For Oscar P, once his bills were paid and other necessaries taken care of, his actual expenses totaled to $1,310.
Step #6
The final step is to calculate your remaining balance! To do that you subtract your “Total Actual Expenses” from your “Total Income”. This number should be your remaining balance of funds. If you have money left over, you might decide to add this to a savings account as a start to your future goals. If you have a negative balance contact Texan Smart to help you evaluate your spending.
To finish up Oscar P’s budget, he subtracted his total actual expenses, $1,310, from his total income of $1800. His remaining balance calculated to $460, that he can now put it into his emergency savings account.
Negative Remaining Balance?
If you have a negative remaining balance and are still in need of food and/or general hygiene products. Tarleton students can sign up with the Purple Pantry for access to free shelf stable staples, fresh vegetables and meat from the Tarleton Farm, and some general hygiene products.