Budget Spreadsheet for Debt Resolution Blog

A Budgeting Worksheet for Your Debt Resolution Program

When you start a debt resolution program with Beyond Finance, you are taking a big step toward financial independence and freedom. While enrolled, your number one program priority is to make your monthly deposits on time. Having a budget in place will help you make sure you are setting aside funds for your program and can also help you build healthy spending habits so that you can keep up with your regular bills and responsibilities. Use our budgeting worksheet for your debt resolution program to set yourself up for success now and in the future. 

Build Healthy Budgeting Habits During Debt Resolution

Debt can become overwhelming for many reasons. Many people who find relief with Beyond Finance do so because of financial circumstances out of their control. Things like medical issues, layoffs, unexpected family events, and economic downturns can all have a big impact on your finances. You may relate to this and be encouraged to know that budgeting is a great way to take back control of finances.

Download Our Free Budgeting Spreadsheet

We’ve created a customizable budgeting spreadsheet to help you stay on top of your finances.

Use the spreadsheet to record your monthly expenses and ensure that you are budgeting for your program deposits and still have funds set aside for your other financial responsibilities.

Our budget spreadsheet is thorough because we want you to account for your spending in as much detail as possible. While this approach will take time and attention, we think it is essential to your budgeting efforts. When it comes to financial freedom, there are no quick fixes or shortcuts. Real change takes time, and the effort you put into budgeting will be worth it. 

We’ve tried to anticipate many different types of expenses that you may have. To make the budget your own, feel free to edit the spreadsheet, so it fits your needs. You can add or subtract line items or group some expenses together if that is more convenient for you. 

Do I need to update my budget every month?

It depends, everyone has different spending and budgeting needs. If your spending is fairly consistent and you regularly have money left over, you may not need to update your budget monthly. Instead, you can check in once a quarter and make adjustments to your savings goals or put extra funds toward speeding up your debt settlement program. 

If you are regularly overspending or falling short, it makes sense to update your budget monthly. You’ll want to budget carefully every month until you are consistently meeting your goals. 

Save your own copy of this sheet by clicking File > Make a Copy.

Want to fill it in by hand? Check out the printable version!

To print click Download > PDF and open the PDF and save to your computer to print later. 

Or you can select Print > and follow the instructions on your computer to print right away. 

Benefits of Following a Budget During Debt Resolution

Did you know a lack of visibility on spending can result in financial problems? When you don’t see exactly where your money is going, it can be easy to overspend or lose track of important payments. Building a budget helps correct this by letting you see all your income and expenses in one place. 

During debt resolution, a budget can help you: 

  • Set aside money for program deposit(s)
  • Keep track of your bills and financial priorities
  • Identify places where you are prone to overspending
  • Prevent accidental overdrafts
  • See where your money is going
  • Build up an emergency fund 

Other Tips to Get The Most Out of Your Debt Resolution Program

Our most successful clients get off to a good start by making sure that their direct payments to creditors are turned off, and their program deposits are set up properly.

  • Turn off automatic payments to creditors
  • Turn on autopay for program deposits to your Dedicated Account
  • Sync program deposit(s) with your paydays

Check out this blog to learn more program success tips and get off to a strong start on your journey to financial independence.  

Not in Our Program? Don’t Miss Out!

If your credit card and loan debts feel out of control, change is possible. Debt resolution programs, like Beyond Finance, offer an alternative to making expensive minimum payments that can draw out repayment or bankruptcy, which affects your credit for up to seven years. 

You can talk to a Certified Debt Specialist to find out if our program is right for you and your debt.