However, even if this is the case for your business, consider at least drafting a basic budget, like the one on this worksheet. Even the best-established business can run into problems with its supply chain, or face a sudden, unexpected expense like a substantial rent increase. No matter how great your income, planning ahead is important so you don’t overspend, or spend too much in the wrong place. Easily compare your own spending against these sample low-income and high-income budgets to see if you’re on track or need to make adjustments. Smartsheet is a work management and automation platform that enables enterprises and teams to work better. Its pre-built personal budget template makes it even easier to create a budget, conduct monthly check-ins, and improve accountability. In this template, input your monthly budget and then track it against your monthly actual spent. With pre-set formulas in place, you will see your annual total, annual budget, and annual variance automatically calculated as you make changes to budget items. This Excel monthly budget template will be very useful for families as it takes into account the income of all the members of the family and gives the budget by calculating the expenditure of all the members. A great way to get everyone on-board with the idea of focusing and interacting regularly with your budget is to tie performance bonuses to it. So, at the beginning of the year when you plan your annual budget, set parameters for performance tied to profit, but also other categories such as return on investment in marketing dollars, keeping expenses at or lower than plan and so on.