At some time or later, when you earn or receive income you will need to plan how to use your income wisely. The Budget templates here will help you establish what your income less expenses are and whether you are left in a surplus or a deficit at the end of the month. You can download these templates onto your personal computer and keep record of all your future budgeting requirements.
Budget Template
This excel spreadsheet is broken up into 2 sheets; 1) 12 Months Budget, and 2) Actual vs. Expected expenses. In the 12 Months Budget sheet, first choose the current month (previous months will also be shown) and then fill in your income and expenses for all the months. Excel will automatically do a comparison between your actual and expected/projected expenses. The results will be shown in the actual vs. expected expenses sheet. Please note that this looks at your expenses and income recorded in the previous 12 months. Therefore, it is important that you keep record of your income and expenses. The 12 Months budget template is broken down in various categories, if they do not apply to you, just place a 0 inside the block or leave it blank. If you would like to add or change the wording of a budget item to customise it to your needs, you may do so. However, please do not delete/add any rows or columns in the template. For any queries on the budget template please email us at: CED.Consumer@fsca.co.za
Missing a Payment
This spreadsheet will allow you to see the long term effects if you miss a payment on a loan, or any debt that you may have. Please fill in your loan details in the “Loan Terms” sheet. When a payment is missed, depending on the loan provider’s terms and conditions, you may either: 1) Increase the term to repay the loan (with the same instalment), and 2) Increase your monthly instalment (with the original loan term). Under both cases you will incur additional interest payment. Also note that if you miss more than one payment, you will also run the risk of being blacklisted, which will prevent you from qualifying for credit in the future.
Loan Armotisation
This template requires no input. It simply shows how your loan gets amortised (i.e. extinguished by your monthly repayments). Most importantly, it shows the interest and capital components on each of your monthly repayments. Interest that you pay per month is based on your current outstanding loan balance. So the higher the amount you make, the more you pay off your capital amount and hence the faster you repay your loan. Even if it’s just R50 more a month, it can make a difference. The Budget Template below; is one Excel spreadsheet with three sheets which refer to the topics about.
Monthly Budget (Downloadable Template)
