If your car registration is due in January, for example, then your car rego category would only have a value under January, the rest of the year would be 0. It helps to spot expenses in various categories where you might have overspent and potentially help you to prevent doing this again. I’ve typed in some data to show you what it will look like, but you wouldn’t just type the same thing for each month. Household Budget Planner lets you see the estimated and actual income and expenses side-by-side, which is very convenient, especially when you update your spreadsheet regularly. You will notice that the formulas change automatically as you add your data (tip: use the fill handle to copy values across your budget). If there are months where the income or expenses are zero, then type 0 – this will ensure that the average calculates properly. If you’ve been tracking your expenses, then use the information to fill in your budget. It hence covers the expenses that revolve or recur twice a week as opposed to the monthly cycles that are in vogue for a large part. Type in expected income and expenses for each month. As its designation implies, this is a budget that is crafted twice a week. So you want to make sure there are no calculation errors in your spreadsheet.ĭo this by entering easy data like $10 into various parts of your spreadsheet and making sure all the formulas calculate correctly. The budget decisions you make are only as good as the data you’re relying on. Save As again to create a budget just for this year. Save As now and you will have a template that can be reused every year. Tip: if you type January and click on the small black box (fill handle) in the bottom right-hand corner of cell B2 and drag it across, it will fill in the rest of the months for you without you having to type them. Next, type the months along the next row, staring at B2. Compare projected costs with actual costs to hone your budgeting skills over time. Input your costs and income, and any difference is calculated automatically so you can avoid shortfalls or make plans for any projected surpluses. Start a new document and give it a heading like Budget. This Excel template can help you track your monthly budget by income and expenses. Make sure to customise the spreadsheet expense and income categories to your personal circumstances. Steps Building A Basic Home Budget Spreadsheetīelow are the steps, accompanied with diagrams, to creating a basic home budget. You should always consult a qualified financial expert when making money decisions to tailor plans to suit your circumstances. In this blog, I share my savings and budget planning and what works for us. If you don’t have Excel, then the free alternatives ( Open Office or Google spreadsheets) are pretty similar and this tutorial should still be helpful the functions will just be in different menus.ĭisclaimer: This is general information only. The tutorial is based on the latest version of Excel, so if you’re using the older version of Excel, you will find the same functions in the toolbar and menu bar. This tutorial starts from the very beginning for those who have never met a spreadsheet before. When you create your own budget yourself, you can customise it to meet your own needs and circumstances exactly. I have been using it now for over a decade. Making a spreadsheet budget in Google Sheets or Excel is easy, but it’s faster to start with a free template.Excel is an awesome program for personal budgeting. Easy sharing and real-time collaboration.Using our annual budget spreadsheet can help you to manage you income and expenses and budget more effectively. Complete control of your budget categories Getting to grips with your monthly and yearly personal and household budget can be challenging, but it doesnt have to be.Google Sheets and Microsoft Excel both offer: Spreadsheets are the most popular tool for making a budget If you notice that you’re spending too much on dining out, you can reduce that expense and allocate more money towards your savings. You can also analyze your spending patterns and make adjustments accordingly. The template will help you track your expenses and ensure that you stay on track with your savings goal. By using a monthly budget, you can allocate a specific amount of money each month toward your travel fund. And budget templates allow you to set financial goals and track your progress towards them.įor example, let’s say you want to save for a vacation. You can easily identify areas where you can cut costs and save money. Because they provide a structured framework for organizing your income and expenses, monthly budget templates are essential tools for managing your money.īy creating a monthly budget, you gain control over your money and can make informed financial decisions.
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