![]() Dashboardįinally, in the Dashboard section, the monthly budget worksheet will show your status. You can also add sections dedicated to insurance premiums, tax obligations, and loan repayments, assisting users in staying atop of their bill payments while avoiding late fees and penalties. With special categories for dining, entertainment, and medical expenses, it ensures that every aspect of your household budget is accounted for, promoting mindful spending and savings accumulation. This template facilitates budgeting, allowing you to allocate funds to various categories such as home and living costs, electricity and other utilities, education fees, and transportation expenses, providing a comprehensive view of your monthly spending habits. Press the (+) sign to get additional rows so that you can write the sub-expenses of each and then get the Total Expenses at the end. ![]() Secondly, in the Expense table, there are lots of expenditure categories that you can modify according to your own special needs. Once you do that the monthly budget template will automatically Total Income for you. The template not only focuses on expenditures but also helps track revenue streams, including passive income, providing a clear picture of your financial health and helping plan for savings and retirement effectively.įirstly, you will type in the date you take the money income, description of the item, and the actual value. ![]() The template is consists of 3 main sections:īefore starting Dashboard, enter your expenses and income items for a month. The Monthly Budget Excel Template is a simple, user-friendly planner designed to aid individuals and families in managing their personal finance with ease and accuracy, ensuring a stable and secure financial future. You can use this Monthly Budget Excel Template for personal financial planning. And to do so, having a pre-made Excel budget worksheet is a good idea. Because making a budget plan will help you to have a strong financial situation. ![]() You should know where your money is going each month. You may learn how to use Excel better in the process.All of us need to make a budget every month unless your father is Warren Buffet or so. If you use and customize any template for your personal budget, make sure you understand how it works and always double-check the formulas. The flexibility comes at the price of possibly deleting or messing up an important formula, or making bad assumptions. In my opinion, the #1 problem associated with using a spreadsheet for your personal budget is the chance that you'll make errors. it's just a disclosure to say that I don't ONLY use Excel any more.Ī spreadsheet may not be the best budgeting solution for everybody. I started out using Excel to do everything, but I began using Quicken after a friend showed me how easy it was to keep track of checks and credit card charges and download transactions directly from my bank. A budget is almost useless without tracking what you are spending. For expense tracking, you could use my Income and Expense Worksheet, Checkbook Register, or the newer Money Manager. Tracking your income and spending comes both before and after making a budget. For example, I like to use cell comments to explain certain budgeted items in more detail (such as the fact that in May, there is Mother's Day and a couple of birthdays to remember).Ĭreating a simple personal budget (even if it is only on paper) is one of the first steps to gaining control of your spending habits. The reason I use Excel when working with my home and business budgets is that it gives me complete flexibility to keep track of the information the way I want to. If you don't own Excel, then Google Sheets and OpenOffice are free options to consider. ![]() Microsoft Excel isn't free, but if you already own Excel, then you can create a budget without purchasing other budgeting software. 42 Effective Ways to Save Money Budgeting Tips for the New Year Why Use Excel for your Personal Budget?įirst reason: it's free. ![]()
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