Structure Your Personal Budget Spreadsheet If you've ever tried to make a personal budget you know the basics. Repeat this for each row of income. Follow the submission rules -- particularly 1 and 2. Enjoy! Step 1: Open a Blank Workbook Your goal here is to create a zero-based budget where you account for every dollar you spend and earn. Note: on the Home tab, in the Font group, you can use the different commands to change the font size and font style of text. Group your expenses in a way that makes sense to you and add them to the spreadsheet. Required fields are marked *. Select your favorite budget template based on your needs and liking. Sites like Vertext42 and Spreadsheet123 offer nice collections of budget templates. Then, do the same for your expenses. The formula will automatically calculate the running balance after the addition of income in the next month. Click on columns Acc No in both tables. " To make it evening easier to read, you can besides shade a few areas . Read More Club Thrifty February Budget BreakdownContinue. 4 Select cell range B1:M1. Make it as specific or vague as you want. Its also a great option if youre a Money in Excel user and looking for a replacement for the vanishing service. Learn much more about templates > Type "budget" in the search box. However, finding a program that fits your unique needs can be challenging. You'll use this same exact formula for the "Income" and "Balance" fields as well, except that you'll use "D" and "E" respectively instead of "C". Enter the word Jan into cell B2. To fix the body, click edit. Learn how your comment data is processed. Label columns B-F as follows: Date Paid Description Budgeted Cost Actual Cost Remaining When you purchase through our links we may earn a commission. Method 1 Using Templates Download Article 1 Open Microsoft Excel. The more you can focus, the quicker you can get it done. Go to the bottom of the column for the first month, below expenses. Heres why I love my emergency fund and why youll love yours too! Step 1: Prepare a table, and enter its row headers and column headers as following screen shot shown: Step 2: Enter your budget data of income and expenses into the table, and calculate the total incomes of every month and every item: 1. Find one that looks clean and simple, and that will work for your individual or family budget. On the right, pick one of the two red options in the Negative numbers box. Heres how an expenses list with actual and estimated expenses would look like. Be sure to include all bills, loans, and miscellaneous expenses. A budget template would help an individual or a company to track down their expenses on time. Free budget spreadsheet- Don't want to create your own Excel budget template? I just outlined my budget for the rest of the year with this! 2. Using a graph on your spreadsheet budget is optional, but it can help you better visualize how much you are spending. After making a budget, you have to track your expenses in order to stick to your plan, so we are going to start by tracking expenses as well. You can review the layout configuration and adjust it as needed. And what if you do not have funds or savings, just the regular expenses? Its been another great month in the world of web-based freelance writing. To calculate the totals from different sheets, click on the cell you want the total to appear and input the formula =SUM(SheetName!Cell,SheetName!Cell,SheetName!Cell). In this case, the formula looks as follows. Now it is starting to get fun! Google offers a free version spreadsheet program called Sheets. Get it here. And Microsoft Excel automatically adds the other months respectively. Need to customize your budget even more? Excel is infinitely customizable and allows you to manipulate data in order to analyze trends, review budgeted versus actual spending, and gain insights into your finances. You can also create an Excel budget spreadsheet from the ground up! Most of us probably never will, but one use Excel provides is its personal budget program. You might also type "Recurring" next to a row containing an expense for a subscription or a monthly (or weekly) service. How to Create a Budget Template in Excel Creating a budget template in Excel is relatively simple. Thanks so much for reading, and good luck! Select the range with expenses and the two titles named Actual and Estimated. Fixed expenses will be those expenses that are the same month after month. > Get this personal budget template To automatically calculate the difference between your Planned and Actual income, input the formula =SUM(F4-E4) after each row. To keep expenses on the same sheet, create a new area underneath the Income section and customize it how you like. Enter Excel. On Mac, first click File in the upper-left corner, then click New from Template in the drop-down menu. Keeping track of your budget, whether for yourself or your entire household, is key to money management. Step 1: Opening a Workbook and Creating the First Month. Grab a FREE Budget Template Need a spreadsheet budgeting template but dont want to do it yourself? Now, its time to list all your expenses and calculate your savings. Fixed Expenses. Simply create another section at the bottom of the sheet. Add Savings at the bottom of the list after Total. You can get a jumpstart on your budget by using a template. It's at the top of the Excel window. There are personal budget templates that you can use to speed up the process, or you can create your own personal budget file from scratch. Note: on the Home tab, in the Font group, you can add a top border. 1. To calculate the total planned budget, input the formula =SUM(Planned Expenses Total, Planned Funds Total, Planned Savings Total). Download. You're then on your way to budgeting your money with premade sections and built-in formulas. Join 425,000 subscribers and get a daily digest of news, geek trivia, and our feature articles. Variable Expenses. If you followed the steps above, your formula should look similar to the image below and your uncertainty budget calculator will now calculate combined uncertainty. Input your costs and income, and any difference is calculated automatically so you can avoid shortfalls or make plans for any projected surpluses. Have you created your own budgeting spreadsheet in Excel? Type Total in the last once you have listed all your income sources. Support wikiHow by This is a great way to save an entire years worth of spending in one Excel workbook. If you're a current Microsoft 365 . =SUM ( Running Balance + [Income - Expense] ). Budgets help you increase your savings or profits by helping you stay within the estimated costs and expenses. 2. Next, label section E3 as Planned or Budgeted. This is the amount of income that youre planningon coming in. She learned how technology can enrich both professional and personal lives by using the right tools. Learn more about Greg here. Click New to create a new budget plan document. First, enter the different type of income and expenses in column A. Open the Budget plans list ( Budgeting > Budget plans ). Meal planner. Lets face it: The COVID-19 pandemic has turned into a financial nightmare for many of us. hopefully now I can stay on target. Step 3: Decide What Budget Period to Use. Step 2 Under the items column you are going to then have 2 sub-columns. In the Total spending column or Final balance column? As you complete all outflows, you'll now come to the subtotal for the Outflows. Hit the 'Enter' key. California Consumer Privacy Act (CCPA) Policy. Section F3 is your Actual column, and this represents the actual amount of money that hits the bank account hopefully more than you planned for. As you can see by the example, I just added another column. This Excel template can help you track your monthly budget by income and expenses. Next, select cell B2, click the lower right corner of the cell and drag it across to cell M2. 2 Open a New Workbook. The household monthly budget in Excel template will download and open. Click on the Excel icon in your computer and start up a new blank spreadsheet. Grocery list budgeting. Depending on the software version you have, you may see an option to click on the "New from template" tab in a drop-down menu or "New tab." Clicking either tab changes the . The key is to make tracking your regular spending easy. It's a great way to keep track of your money because it is so darn accurate. Example: =F32-B32 Step Eight: Adjust Your Spending What's your monthly remaining balance? With her B.S. FREE Budget Spreadsheet Does making your own budget template sound too complex? Were committed to providing the world with free how-to resources, and even $1 helps us in our mission. You have a variety of budget templates to choose from this list. Why budget in Excel? RELATED: 7 Essential Microsoft Excel Functions for Budgeting. Don't worry, we've got you covered. Simultaneously, we can add the total income and the expense, in particular, in cells A2 and A3, and the net income or the savings in column A4, respectively. It also automatically calculates the difference between actual and estimated costs for you. Because you want a clear picture of money coming in and going out, you should add totals to your income and expense sections. Let's face it: the COVID-19 pandemic has turned into a financial nightmare . Click Ok. Read More Why My Emergency Fund is the BombdiggityContinue, Good morning, peeps! Remember, for the final balance you must do the total spent minus the total income to get an accurate total. Then, label one row Total Spending and another Final Balance. This is an easy way to help you track your spending so you can compare your planned totals to your actual totals. It's very important to track every transaction! Fill in the remaining columns such as when each bill is due and its amount. Follow these steps. When listing your expenses, you can customize the categories to your liking. Here's a free spreadsheet template to help you take control of your money!Hello is dir hier. Although some months display $0, youll have the formulas ready to go when you add the amounts later. I know youre excited.but please try to contain yourself. Whether your budget is super simple or extremely complex, this step-by-step guide will teach you how to create a budget in Excel that can quickly be customized to meet your familys budgeting needs. Once both are highlighted, go to Insert and choose which type of graph you want. 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