Now that we’ve told you why you may want to make a budget in Excel, let’s show you how it’s done!
BUDGET WORKBOOK EXCEL HOW TO
If you don’t want to follow steps for how to make a budget in Excel, you can find one that fits your needs and plug in the numbers for each month. You can create a budget with just a few simple formulas, and you can adjust the spreadsheet to your specific needs as they change over time.Īnother great option with Excel is the budget templates that are available online. It’s also easy to use and helps you organize your information to make sense for your financial plan. It’s top-rated for personal finance usage! Why Use Excel?Įxcel is an excellent program for creating budgets because it is a powerful and flexible program. For example, if you want to track your budget for health care expenses, you can filter expenses by category and make everything easy to find.
BUDGET WORKBOOK EXCEL PLUS
Plus a spreadsheet like Excel means you can more easily find expenses and income in your budget. The great thing about using a spreadsheet to organize your budget is that you can use it again and again once you have your setup done and formulas created.Ī spreadsheet allows you to use different formulas or functions that help you organize your data into useful information, such as how much cash is left at the end of the month or if you’re over budget.
It’s really the fastest and easiest way to get started when you are a beginner.īut we also see why people like the ease of spreadsheets as well.
Now we are a fan of the pen-and-paper method. Monthly Totals (Are You Overspending Money?) Home Budget - Our original selection of home budget worksheets.Family Budget Planner A yearly budget planner, with the same categories as the household budget spreadsheet.Household Budget Spreadsheet (monthly) - More detailed and includes child expenses.
Personal Budget Spreadsheet The 12-month version of the above spreadsheet.Money Manger - A more advanced budget management tool for Excel.After making a change, you should check the formulas to make sure they are still correct. If your Net is negative, that means you have overspent your monthly budget.Īdding or Removing categories: You need to be careful when adding or removing categories, to avoid messing up the formulas used for calculating the totals. The Monthly Budget Summary table in the upper right of the worksheet totals up all your income and expenses and calculates your Net as Income minus Expenses. So, if you spend more than you budgeted for, the value in the Difference column will be red - to help it stand out as a warning. The spreadsheet uses the accounting format where negative numbers are in parenthesis like (115.00), and conditional formatting is used to make the negative numbers red - red means bad in this case. The calculations in the "Difference" column are set up so that negative numbers are bad. Using the Personal Monthly Budget Template
See our articles Make a Budget and 5 Basic Budgeting Tips if you are just getting started or new to budgeting. At the end of the month, you record in the "Actual" column how much you really spent during the month.įor a more detailed set of budget categories, see the Household Budget worksheet. This represents your goal - you're trying to keep from spending more than this amount. You record your desired budget for each category in the "Budget" column. The purpose of this type of budget worksheet is to compare your monthly budget with your actual income and expenses. Some numbers are included in the Home Expenses category as an example, but you'll want to replace those numbers with your own. To use this template, just fill in numbers that are highlighted with a light-blue background (the Budget and Actual columns).
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