You may learn how to use Excel better in the process. You can even use these personal budget templates to help teach your children the importance of creating a budget. These templates are easy to useall you have to do is plug in the numbers into the spreadsheet. If you use and customize any template for your personal budget, make sure you understand how it works and always double-check the formulas. Discover monthly budget templates, household budget templates, vacation budget templates, and more. 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. As the template is in Cab format you will have to extract the file to reveal the template.42 Effective Ways to Save Money Budgeting Tips for the New Year Why Use Excel for your Personal Budget?įirst reason: it's free. This Excel template is compatible with Excel 2003-2013. Enter the word 'budget' into the search box and youll see many options. To see the budget templates in Excel, open the application and select 'More Templates' in the Home section. The monthly sections make budgeting and forecasting quite easy and all the added information is automatically summarized at the end of the worksheet, to show total expenses and the amount of cash that is short or in excess (savings), at the end of each month and at the end of the year. Related: How To Create Custom Templates in Excel. The sections in this template allow managing your personal budget on a monthly basis, as well as to track your yearly income and expenditures. This is why this template can be used by not only individuals for home based budgeting but also by small business owners and sole proprietors. This will not only allow you to get a good idea about your financial standing at a glance but also provide you with details about your cash flow. Suitable for Personal Use and Small Business OwnersĪll you have to do is to enter the relevant details about the income and expenditure. With this template you don’t require going through the hassle of configuring your worksheet with relevant formulas and formatting as all that is already covered. Plan and Manage Your Monthly and Yearly Budget The Free Personal Budget Worksheet is an Excel template for making your very own personal budget planner. Besides, not everyone has the expertise to use Excel like a pro. The best method to maintain a personal budget planner is to use an excel spreadsheet, however making one on your own can be too time-consuming and laborious.
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