![]() You just need to find the one that works best for you. Pre-installed templates can be obtained by clicking the File tab and selecting New and then select Sample templates and choose Personal Monthly Budget and finalize by clicking Create. There are plenty of other budgeting strategies available. Step 2: Run the Excel program and select a pre-installed template for tracking personal expenses or spreadsheet. If you aren't ready to commit to the chore of taking a deep dive into your accounts each month, that's OK. You might have specialized categories for things like "fishing" or "knitting." Don't be afraid to drill down into your specific spending patterns to build a spreadsheet that will reflect your real spending choices, including your desires and hobbies. If you decide to move forward with a budgeting spreadsheet, you can craft one with categories that suit your needs. As you look at each expense, you'll be forced to consider whether or not each purchase was worth it. In the very first month, you'll quickly see where you are overspending. You'll need to be willing to commit around 30 minutes a month to pore over your expenses. Is a budget spreadsheet right for you?Ī budget spreadsheet is a bit more time-consuming than a budgeting app. ![]() The next section allows you to add the Expense name, Date, and Account. The total costs of the expenses are color-coded for easier viewing. Plus, we've even been able to set aside funds for big money goals like retirement.īut we haven't had to stop spending on things that we value, thanks to the monthly reminder of our spending choices. The first section allows you to add details like your Name, Position, Department, Manager, Purpose, Start Date, End Date, and Mileage Rate. We've built savings for a down payment on our first home and built a $35,000 emergency fund. ![]() Since using a spreadsheet to budget, we've been able to tackle big financial goals by identifying areas where we can cut spending and save more. I'm the first to admit that it felt a bit tedious at first, but this habit has become a critical part of our solid financial foundation.Īn example of the author's budget spreadsheet. We record each expense in the appropriate column it takes about 30 minutes to complete the process. Once a month, I sit down with my husband and we comb through our spending. The beauty of a budget spreadsheet is that you can create any number of categories to help you drill into the details of your spending. Although there are more convenient apps out there that would do this for me automatically, my spreadsheet habit works best for me.Ī few of the categories in our spreadsheet include travel, housing, transportation, pet, groceries, eating out, fun splurges, and miscellaneous items. I use a simple spreadsheet to track and add up my expenses in each spending category. However, a simple spreadsheet has worked wonders for my family's budget to help us achieve our money goals. But I've come to see a lot of value in my monthly budget-spreadsheet session.Ī spreadsheet might not be the right budgeting tool for everyone.
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