You can designate the percentage of your total savings to each category. The simple budget worksheet uses a bar chart to exhibit how you can divide your savings. Try this template in WPS and save in Word doc:įAQ Q1. Discover WPS Templates' ease and productivity, and take your document production to new heights. WPS Templates, with its professionally created layouts and adjustable choices, enables users to save time and effort when generating aesthetically appealing and useful documents. Our collection ranges from resumes and presentations to invoicing and calendars. You may discover the ideal template to streamline your work and boost productivity whether you're a student, professional, or company owner. WPS Templates provides a diverse range of templates to meet a variety of demands and functions. Where and How to Find a Free Excel Template? 1. For better money management, customize the template to your unique needs. Keep in mind that different scenarios require separate budget sheets, such as personal budgets, corporate budgets, or project budgets. Tracking: To keep on top of your budget, update and report your spending on a regular basis. Savings: Set aside a percentage of your earnings for savings or an emergency fund.īudget Categories: Create budget categories to monitor spending such as housing, transportation, food, entertainment, and healthcare.īudgeted Amount: Based on your financial goals and income, choose a target amount for each area.Īctual Expenses: Keep track of the actual amounts spent in each category and compare them to the planned numbers. Income: Include a space for any sources of income, such as a salary, investments, or side hustles.Įxpenses: Sort your spending into categories such as fixed expenses such as rent and utilities, variable expenses such as food and entertainment, and debt payments. You just need to find the one that works best for you.Algirdas Jasaitis How to Create an Appropriate Excel Budget Template?Ĭonsider include the following vital components in your Excel budget template: There are plenty of other budgeting strategies available. 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. 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. 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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