excel spreadsheet household budget planner

#EXCEL SPREADSHEET HOUSEHOLD BUDGET PLANNER HOW TO#

Personal Budget Template (Excel, Google Sheet, OpenOffice)Ī personal budget is a financial plan that allocates your income towards routine expenses eventually helping to do savings or debt repayments.īudgeting is similar to dieting.

The dashes indicate a placeholder for a formula and will populate if and when it makes sense. You can skip the greyed out columns (don’t delete them) and don’t overwrite anything with a - in the cell. You only need to enter balances in the white rows. So if you’re starting date is the first of this month, you don’t have to fill out anything until the month is over. For example, if I was filling this out today on February 7th, I’d enter the balances under the Jan ‘20 column. At the beginning of the month when you fill this out, you’ll enter the balances of each account in the previous month’s column. In the Balance Sheet’s sidebar, you’ll see the accounts you’ve named on the Config tab. This is where you will add up all the money you have and owe in your accounts so you can see if your wealth and net worth are increasing or shrinking.īefore moving on, make sure the first three items are marked complete in the Setup checklist on the Config tab. Once at the beginning of every month you’ll fill out the Balance Sheet tab for the previous month. Don’t enter expenses or transfers you already accounted for in the Fixed Monthly Costs box on the Config tab. Go ahead and enter all your expenses beginning from the start date you entered on the Balance Sheet. When you enter an expense, start with the date in column a, the name of the place you spend the money in column b, and then tab over to the column with the right budget category for that expense. Again, there are suggestions in the note on the budget category* cell.Įxample of how fast you can enter expenses by using the 'tab' and 'enter' keysĪcross the heading, you’ll see your guilt-free budget and annual budget categories from the Config tab. In the Guilt-Free Budget box, enter categories of expenses and an allotted amount. This is your money to spend however you want. Create your guilt-free, monthly budgetĪs explained earlier, it’s called your guilt-free budget because this is what is left over after setting money aside for savings, retiremenet, and future annual expenses. Now you’re left with your total for guilt-free budget, which is how much you have left for discretionary spending.

“The goal is to make sure that enough income is first saved or invested before monthly expenses or discretionary purchases are made.” This is the pay yourself first concept described in “I Will Teach You to Be Rich.” Along with budgeting for annual expenses and retirement, I highly recommend setting more money aside for extra savings. There are suggestions in the note on the budget category* cell.

There is room for eight additional fixed monthly costs. If you don’t contribute to a 401k or typically receive any extra monthly income, enter $0.

Follow the orange colored cells as cues for which part to fill out next. In the top left box on the Config tab, enter your income. Remember, cells with an asterisk(*) mean there is a note on that cell with more information.

#EXCEL SPREADSHEET HOUSEHOLD BUDGET PLANNER HOW TO#

How to Use My Google Sheets Budget Template If you’re stuck and need more info to get going, read on to get the details. There are simple and clear instructions with extra notes on cells that have an asterisk(*) - just hover over those cells to the see note. If you want to try my Google Sheets budget template, make a copy of it and try it out. A good budget system will create a change in your behavior. On less of things I care little about, and more on the things I care a lot about.Ī bad budget system only shows you where your money is going. I can customize it exactly the way I need to actually help me spend my money more thoughtfully. But these apps don’t really help me spend less money - they just tell me where I spend my money and try to guess (poorly) the category.Īnd that’s why I love budgets built on spreadsheets. Most of my friends use a budgeting app like Mint and I’ve tried them, too. After budgeting money for savings and annual expenses, you can budget your discretionary spending, guilt-free.

Excel spreadsheet household budget planner