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The basic principle of any budget is to keep your expenses lower than your income<\/strong> and you will be never running out of money. But following this, in reality, can be quite a task.<\/p>\n A Budget spreadsheet template can make the process of financial allocation simpler <\/strong>and help you gain visibility into your<\/a> finances<\/strong>.<\/p>\n Just put in values in a few cells and Excel will calculate the rest for you!<\/em><\/p>\n This Free Budget Spreadsheet can be used to keep your finances intact<\/strong>. You need to plan your savings and spending goals<\/strong> so that you never run\u00a0out of money<\/strong> at the end of the month and keep your wife or boss happy.<\/p>\n You can easily manage your money<\/strong> with this free Excel template and you will never exhaust your funds and enter into a debt hole.<\/p>\n The steps followed in this FREE Excel template are:<\/p>\n Let’s look into each of these steps one-by-one!<\/p>\n Download this Excel workbook and follow this tutorial on how to make a budget spreadsheet in Excel:<\/p>\n download excel workbook<\/strong><\/span>Budget-Spreadsheet.xlsx<\/span><\/a><\/p>\n <\/p>\n Begin using this template by entering the different sources of your monthly income<\/strong>.<\/p>\n For a person with a salary, simply enter your monthly salary (post-tax)<\/strong> and income from other part-time jobs or passive income streams.<\/p>\n If you have your own business<\/strong> but the income is not constant, you can take an average of your past 6 months <\/strong>and enter that amount.<\/p>\n For example, you can enter a salary income in cell F4 – $5,000, extra income from part-time jobs in cell F5 – $850, and income from investments in cell F6- $500.<\/p>\n The total income will automatically be calculated<\/strong> and displayed in cell F7 – $6350.<\/p>\n <\/p>\n Next, you should plan your savings for different purposes<\/strong> based on your income and expenses.<\/p>\n You need to determine the amount you wish to put aside for different milestones in the future. Enter the percentage of your income you want to save<\/strong>.<\/p>\n The amount in dollar terms for each Saving & Investment<\/strong> and the TOTAL<\/strong> savings amount will be automatically calculated in Excel.<\/p>\n <\/p>\n The next step would be to list down where you spend your money<\/strong> each month.<\/p>\n In the Expenses section, there are different categories<\/strong> mentioned like home, food, health, transportation, debt, entertainment, personal care, etc. The best practice would be to put in place money for these expenses<\/strong> so that you are prepared for it.<\/p>\n Enter amounts for each of these expenses.<\/p>\n Excel will automatically calculate the percentage allocation for the expenses categories<\/strong> and the TOTAL monthly expenses<\/strong> as well.<\/p>\n Once all these values have been entered, your summary table will be ready<\/strong> too!<\/p>\n It will provide you with the amount you are left<\/strong> with<\/strong> i.e. NET INCOME,\u00a0 after taking into account your savings goal and monthly expenditure.<\/p>\n <\/p>\n In the end, all you need to do is repeat the same process each month<\/strong> and take into consideration any new savings goals or expenditures you may encounter in the future.<\/p>\n That’s it! Your monthly budget spreadsheet is prepared.<\/p>\n But, you need to remember that this is a continuous process<\/strong> and you need to make necessary additions and revisions<\/strong> as and when required.<\/p>\n <\/p>\n Excel is the go-to tool<\/strong> for planning and tracking your personal and business finances. Using this Excel template, you can easily manage your finances and make your financial<\/a> health a priority.<\/p>\n Check out all our other Free 141 Excel templates here<\/strong><\/a>.<\/p>\n <\/p>\n Helpful Resources:<\/span><\/strong><\/p>\n Make sure to download our FREE PDF on the 333 Excel keyboard Shortcuts here<\/a>:<\/strong><\/p>\n You can learn more about how to use Excel by viewing our FREE Excel webinar training on Formulas<\/a>, Pivot Tables<\/a>, Power Query<\/a>,<\/strong> and Macros & VBA<\/a><\/strong>!<\/p>\nA simple solution<\/strong> to this is to use an Excel budget spreadsheet<\/strong>!<\/h4>\n
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<\/a>Step 1: Enter your Income<\/span><\/h3>\n
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<\/a><\/p>\n<\/a>Step 2: Enter your Saving Goals<\/span><\/h3>\n
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<\/a><\/p>\n<\/a>Step 3: Enter your Expenses<\/span><\/strong><\/h3>\n
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<\/a><\/p>\n<\/a>Step 4: Repeat & Revise<\/span><\/strong><\/h3>\n
Conclusion<\/span><\/strong><\/h3>\n
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