![]() ![]() Other: School loans School expenses Credit card payments money put into savings Miscellaneous. Step 01: Calculate Monthly Income Step 02: Determine Ideal 50-30-20 Division Step 03: Compute Expenses in 3 Different Categories Step 04: Compare Actual.Financing expenses: Credit card fees check cashing fees Bank fees Other fees.Personal/Family Expenses Money sent to family Child support Daycare Clothing/Shoes Laundry Charitable giving Entertainment Other personal expenses.Health: Health Insurance Co-pays Medicine Other health expenses.Transportation: Car loan payments car insurance car maintenance public transit costs gas parking/tolls Other transportation expenses.Food: Groceries Eating out Other food expenses.Housing: mortgage or rent Utilities (power, gas, water) Internet, cable, satellite Insurance Other (taxes, HELOC payments, etc.).Here are some ideas for expense line items and categories, in case you miss any: Skip a line after this category and move on to Food, following the same pattern. In the cells below this one, fill in different housing expenses that you have each month, like mortgage or rent payments, utilities, and insurance, using one cell for each expense. Start by skipping a line after your "Total Income" cell in column A and write in "Expenses." In the next cell down, write in "Housing." This is the largest expense for most people, so create space for this category of expenses first. guiding you through the different worksheets in more detail. ![]() Because of this, it's easiest to split your expenses up into general categories. The Budget Kit Excel Spreadsheet Package includes the most interactive personal budget worksheets from Part Two of The Budget Kit Book perfect for getting started or for stepping your personal budgeting system up to a new level: along with handy simple reminders and suggestions. Odds are that there will be considerably more individual line item expenses than there are income items. Next, you need to input expense in the same way that you put in income. Recheck it to make sure that it matches the formula above.įill in expense titles. Then work through the tabs in the worksheet linked above. Following these steps gives you a worksheet you can edit. If you receive an error message when entering the formula, this means that you have made an error in writing your formula. First, copy the Monthly Budget Income and Expenses Calculator (see above for the download link) described in How to Complete Monthly Budget Worksheets, above.Excel has many other functions that can be used to simplify calculations. The SUM function in excel adds up the value contained within the specific cells, which can either be input individually (B2, B3, B4) or in a range (B2:B4).The whole formula should look something like this: =SUM(B3:B4). Alternately, you can type in the cell range by typing the first and last cells, separated by a colon, into the SUM function. In the example, this would be cells B3 to B4. Then, click the cell to the right of "Net Pay" and drag down to the cell to right of your last income line item cell. In the cell directly to the right of that cell (B5 in the example), you need to create a formula to calculate total income. Create this cell in the next available cell underneath your last income line items (so, if you only have "Net Pay" and "Other Income," this will be cell A5). When you've created cells for all of your types of income, you'll need one that totals up your monthly income. What's more, Christmas and birthdays can be expensive times of the year but by planning ahead your finances will be sure to survive the fun.Īmazon stocks plenty of financial budget planners, whether you're after a weekly budget planner, or a monthly budget planner.Make a cell that calculates total monthly income. Whether you use a meal planner to cut down on grocery bills or use it to judge whether you have memberships that are not being used and could be cancelled. It's just about finding new ways of saving. MORE: 11 best diaries and planners for 2023: Get ready for an organised year Income Accounts, Select the income accounts you. RELATED: 15 genius money saving things to buy now to save you an absolute fortune long term The budget period can either be monthly, quarterly, half-yearly or yearly. Many people find a budget planner extremely useful when it comes to saving money during tricky times, and having a money budget book can help you feel more in control of your outgoings. As we move into 2023, our bills are about to get bigger and for many of us, the pressure to manage our finances is on. Times are tough right now, and the cost of living is becoming more of a struggle. ![]()
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