What Is an Excel Template for Personal Budget?Īn Excel template for personal budget is essentially a spreadsheet file. Continue reading to learn how these spreadsheet templates will help you save more through smart budgeting. This article rounds up the 15 best free Excel templates that are also free to download. However, managing personal finance or budget could be tricky when you have many things to take care of at work and home. Managing personal budget and finances are the necessary actions that help you save money. Use the results button to calculate your current situation in my free budget calculator.If you need an efficient and easy-to-use Excel template for personal budget or personal finance, you have come to the right place. Once you enter all of your financial information, it’s time to see how you are doing and where you could improve. Again, because personal finance should be personal, this section is for all of those uncommon expenses that you and your family spend each month. Last but not least is the miscellaneous expense section. However much you could put towards your specific debts, be sure to include them in this budget calculator. Hopefully, you were able to pay more than the minimum payments on your debt last month. Be sure to count all of your costs related to your children. I had no idea how expensive kids were – until we had them. Medical (co-pays and other expenses not covered by health insurance).Look at your last month of expenses and fill in the information. These expenses often fluctuate from month to month. While we have cut back on restaurant dining, we are still scaling back the amount we spend on daily groceries. It always seems we spend much more on food with a family of five than we really should. These areas will help you genuienly identify how much you are spending on transportation and where.įull disclosure: I have always struggled with my grocery budget. Many of us spend more on our vehicles than we really need. Be sure to look through previous monthly expenses to identify how much you spent on: While housing and utilities are necessities, it doesn’t necessarily mean there are not areas in which we can save money and free up some funds. **For annual expenses, divide the total cost by 12 to factor it into a monthly plan. After we fill out the monthly budget calculator, we can identify areas to cut back and start saving. During this process, it is crucial to uncover everywhere you spent money. Focus on separating what your living expenses include as well as your discretionary spending. To identify your monthly expenses, look over your financial statements from the previous month. Household Budget – Total Monthly Expenses Entering your amounts into this cost calculator will automatically total your amounts. Use the “+” buttons to expand each category. Your budget will always start with your total monthly income after taxes. The first section of this free budget calculator requires you to enter your after-tax monthly pay, as well as any extra income you expect to receive.Įxtra income may include side hustles or off duty jobs you currently do. The first step is to calculate your total monthly income. This plan requires you to use a monthly strategy rather than an annual net income budget. Knowing how much money is coming in each month and exactly where it goes is something everyone needs to do to ensure their money is going towards things that bring them value. Jump Down To The Monthly Budget Calculator How Do You Calculate A Monthly Budget?Ī budget is the first step in any successful money management plan.
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