![]() ![]() Is a credit card account a spending account? If you are paying the balance off each month, then yes. Note again that this is meant to show how much cushion your spending account has. If you included your Retirement Fund in the cash balance, then it wouldn't make sense to include "Retirement Fund" as an Outflow. Why? Because we are treating transfers to these types of savings as Outflows from cash accounts. Do NOT include the balance in any of the categories listed under "Allocations" in the Outflows section. What is NOT a spending account? Your Retirement Fund, Emergency Fund, College Fund, etc. A checking account, your wallet, and/or savings account might be considered a "spending account" if money leaves your possession from that account (like paying bills from a savings account or paying a cab driver with money from your purse). The purpose of the beginning/ending cash balance section at the top of this spreadsheet is to show how much cushion you have in your spending account.įor the Beginning Balance, enter the sum of the amounts in your spending accounts on the chosen start date. Keep in mind that spreadsheets allow you to make more mistakes than software like Quicken, because spreadsheets use formulas and calculations that you may mess up by accident. If you want to use a free spreadsheet with the ability to enter transactions in account registers like you do in Quicken, you can try the Money Management Template. Quicken was my personal tool of choice when it comes to personal money management (before they switched to a subscription fee). It's mainly for people who don't already use Quicken (you can generate a report like this from Quicken very easily via the Reports menu).Īlthough there are some really cool things that can be done with Excel to make this worksheet more useful, I have intentionally kept this template simple. It includes a fairly comprehensive set of expense categories and was designed to be easy to understand and simple to customize. These templates will come in handy for you to form your budget and help you in saving a lot of time as well as in planning a proper budget.This worksheet was created to be used as an educational resource for personal finance classes. All the templates have been taken from reliable sources and are very easy to use. Monthly budget spreadsheets are useful in calculating your monthly budget. ![]() Using the simple template, you only have to double-check a single value at a time. It becomes difficult to double-check your entries if you enter multiple values in the calculator. If you have to make the calculations manually, you have to enter all the values of expenditure and income at the same time one after the other. This not only saves a lot of time but also reduces the possibility of error immensely. The biggest benefit is that the template does the calculations automatically by using inbuilt formulae in Excel instead of you having to do it manually. The sales Budget Templates have various benefits. ![]() Simple Monthly Budget Worksheet Templateĭownload Now What are the Benefits of Using the Excel Monthly Budget Templates? After this, the printable template automatically adds up your total income and subtracts it from your total expenditure to give you the amount left. ![]() This includes groceries, transportation, insurance, rent, etc. This total income includes fixed income as well as any extra income if applicable.Īfter this, you have to note the monthly expenditure of yourself or all the members of your family. The first thing you have to enter in these templates is the total income of either yourself if you are making a personal budget or all the earning members of the family in case you are making a household budget. How to Use the Excel Monthly Budget Templates?Įxcel Monthly Budget Templates are pretty straightforward to use. This is a very detailed Excel monthly budget template worksheet wherein you can calculate your personal monthly budget by writing about your different expenses and your total monthly income including any extra income. ![]()
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