setting up an excel spreadsheet for personal budget

#SETTING UP AN EXCEL SPREADSHEET FOR PERSONAL BUDGET HOW TO#
#SETTING UP AN EXCEL SPREADSHEET FOR PERSONAL BUDGET FREE#

The dashboard provides a summary of the various expenses and savings. The report provides a summary of the personal budget based on the Income pie chart, Expenses bar graph, annual expense distribution pie chart, and income expense, and savings chart. About the spreadsheets: Add and delete columns as you please Formulas are already set up e.g. The dashboard’s worksheet makes the budget easier to comprehend and analyze with the help of graphs and charts. It may seem like a lot of spreadsheets but it’s so much less stressful with everything organized and color-coded in the one place for quick reference. What does the Personal Budget Dashboards worksheet do? The value will be achieved if the savings goals have been attained. The ideal value is 0 (zero), which indicates that any increases in the income or decreases in expenses are automatically allocated towards savings. The potential to save is the amount of money a person can save in a month either by an increased income or a decreased spending. What does the 'Potential to Save' value mean? The following groups are reflected in this chart: The line chart depicts the status of the various categories, such as income and expenses for each month relative to the previous month. The chart enables you to determine categories with most and least expenditures, which can help you to analyze your budget farther and possibly identify some categories with partly or altogether avoidable expenses. This pie chart shows the percentage share of the summarized expenses incurred throughout the year. The Annual - Expense and Distribution Pie.The same data is also used in the doughnut charts, which shows the share of each expense category. The bar chart is a representation of the monthly expenses by category. The chart makes it easy to interpret the income source with the largest and smallest shares. The Income pie chart reflects the share of each source of the income, which you receive. The Dashboards worksheet shows a summary of your personal budget in four different charts.

This value is calculated both on a monthly and annual bases. Potential savings made by an individual are calculated by simple subtraction of the sum of the Total Savings Goal and the Total Expenses from the Total Income. It also helps with making better savings and expenditures decisions. The monthly analysis helps to obtain a projected image of the overall savings targets that individuals aim to achieve and the amounts they can potentially allocate towards their savings. The net value of the savings goal is calculated monthly, as well as on the basis of an aggregated annual amount of savings. The savings goal can be a single goal or a set of projected goals.

The worksheet also includes a savings goal set for each month that one should aim to achieve through successful budgeting. There are various sources of income included by default in this template: Then compare that to your net income and priorities. Use the variable and fixed expenses you compiled to get a sense of what you’ll spend in the coming months. The first worksheet is the personal budget worksheet that will hold the details of the possible sources of income, as well as amounts received through each of the sources. This is where everything comes together: What you’re actually spending vs.

#SETTING UP AN EXCEL SPREADSHEET FOR PERSONAL BUDGET HOW TO#

You do not need to be an advance user of Microsoft Excel as we will show you how to use templates that are provided in the program and simple formulas to create a budget for any reason.Start by downloading the template and recording into the spreadsheet your income, followed by expenses. We will also use basic graphing for presenting budget tracking. It will allow you to scale budgeting and to make record keeping and tracking of expenditures easier. By utilizing Microsoft Excel you will reduce the burden of budgeting and see increase in accuracy. We will learn to create a budget both automatically and manually, step by step. While a budget helps you stay within estimated costs and expenses for either a business or a family.

It consists of individual cells that can be used to build functions, formulas, tables, and graphs that easily organize and analyze large amounts of information and data.

#SETTING UP AN EXCEL SPREADSHEET FOR PERSONAL BUDGET FREE#

By the end of this project, you will learn how to create a budget template in an Excel Spreadsheet by using a free version of Microsoft Office Excel.Įxcel is a spreadsheet that is similar in layout as accounting spreadsheets.

Setting up an excel spreadsheet for personal budget