Personal Budgeting in Excel Spreadsheet – Start Today
Personal budgeting in Excel Spreadsheet is one of the best tools that can help you reach your budget targets. It is an all-in-one package of budgeting tools to track expenses, balance bank accounts and establish a monthly budget. When you can follow this step by step guide on personal budgeting in Excel, you will definitely be amazed by its importance and power.
You have to make personal budgeting in Excel spreadsheet at different levels like simple or complicated. Here, I am going to talk about some basic steps that will help you get started with your personal budgeting in an Excel spreadsheet. You need to fill the Budget Analysis Worksheet. This worksheet is the first element of personal budgeting in an Excel spreadsheet.
When you fill the Budget Analysis Worksheet, you can see the information about the current month. The data includes all the monthly expenditure for personal expenditure. This includes all the taxes and expenses as well. You will also get the tax details for the same.
Now, you have to work on the Balance Sheet. The Balance Sheet is very important because it will tell you how much cash has been generated and withdrawn from your bank accounts. You will also get to know about the interest rates and total sales.
In this personal budgeting in Excel spreadsheet, you will also get the expense and income details. This information will help you in setting your monthly budget.
When you fill the Balance Sheet, you can see the four columns of Personal Budgeting. These columns include Sub-heading, Period, Function and Personal Purpose. Your personal purpose will define your future financial goals and the relevant period will set your income and expenditure for that purpose.
Sub-heading column gives the heading for the future period. So, the first sub-heading will be for the current year. Then, the next sub-heading will be for the following year. You will have to follow this for the whole fiscal year.
The functions column gives the name of the function and the budget line under the function name. Your Personal Purpose is directly linked to the Functions Line so that you can easily determine the role of each function and budget line in your personal budgeting in an Excel spreadsheet.
And, finally, you can see the Personal Purpose in your Personal Budgeting in Excel spreadsheet by clicking on the button titled Personal Purpose. This button will give you a list of your personal budgeting goals and then shows your Personal Purpose.
So, you can see that personal budgeting in Excel spreadsheet is very important. The power of this budgeting tool is in its simplicity and easy access.
So, now you can start personal budgeting in Excel spreadsheet for all the details about your finances and life. You will also be able to use a personal budgeting spreadsheet to track all your financial transactions and savings. PLEASE SEE : Personal Budget Worksheet Excel