setting up monthly money expense spreadsheet

#Setting up monthly money expense spreadsheet update

Financial experts typically recommend setting about 10 percent of your post-tax income aside for your savings, although the more you can put away the better. It’s a good idea to put some money aside every month – no matter how little – towards your savings account. These may include property tax payments, entertainment, groceries, and so on. Variable expenses, on the other hand, are those that either only pop up every few months, or fluctuate in cost month to month. These expenses remain relatively constant month after month. Your fixed expenses would include things such as your mortgage, car payments, student loans, and so forth. Not including these deductions will cause you to have an inflated idea of what your take-home income is, which will put you in the red.ĭocument Your Expenses, Both Fixed and Variable You’ll also have to deduct factors such as income tax, pension plan contributions, and other things that would be docked from your pay. This number is not just your annual salary divided by 12 months. The first thing you’ll need to get a grasp of is how much money you’re actually bringing in every month.

Here are some tips to creating a practical monthly budget to help you keep your finances in check. Having a working budget in place will help you identify exactly where you stand with your finances.

Yet creating a budget is a necessary part of adulthood, and is essentially the first step towards financial stability. It’s not fun, glamorous, or even enjoyable.

#Setting up monthly money expense spreadsheet update

Update : I've added a Help worksheet that provides examples transactions for things like transfers between accounts, credit card payments, split transactions, allocations to savings, and budgeting for future expenses like quarterly insurance or tax payments.Click below for the free budget template that matches your lifestyle

Then update the time period, clear out the transactions, and update the carry over balances. To track your budget for the next week, you would make a copy of the worksheet tab. The goal for this weekly money manager was to simplify the customization of categories while maintaining the power of listing Transactions for multiple accounts. I created this template as a cross between my monthly budget template and the more powerful money management template. That allows you to plan either a year ahead for a bi-weekly budget or 6 months ahead for a weekly budget. That type of change is a bit more difficult, so I created a new Weekly version of the Family Budget Planner that includes 26 columns. But, for a weekly budget you'd likely want more than just 12 columns. It's possible to just change the labels in the family budget planner to week numbers instead of months. That's where the new weekly budget planner comes in. Spreadsheets like my personal budget and family budget planners can be helpful for listing expenses in the month that they will occur. Most people have both fixed and variable expenses.

You can make copies of the worksheets, as new tabs in your workbook, to create budgets for more than one week. You can convert the following budget templates to weekly versions by simply changing the title of the template: 'weekly' is the label at the top of the worksheet. Solution 1: Converting a Monthly Budget to a Weekly Budgetįor some budget templates, the only thing that makes them 'monthly' vs. So, below are 3 solutions for the weekly budgeter. Most of the people asking for weekly budget solutions are wanting to match their budget to the frequency of their paycheck. My personal preference is still to budget monthly and update weekly, but that might be because my income is monthly. After getting multiple requests for weekly and bi-weekly versions of my budget templates, I decided to create a couple new weekly budget spreadsheets.