![]() ![]() They list many of the most common categories that people use for tracking income and expenses. ![]() These spreadsheets work in Excel, OpenOffice, and even Google Docs. At this point, I'd actually start by downloading the yearly personal budget spreadsheet or the family budget planner if you have family obligations. I can't do step 1 for you, but I can help with step 2. When you've gathered all the information, you need to group all your income and expenses into categories. ![]() Step 2: Group Income and Expenses into Categories Some people find it useful to carry a 3x5 card in a wallet or a small notepad in a purse to record every time cash is received or spent.ĭownload the Income and Expense template if you want a simple worksheet to help you track your expenses. It is easy for cash and coins to disappear quickly without realizing where it is going: vending machines, toll roads, tips, kids, etc. You need to know how much money you have and exactly where your money is going.įrom this point on, you need to ask for receipts and track the flow of your cash. Get out all your bank statements, credit card statements, receipts, and all your cash. After making a budget, you have to track your expenses in order to stick to your plan, so we are going to start by tracking expenses as well. It is difficult to make a budget or plan without having some information to base it on. Here we discuss creating a Family Budget Planner in Excel, an example, and a downloadable Excel template."A budget is a plan to help you live within your means" Step 1: Track your Income and Expenses In any organization or company, you can create the below-mentioned type of budget planner based on different criteria, which will give a complete picture of its financial activity and health. I created two conditional formatting rules to highlight cells lower than 0 and greater than 0, i.e., a complete net income row.Īt last, you can calculate yearly income, expenses & total money saved in that year with the help of the SUM function. Sometimes, if an expense is more than earnings or income, the negative value appears in the net income row therefore, we should apply conditional formatting to appear green in color, and negative values cells appear in red. Press Enter, so the result will be as shown below. Now, enter all the income & expense data in the respective cells.Īddition of Expenses by using the Sum FunctionĮnter the SUM function into cell E19, select cell E19, type an equal sign (=), and enter SUM (select the expense range for the month of Jan, i.e., E9: E17, close with a”) Simultaneously add total income and expense in cells A2 & A3 and net income OR savings in column A4. Excel automatically adds the other months. Then, select cell B1, click the cell’s lower right corner, and drag it across to cell M1. Enter the months, i.e., Jan, into cell B1. We can all add these categories in Excel you can enter the different income and expenses categories in column B. A health club (Annual or monthly memberships & spending).Study Loan (Taken during graduation or postgraduation studies).Gifts are given on any wedding or other occasions.Investments & super contributions (Stock market or mutual funds).Paying off debt if you have taken from someone.You should know or be aware of your monthly expenses or spending, which are categorized into various sections. Family benefit payments you have received prior (monthly or annual).Income from savings and investments made (monthly or annual).Bonuses/overtime worked & payout from the company (monthly).Your partner’s or spouse’s take-home pay (monthly).You Should Know or Be Aware of Your Monthly Income or Earnings The following criteria are kept in mind while creating a budget in the below-mentioned categories, I can add to create an Excel template of it. Suppose I want to create a family budget planner. ![]() You can download this Budget Excel Template here – Budget Excel Template Example of Family Budget Planner ![]()
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