How to Create a Personal Budget in Excel

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The most basic tool of personal finance is your budget. Creating a personal budget will give you an accurate picture of your financial standing, and will help you to make the responsible decisions needed to reduce your debt and live within your means. In just a few steps, you can easily create a personal budget with Excel. A personal budget is a powerful tool that can provide you with the clarity and organization needed to help you gain control of your finances.

Things You'll Need

  • Computer
  • Microsoft Excel
  • Internet access
  • Go to Microsoft’s official site online for downloading Office templates.

  • Go to the “Collections” section in the left column, and click “Finance and accounting.”

  • In the middle column of the page, go to the section “Personal Finance.” Click “Personal and family budgets.”

  • Browse through the personal budget templates, and find one whose design, layout and organization suit your life and needs.

  • Click the title of your chosen template, and select the “Download” button. Click “Accept” to consent to Microsoft’s service agreement and to begin the download.

  • Open your downloaded template with Microsoft Excel. Adjust and customize the categories to reflect your income and expenses. Input data to create your personal budget.

Tips & Warnings

  • Use all of Excel’s handy tools to manage your data. Adjust font style or colors depending on what type of data it you are entering. Use calculation formulas to automatically manage numbers for you.
  • The more detailed and precise your budget is, the better it will help you to manage your money. Be honest and input as much data as you can about your expenses and spending habits. This will help to give you a clearer picture of what you need to do in order to balance your budget.
  • Photo Credit cjohnson
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