How to Make a Budget on Excel

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By kateheho
User-Submitted Article

Article Rating: (25 Ratings)

Use Excel to organize your finances and it will help you live within your means.

Difficulty: Moderately Challenging

Instructions

Step 1

Decide on a list of categories to group your spending into. Example: rents, car payments, utilities, fixed expenses.
Step 2

In Excel, in cell A2 type the word "income". In Cell A3, type the list of expenses that you have created. At the end of that list, include a "me fund" category to be used for miscellaneous and discretionary expenses you incur each month.
Step 3

In the next open cell below your list of expenses, type the word "total"
In cell B1 type in the current month. In cell B2, next to the word "income" type in your monthly income.
Step 4

Next to each expense in column B, type in the amount of the expense for each category. Select the cell in column B next to the word "total." In the tool bar, press the autosum button (it looks like a sigma character)(next to the FX button.) Select all expenses in column B by dragging your cursor down the column. After you have done this, release the button and press the "enter" button. This will show the sum (total) of your expenses.
Step 5

Double click that cell. The word "sum" will display, followed by other characters. Between the = (equal) sign and the letter "S" in sum, type B2- (B2 plus the minus sign) and press "enter." The value that appears is your income minus your expenses.
Step 6

To add a month, highlight all numbers in column B, copy and paste it into the next column. Change the heading of the month to the next month, delete all the numbers in that column (aka column C) and add the values for that month's expenses and income. Repeat for each month. Again, the total at the bottom is your income minus your expenses.