How to Do a Personal Budgeting Spreadsheet
A Personal Budgeting Spreadsheet can be a great tool to track finances and personal spending. This spreadsheet can be customized for all your personal budgeting needs
- Difficulty:
- Moderately Easy
Instructions
Things You'll Need
- Personal Computer
- Internet capability
- Budgeting Software or excel spreadsheet program
- home printer
- Budgeting records
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1
First List all sources of personal income at the top of your budgeting spreadsheet.
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2
Next List all personal savings funds you are currently contributing to followed by ones you include in your budgeting spreadsheet.
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3
Third List all personal fixed expenses you are budgeting for in order of priority on your spreadsheet.
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4
Next list other variable expenses under Personal Needs and categorize according to necessity.
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5
Now choose your personal budgeting schedule such as monthly, bi weekly, etc. and divide up your bills and expenses to meet your payment needs.
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6
Include a category at the bottom of your budgeting spreadsheet called Personal Emergency Savings and set a goal to build 2 to 3 months income equivalent cash flow.
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7
Make two amount columns on your spreadsheet: 1. Personal budgeting goal amount 2. Actual personal spending amount
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8
Compare these expense amounts to make personal adjustments to balance your overall budgeting total at the bottom of your spreadsheet.
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1
Tips & Warnings
set realistic personal budgeting goals
write down all personal spending, account for everything
don't overestimate income and underestimate expenses
do not try to eliminate personal need items, rather include them and then try to cut back
