How to Use Excel Templates to Budget Monthly Household Bills

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By jenstewart
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excel templates to budget bills

Excel templates are a great way to budget monthly bills and manage household finances. These excel templates are versatile budget tools that can be customized to pay household bills monthly or to suit your financial schedule.

Difficulty: Moderate

Instructions

Things You'll Need:

Computer
Internet
Microsoft Excel Program
Paper
Records of budget bills

Step 1

First, open a new spreadsheet in your Microsoft Excel program. You can download a spreadsheet sample template to refer to or create one yourself.
Step 2

Second, make 5 column headings across the top of your excel budget templates. List the types of household bills, monthly due date, estimated budget amount, actual amount of bills, and financial difference.
Step 3

Third, list all your monthly household bills by priority and due date on a sheet of paper separate from your excel templates.
Step 4

Next, group your monthly bills into categories like must pay or fixed debt, household budget needs, personal finance needs, expense allowance, and emergency.
Step 5

Then enter your budget categories into the left column of your excel templates including a category for monthly household totals at the bottom.
Step 6

Include a household budget category for credit card bills with the highest interest rates with the smallest amounts owed first.
Step 7

To determine your budget start by entering the estimated amounts for monthly bills for each household item on your excel template.
Step 8

Next total these amounts under each budget column at the enter them at the bottom of your excel templates.
Step 9

Subtract this total from your monthly household income to determine amount left over to pay down credit bills, save for financial hardship, or budget for long term savings.

Comments

recessiontips said

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on 7/13/2009 Thanks for the information. I use Excel templates to manage my budget too. But instead of making one myself, I use a commercial template. This one is inexpensive and works great for my needs:
http://www.spreadsheetstore.com/p-25-monthly-home-budget-worksheet-for-excel.aspx

Thanks much for the great post.