How to Create a Simple Budget Using Excel 2007
Microsoft Excel 2007 is a common spreadsheet program that you may have on your computer if you have purchased a Windows based machine since 2007. One of the most useful features of Excel its its ability to store and organize simple financial data. A budget is a detailed list of expenses and income; Excel is an ideal program for creating a simple budget. There are many ways to set up a budget in Excel, but sometimes it is best to keep things simple to minimize the clutter and work that goes into making the budget.
Other People Are Reading
Instructions
-
-
1
Open Excel, double click the tab called "Sheet 1" and change the name to "Expenses." All of your expenses will be listed in this first Expense worksheet.
-
2
Click cell A1 and type "Date," press tab and type "Expense Name," press tab and type "Amount ($)" and press tab one more time and type "Notes." These four headings will now be the titles of the first four columns.
-
-
3
For every expense you have, record the date of the expense in the "Date" column, a description of the expense in the "Expense Name" column, how much you spent in the "Amount ($)" column and include any notes about the expense that are relevant in the final column.
-
4
Double-click on the second worksheet tab called "Sheet 2," and change the name to "Income."
-
5
Click on cell A1 and type "Date," press tab and type "Income Name," press tab and type "Amount ($)" and finally press tab once more and type "Notes."
-
6
Record any income you take in on this worksheet, noting the date of the payment, a description of the income, the amount and any notes about the income in the appropriate columns.
-
1
Tips & Warnings
You can quickly add all of your expenses or income by selecting all the cells under "Amount ($)" and clicking the "Auto Sum" button.
You may wish to leave a blank row between entries of different months for organizational purposes.
You can auto sum both your expenses and income and then subtract the total amount of expenses from income to see how much money you have left over after expenses.
Many websites have more detailed budget templates for Excel that can be downloaded for personal use.
References
Resources
- Photo Credit still life with calculator image by Astroid from Fotolia.com
