That’s it! Your monthly budget spreadsheet is prepared.īut, you need to remember that this is a continuous process and you need to make necessary additions and revisions as and when required.Įxcel is the go-to tool for planning and tracking your personal and business finances. In the end, all you need to do is repeat the same process each month and take into consideration any new savings goals or expenditures you may encounter in the future. NET INCOME, after taking into account your savings goal and monthly expenditure. It will provide you with the amount you are left with i.e. Once all these values have been entered, your summary table will be ready too! The best practice would be to put in place money for these expenses so that you are prepared for it.Įnter amounts for each of these expenses.Įxcel will automatically calculate the percentage allocation for the expenses categories and the TOTAL monthly expenses as well. In the Expenses section, there are different categories mentioned like home, food, health, transportation, debt, entertainment, personal care, etc. The next step would be to list down where you spend your money each month. The amount in dollar terms for each Saving & Investment and the TOTAL savings amount will be automatically calculated in Excel. Enter the percentage of your income you want to save. You need to determine the amount you wish to put aside for different milestones in the future.
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