![]() ![]() And we know you can do it! Advanced Excel Exercises with Solutions PDF, How to Make a Personal Monthly Budget in Excel (2 Smart Ways), How to Make a Personal Monthly Budget in Excel: 2 Smart Ways, 1. Because weve made our budget using a spreadsheet, its super easy to see where the family overspent and under earned. For calculating your expenses, you want to use the formula, =SUM(Planned Number-Actual Number) to calculate how much you overspent. Optionally, you can label this amount in the first column as well as the income and expense totals if you like. Your email address will not be published. The "B2:B8" is just what we use in this example. You can also delete sections you dont need. Some of them are described in the following section. Thats why you should check out thepremium version of EveryDollar, which gets you that paycheck planning feature we already mentioned and bank connectivity too! Thats why they call itlearningand notknowing. He holds two bachelor's degrees, is a licensed travel insurance agent in Indiana, and is the co-author of the book Zero Down Your Debt. Other expenses change month to month, like how much you spend on gas. A personal monthly budget is nothing more than a financial plan that features the incomes and expenses of an individual over a month. In my fictional example below, the budget is over by $115. Section F3 is your Actual column, and this represents the actual amount of money that hits the bank account hopefully more than you planned for. ![]() After entering our budget data we will calculate the total income of every month. Greg Johnson is the co-founder of Club Thrifty and an expert in personal finance, family travel, and credit card rewards. Check out the, For an idea of how much of your monthly income to spend and save, try our, If you want to go offline, read one of these expert-recommended, Or, if you need to back up and learn more about budgeting, read. Monthly Expenses to Include in Your Budget. What we like: You can bring your budget with you by logging in to your Google Drive account from your smartphone, tablet or computer. The Latest News on Student Loan Forgiveness. Steps to Make a Budget Pie Chart in Excel Step 1: Set Budget Categories Step 2: Enter Budget Amounts Step 3: Format Budget Table Step 4: Insert Pie Chart Step 5: Edit Budget Pie Chart Step 6: Design Budget Pie Chart Step 7: Finalise Budget Pie Chart Things to Remember Conclusion Related Articles Download Practice Workbook Read More: How to Do Budgeting and Forecasting in Excel (2 Suitable Ways). You can also visit our site for more Excel-related articles. Download the PDF and fill in the fields to see whether youre making more than you spend or spending more than you make. Followingly, consider all the possible income sources in a column (i.e. How-To Geek is where you turn when you want experts to explain technology. But, you can also include a certain amount in your monthly budget for fun and entertainment - a variable expense you certainly might want to track while attending college. Keeping track of your budget, whether for yourself or your entire household, is key to money management. Once you have this basic budget built, you can use Excels formatting features to spruce up the sheet if you like. The formula to add up each bill is: =SUM (B2:B8). Youll need a spot in the budget for that present. Check the box next to Create a copy to create a duplicate of the worksheet. ![]() You can also see worksheets specific to your situation, whether youre a college student, parent, homeowner, senior or none of those. For example, if I went with the family budget spreadsheet, I would get a premade spreadsheet with a Cash Flow chart on the first tab. Best Mint Alternatives Our Top Picks This Year. Is your washing machine on the fritz? Save yourself the hassle of setting up rows, columns and formulas by using a pre-made Excel template from Office. ![]()
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