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. Next, you should plan your savings for different purposes based on your income and expenses. The total income will automatically be calculated and displayed in cell F7 – $6350. If you have your own business but the income is not constant, you can take an average of your past 6 months and enter that amount.įor example, you can enter a salary income in cell F4 – $5,000, extra income from part-time jobs in cell F5 – $850, and income from investments in cell F6- $500. Let’s look into each of these steps one-by-one!ĭownload this Excel workbook and follow this tutorial on how to make a budget spreadsheet in Excel:īegin using this template by entering the different sources of your monthly income.įor a person with a salary, simply enter your monthly salary (post-tax) and income from other part-time jobs or passive income streams. See also Fix Incorrect Formatting Using Flash Fill In Excel
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