You may learn how to use Excel better in the process. If you use and customize any template for your personal budget, make sure you understand how it works and always double-check the formulas. Click on the ‘ Make a Copy ‘ button it will get saved to your Google Drive account. You will be asked to make a copy of the template.
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Once you click on the ‘ Google Sheets ‘ button in the email you received the template will open in your browser. The flexibility comes at the price of possibly deleting or messing up an important formula, or making bad assumptions. In order to use the Google Sheets budgeting template, you will need a free Google account. In my opinion, the #1 problem associated with using a spreadsheet for your personal budget is the chance that you'll make errors. it's just a disclosure to say that I don't ONLY use Excel any more.Ī spreadsheet may not be the best budgeting solution for everybody. I started out using Excel to do everything, but I began using Quicken after a friend showed me how easy it was to keep track of checks and credit card charges and download transactions directly from my bank. A budget is almost useless without tracking what you are spending. For expense tracking, you could use my Income and Expense Worksheet, Checkbook Register, or the newer Money Manager. Tracking your income and spending comes both before and after making a budget. You have a variety of budget templates to choose from this list. For example, I like to use cell comments to explain certain budgeted items in more detail (such as the fact that in May, there is Mother's Day and a couple of birthdays to remember).Ĭreating a simple personal budget (even if it is only on paper) is one of the first steps to gaining control of your spending habits. Select your favorite budget template based on your needs and liking. The reason I use Excel when working with my home and business budgets is that it gives me complete flexibility to keep track of the information the way I want to. If you don't own Excel, then Google Sheets and OpenOffice are free options to consider. Microsoft Excel isn't free, but if you already own Excel, then you can create a budget without purchasing other budgeting software.
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Some of the options listed also present schemes for dealing with your loans, a multiple credit card payoff calculator, and recommendations for paying down other debt.42 Effective Ways to Save Money Budgeting Tips for the New Year Why Use Excel for your Personal Budget?įirst reason: it's free. All you need to do is download the template and plug in a few numbers-the spreadsheet will do all the math. With a template, you get a ready-made spreadsheet with the right formulas to do all of the calculating for you. Technically, these are spreadsheet templates that you can use with Microsoft Excel, OpenOffice Calc, or Google Sheets. One option on this list even walks you through how to choose a debt-payoff method by comparing the snowball method to the avalanche method and other strategies. The snowball method is a popular strategy, and downloading one of these debt-snowball spreadsheets can help you reduce your debt. But spreadsheets simplify the task, making it easy for anyone who can use a spreadsheet to make a plan to pay off debt. Choose an Easy-to-Use Budgeting Tool Putting a budget together requires a resource that helps you organize your finances. Coming up with a plan for paying off debt may sound difficult, especially if you don’t have a financial background.