![]() However, this is simply what works best for me, and I encourage you to try out some different options for yourself. Now, a lot of people prefer using apps to manage their budgets, and there are truly a ton of them out there. Other: School loans School expenses Credit card payments money put into savings Miscellaneous.We talk a lot about managing budgets here at TFD - Chelsea and I even made a video about it. Today, I’m going to go into more granular detail as to how one can actually create a monthly budget using my personal favorite method - Excel Sheets.Financing expenses: Credit card fees check cashing fees Bank fees Other fees.Personal/Family Expenses Money sent to family Child support Daycare Clothing/Shoes Laundry Charitable giving Entertainment Other personal expenses.Health: Health Insurance Co-pays Medicine Other health expenses.Transportation: Car loan payments car insurance car maintenance public transit costs gas parking/tolls Other transportation expenses.Food: Groceries Eating out Other food expenses.Housing: mortgage or rent Utilities (power, gas, water) Internet, cable, satellite Insurance Other (taxes, HELOC payments, etc.).Here are some ideas for expense line items and categories, in case you miss any: Skip a line after this category and move on to Food, following the same pattern. In the cells below this one, fill in different housing expenses that you have each month, like mortgage or rent payments, utilities, and insurance, using one cell for each expense. Start by skipping a line after your "Total Income" cell in column A and write in "Expenses." In the next cell down, write in "Housing." This is the largest expense for most people, so create space for this category of expenses first. Because of this, it's easiest to split your expenses up into general categories. Odds are that there will be considerably more individual line item expenses than there are income items. ![]() Next, you need to input expense in the same way that you put in income. Recheck it to make sure that it matches the formula above.įill in expense titles. ![]() If you receive an error message when entering the formula, this means that you have made an error in writing your formula. ![]() Excel has many other functions that can be used to simplify calculations.
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