I found this tool very useful! Most Excel budget templates are boring. This on the other hand was great. I could quickly import my information! Check it out!
What Makes A Good Excel Budget Template
That's why you need the right resources and tools. If you’re wanting to create a budget the first thing you’ll need to do is find a good budget planner template. Now there’s a lot of these on the market, so you’ll notice if you go online you may find 100 different ones. This is why selecting the right one that is built just for you and for what your goals are is going to be key. Ourdebtfreelives has an personal budget planner template that allows you to enter your expenses. It also allows you to run different simulations to see what impact it will have on your budget. Try using the Excel Debt Snowball Calculator!
In addition it also helps you create a monthly budget with it's monthly budget template feature. Now this is very important if you’re trying to achieve financial freedom. So some of the categories that you may use for your budget may include: housing, transportation, and personal debt. Having the option to select a number of different categories is important. This is why you want a budget planner that allows you to change categories/sub-categories and also make any additional modifications to your income or your expenses. Next you’d want to make sure that your budget planner has a view where you can look at actual versus budget, and then a break down by category of your expenses. This will allow you to quickly go through and identify areas where you may be overspending or under spending. Then you can go through and make modifications to your original budget.
How To Use The Excel Budget Template
1. The allows you to enter nine different income sources now you can break those down by category which includes earned income, asset income, and portfolio income. Next you can go through and look at the sourcing name and you can change that to whatever you’d like in the preferences we have the option of changing your monthly income is fixed or actual which means you could put the actual income in each month or use whatever is currently 60 in their next we have monthly income break out and that can be broken out by either just categorize the other or income category
2. The monthly budget allows you to select up to five categories with each having up to six subcategories that will summarize your monthly budget giving you a total budget along with the total budget excluding savings
3. When entering actual expense data into the Excel budget planner template you’ll want to make sure that you pull each of the categories and step categories