1. In the third row of the sheet, leaving your first column blank, write the names of the month (you want to prepare budget for). For example, we are preparing a budget for first 6 months of the year. After mentioning all the months, mention Total in the next column to last month mentioned.
  1. Leaving first three rows blank, we will write all the incomes in column 1 of the sheet, to get something like this. (For constructing a Budget, let’s take an example that income of the person is Salary and Rent.)

  1. Now mention expenses in the same list below income, leaving one or two rows blank. For example, let expenses in this case be Grocery, Gas, Car expenses, Health Insurance. End product will be like this:
  1. Now Apply sum function in B7 and drag it till G7 (For sum of Salary and Rent). Same to be done in cell B14 and will be dragged till B14 (For sum of Grocery, Gas, Car Expenses, Health Insurance). (Drag function of Excel will apply the same formula to other cells till where it is dragged)

  1. Now enter data.

  1. Now apply sum formula to calculate total of all month. In our example we will apply sum formula in cell I6, totalling a range of B5:G5, same will be applied to I6, I7, I10, I11, I12, I13, I14.

  1. Add Short/Extra in next row. It is for calculating expected surplus or expected shortage. Computing Short/Extra is the one of the main purpose to prepare budget. Short/ Extra is difference of total of expense and total of Income.

Tips:

  • You can also use template for budgets provided by Microsoft itself.

How do I create a budget spreadsheet?

Creating a budget
  1. Step 1: Note your net income. The first step in creating a budget is to identify the amount of money you have coming in.
  2. Step 2: Track your spending.
  3. Step 3: Set your goals.
  4. Step 4: Make a plan.
  5. Step 5: Adjust your habits if necessary.
  6. Step 6: Keep checking in.

Does Excel have a budget template?

Microsoft Excel offers a variety of templates from which to choose, such as the household budget template. This template allows you to compare your expected expenses against your actual bills to record unforeseen spending each month.

What is a sample budget?

A sample budget is a budget from another family that you can look over to help you create your own budget. This isn’t something that is discussed often, even amongst friends, so it’s really hard to see specifics of how others spend their money.

What is the best Excel budget template?

The Best Budget Spreadsheets:
  • Tiller Money – $6.58 per month.
  • Vertex42 Spreadsheets – Free.
  • Mint Lifestyle Spreadsheet Templates – Free.
  • It’s Your Money!
  • Google Sheets Budget Template Gallery – Free.
  • PearBudget – Free trial.
  • It’s Your Money Deluxe Envelopes Excel System – $11.95.
  • You Need a Budget (YNAB) – Free trial.

What are the 5 steps to creating a budget?

What is the best budget template?

Here’s how to create a budget in five steps.

  1. Calculate your net income.
  2. List monthly expenses.
  3. Label fixed and variable expenses.
  4. Determine average monthly cost for each expense.
  5. Make adjustments.

What is the 50 20 30 budget rule?

What is the 70 20 10 Rule money?

Best budget templates and apps
  • Clever Girl Finance Free Budget Template.
  • Google Sheets Budgeting Templates.
  • Microsoft Excel Budget Template.
  • Personal Capital (App)
  • Mint (App)
  • You Need A Budget (App)
  • EveryDollar (App)

How do I make a 1000 a month budget?

The rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do. The remaining half should be split up between 20% savings and debt repayment and 30% to everything else that you might want.

What is the 60 30 10 rule budget?

The 70–20–10 Rule

For example, if you spend 75% of your income on living expenses, reduce the amount you put into your savings by 5%. If you want to put more money into your savings, you must reduce your living expenses and/or decrease your debt.

What is the 60 30 10 decorating rule?

How to live on $1,000 a month: Decrease your expenses and increase your income
  1. Look for areas to decrease your spending as much as possible.
  2. Focus on smaller areas if you can’t make major life changes.
  3. Find side hustles that you can commit to for 5-10 hours per week.

How do I stop living paycheck to paycheck?

60:30:10 is the New 80/20 Rule

Whether you know it as the Pareto Principle or the 80/20 Rule, the definition of this famous business rule simply states that, “20% of your priorities will give you 80% of your production IF you spend your time, energy, money and personnel on the top 20% of your priorities.”

How do I make a weekly budget?

What is the 60–30–10 Rule? It’s a classic decor rule that helps create a color palette for a space. It states that 60% of the room should be a dominant color, 30% should be the secondary color or texture and the last 10% should be an accent.