![]() If you’re married, list out all the income for both of you.Make sure you write in regular paychecks and anything extra, like that side hustle money.Here are some quick callouts when it comes to this first step: This is the proven plan to get ahead with your money-from saving more to paying off debt to building real wealth.ĭo you see the Planned column at the top of your Quick-Start Budget template? That’s where you list out all the money that’s coming in this month. ![]() We’ve got three steps to set up that budget and two more to keep it going-each and every month.īefore you dive in, print out your Quick-Start Budget template and open up your online bank account!Īlso, heads up: We’re about to mention the Baby Steps a couple of times. You ready? (Yes, you are.)Ī budget template (or budget worksheet) is a great way to get everything on paper, right there in front of your eyes. There’s nothing like having clear directions to follow and step-by-step blanks to fill in to give you the confidence you need to get going on this budgeting journey. You know what can help? A budget template! Because a budget is a plan for your money-you tell it where to go, so you stop wondering where the heck it went.īut if you’ve never budgeted before, or it’s been a while, jumping in can be challenging. You may learn how to use Excel better in the process.No matter what you want to do with your money, it starts with a budget. ![]() If you use and customize any template for your personal budget, make sure you understand how it works and always double-check the formulas. The flexibility comes at the price of possibly deleting or messing up an important formula, or making bad assumptions. 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. 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. ![]() 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. 42 Effective Ways to Save Money Budgeting Tips for the New Year Why Use Excel for your Personal Budget?įirst reason: it's free. ![]()
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