How to Use Excel For Personal Budgeting?
Tim B asked:
I would like to have an Excel spreadsheet to budget my money and track my transactions. I have a checking account and credit card I would like to watch. I would like to enter in the date of the transaction, the name (i.e. place), a category, and the $ amount. In return I would like to be able to see how much I’ve spent total, how much in a category, how much at a specific place, how much each month, etc, etc. I’m pretty handy with Excel, so if you could share some formulas with me that would be great. I would also like to be able to use pie charts (i.e. to see how much money goes into which category) and line charts. Any help is greatly appreciated! Thanks!
Hannah Lewis
I would like to have an Excel spreadsheet to budget my money and track my transactions. I have a checking account and credit card I would like to watch. I would like to enter in the date of the transaction, the name (i.e. place), a category, and the $ amount. In return I would like to be able to see how much I’ve spent total, how much in a category, how much at a specific place, how much each month, etc, etc. I’m pretty handy with Excel, so if you could share some formulas with me that would be great. I would also like to be able to use pie charts (i.e. to see how much money goes into which category) and line charts. Any help is greatly appreciated! Thanks!
Hannah Lewis
You can start by dividing your budget in two categories, Income and Expenses. You will have to take care of the formulas. Here is a sample.
Cash Balance Forward (the starting cash in your account)
PayCheck
Other Deposits
Sut total Income
Expenses
Savings (15% of take home income)
Rent
Utility Bills
Transportation
Food
Consumer Debt
Miscellaneous
Subtotal Expenses
Total (Income – Expense)