I personalized it more by adding in extra columns to reflect my bi-weekly pay dates. I’ve used several others since, but I think I’m going back to this one it really is the best. This spreadsheet is very similar to one I used a few years ago. Little reviews and updates can add up to big changes. Step 5: Repeat, Revisit, Review!Ĭheck in with your spending, earning, and debt reduction. By facing the hard stuff and making changes you’ll turn your money around, rather than turning your back on your money. Step 4: Turn it around!įacing the numbers and looking for ways to cut spending, increase income, or changing spending habits can be a messy uncomfortable process. Wherever you spend, however much you owe, whatever you save - Your monthly totals are not your self worth, it’s your starting line. Family: Childcare, allowance, activities, books, toys.Routine Expenses: Groceries, clothing, personal.Enjoyment: Gifts, holiday, pets, entertainment, restaurants, hobbies.Financial: Bank fees, interest payments, debt repayment, savings accounts.Medical: Prescriptions, dental, health insurance.Utilities: Streaming, internet, phone, electricity, water.Transportation: Car, transit, fuel, maintenance, bicycle.Home Expenses: Rent, mortgage, insurance, maintenance, property taxes.Income: Salary, bonuses, investments, spousal income.Fill in the blanks and account for your cash. Grab your receipts, sort your bills, and check your bank accounts. But getting past the feels can lead to greater money confidence and increased financial independence. Feeling overwhelmed and stressed is normal. Add it up: Tally your monthly expenses.It can help you to analyze your budget and make important decisions on augmenting the income and savings, and reducting the unnecessary expenses. The dashboard provides a summary of the various expenses and savings. The report provides a summary of the personal budget based on the Income pie chart, Expenses bar graph, annual expense distribution pie chart, and income expense, and savings chart. The dashboard’s worksheet makes the budget easier to comprehend and analyze with the help of graphs and charts. What does the Personal Budget Dashboards worksheet do? The value will be achieved if the savings goals have been attained. The ideal value is 0 (zero), which indicates that any increases in the income or decreases in expenses are automatically allocated towards savings. The potential to save is the amount of money a person can save in a month either by an increased income or a decreased spending. What does the "Potential to Save" value mean? The following groups are reflected in this chart: The line chart depicts the status of the various categories, such as income and expenses for each month relative to the previous month. The chart enables you to determine categories with most and least expenditures, which can help you to analyze your budget farther and possibly identify some categories with partly or altogether avoidable expenses. This pie chart shows the percentage share of the summarized expenses incurred throughout the year. The Annual - Expense and Distribution Pie.The same data is also used in the doughnut charts, which shows the share of each expense category. The bar chart is a representation of the monthly expenses by category. ![]() The chart makes it easy to interpret the income source with the largest and smallest shares. The Income pie chart reflects the share of each source of the income, which you receive. The Dashboards worksheet shows a summary of your personal budget in four different charts. This value is calculated both on a monthly and annual bases. Potential savings made by an individual are calculated by simple subtraction of the sum of the Total Savings Goal and the Total Expenses from the Total Income. It also helps with making better savings and expenditures decisions. ![]() The monthly analysis helps to obtain a projected image of the overall savings targets that individuals aim to achieve and the amounts they can potentially allocate towards their savings. The net value of the savings goal is calculated monthly, as well as on the basis of an aggregated annual amount of savings. The savings goal can be a single goal or a set of projected goals. The worksheet also includes a savings goal set for each month that one should aim to achieve through successful budgeting. There are various sources of income included by default in this template: The first worksheet is the personal budget worksheet that will hold the details of the possible sources of income, as well as amounts received through each of the sources. Start by downloading the template and recording into the spreadsheet your income, followed by expenses.
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