Next 1 4 – Track Your Expenses And Finances

Do you want to track your income and expenses incurred regularly?

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The Personal Budget Spreadsheet helps with tracking, managing and calculating your income, expenses, and savings. The first sheet is a Personal Budget sheet that holds records of income, expenditure and savings details of an individual on a monthly basis. This template includes most of the heads of expense. We highly recommend keeping this sheet updated regularly for a real insight at all times. The spreadsheet helps you with setting some savings goal as well. The monthly breakdown helps you in analyzing the months that you saved more and the ones on which you spent more. You can easily track different kinds of expenses incurred under categories, such as home, daily living, transportation, etc. The sheet also gives the Potential To Save value for each month.

Do you want to track your income and expenses incurred regularly? The Personal Budget Spreadsheet helps with tracking, managing and calculating your income, expenses, and savings. The first sheet is a Personal Budget sheet that holds records of income, expenditure and savings details of an individual on a monthly basis. The operating expense ratio (OER) will give you the power to understand the operational efficiency of your business by comparing your operating expenses to your overall revenue. This is the best graph to show profit and loss, but you do need to connect with other charts to create a proper financial data-story. Follow your plan by keeping track of your spending throughout the month. Each time you spend money, create a transaction and track it to your budget. Connect your bank for faster expense tracking and easier budgeting with EveryDollar Plus. Mac mini mid 2011 catalina. Chief among them is that the best, most critical first step you can take to improve your finances is to track your spending. If you think about it for 30 seconds, it makes perfect sense.


The second sheet is Dashboards sheet that provides the summarized data of the Personal Budget sheet graphically. The income and annual expense are represented as pie charts that give an easy to understand distribution view of the budget. There are bar chart and doughnut chart that represent a monthly distribution of the expenses under various heads. It also has an income, expenditure, and savings line chart.

Personal Budget Spreadsheet

for Excel® 2003+ & OpenOffice
1
234
Requirements
Microsoft Excel® 2003 or Higher (PC & Mac)
Installation
Not Required
License
User License Agreement

Creating Your Personal Budget

Start by downloading the template and recording your income followed by expenses into the spreadsheet. 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. The various sources of income included by default are:

  • Salary / Wages
  • Business
  • Pension
  • Interest / Dividends
  • Miscellaneous

The worksheet also includes a savings goal set for each month that one should aim to achieve through successful budgeting. The savings goal can be a single goal or a set of projected goals. The net value of the savings goal is calculated on a monthly basis as well as an aggregated annual amount of savings. The monthly analysis help in obtaining a projected image of the overall saving targets that individuals aim to achieve and the amounts that they can potentially allocate towards their savings. It also helps with making better decisions regarding your savings and expenditures.

  • Home
  • Daily Living
  • Transportation
  • Entertainment
  • Health
  • Holidays
  • Recreation
  • Subscriptions
  • Personal
  • Financial Obligations
  • Miscellaneous Payments

The 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. This value is calculated both on a monthly as well as annual basis.

The Dashboards worksheet shows the summary of your personal budget in four different charts. This four distributions are:

  • Income
    The Income pie chart shows the share of each source of the income, which you receive. The chart helps to easily interpret the income source with the largest and smallest share.
  • Expenses
    The bar chart representation of the monthly expenses by category. The same data is also used in the doughnut charts, which shows the share of each expense category.
  • The Annual - Expense and Distribution Pie
    This pie chart shows the percentage share of the summarised expenses incurred throughout the year. The chart helps to determine categories with most and least expenditures, which can help you to analyze your budget farther and possibly identify some categories with expenses that can be avoided partly or altogether.
  • The Income - Expense and Savings Chart
    The line chart depicts the status of the various categories like income, expenses for each month relative to the previous month. The groups that showcased in the chart are:
    • Income
    • Expenses
    • Potential to Save
    • Savings Goal

What does the 'Potential to Save' value mean?

The potential to save is the amount of money that a person can save in a month by either higher income or decrease in spendings. The ideal value is 0 (zero), which indicated that any increases in the income or decreases in expenses are automatically allocated towards savings. This value would be achieved if the savings goals have been attained.

What does the Personal Budget Dashboards worksheet do?

The dashboards worksheet makes the budget easier to comprehend and analyze with the help of graphs and charts. The report provides a summary of the personal budget on the basis of the Income pie chart, Expenses bar graph, annual expense distribution pie chart, and income expense, and savings chart. The dashboard provides a summary of the various expenses and savings. It helps to analyze your budget as well as making the decisions regarding the improvement in the income, savings and reduction of the unnecessary expenses.

Function used in template

Finances
  • SUM(number1, [number2], [number3], [number4], ..)

If you are responsibly managing your finances, odds are that you are keeping track of your expenses in one way or another. Are you using the best option available? This is a great question to ask; one which I hope to explore in this article.

What’s the Best Way to Track Expenses?

Expense Journal

It was just a few months ago that I was taking a trip out west with some friends from college. One of my good friends pulled out his small notebook with receipts and started writing down the expenses from the last two days in his notebook.

I was quite surprised to say the least. Not because he doesn’t strike me as financially responsible – he does indeed. What surprised me was his dedication and how much work was involved in his method of keeping track of his finances. At the same point, who can blame him.

10000 software free download. Keeping track of your expenses by writing them down in a journal or notebook has been a viable and responsible way of keeping track of your expenses for a long time. The benefits are obvious: you are not only able to keep track of every expense, but can (at any time in the month) know how much you have spent that month.

If you are using this method, you most likely keep a rough running total of how much you have already spent in your head. The only down side to this approach is that it is possible to forget to write something down. Play family guy online. If you forget your journal when you go out to eat, will you remember to write down the expenses when you return home?

Credit Card Statements

Another viable option is to use the credit card statements each month to calculate how much you spend. This is a great way to minimize that time spent on keeping track of expenses throughout the month.

You can easily figure out how much you spent on different categories with an hour or two of calculations each month. This allows you to also reap the benefits of credit cards. For example, the many credit cards offer great rewards (5% off rotating categories throughout the year) and has no annual fee.

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Someone buying the same items with cash would be losing out on the opportunity of this 5%. The only downside to this approach to track your expenses is that you can often lose track of how much you have already spent in the month. However, if you are disciplined enough, it can be worth it.

The other thing to keep in mind is that your credit card statement could have mistakes, so you need to be able to determine whether it is accurate based on your memory. If you have a horrible memory, this probably isn’t the method for you without some extra measure to double check the accuracy of your statement.

Receipts

I know of several people that are receipt freaks! They get a receipt at every place they go and keep every single one. At the end of each month, they use these to figure out how much they spent for the month.

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This gets rid of the risk that accompanies using just credit card statements and also keeps them from having to write the expenses in a journal. The downside to this method is that it requires keeping track of all those receipts.

You can easily create a system to file these, but some of the receipts fade over time. There are also instances where it is impossible to get a receipt.

Best Way to Track Spending: Online Services

The last major option available to keep track of your all your expenses is to use an online service that does it all for you. An example of this is Personal Capital. https://aaufv.over-blog.com/2021/02/google-chrome-para-pc-32-bits.html.

These services bring in all of your electronic expenses and are able to produce user-friendly services like pie charts. This gets rid of all the necessary calculations or receipt-keeping. In this day and age, something like Personal Capital seems to make a lot of sense. One of the best things that I like about Personal Capital is that it is absolutely free and they plan to keep it that way.

Expenses

Next 1 4 – Track Your Expenses And Finances Act

Within seconds of logging into your personal capital account, you can quickly see your spending and income over the past 30 days. (Personal Capital is also a great free tool of keeping an eye on your investment portfolio.)

What do you think? Are you willing to give up the security or tradition of the more traditional ways of tracking your expenses each month? How do you track your expenses?

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