Basic living expenses need to be maintained for a reasonable quality of life, which can be attained by most people if they manage their finances correctly. Just think of it as a map to follow the money.Money, without a doubt, is necessary. No doubt, being diligent and updating your chosen budgeting tool takes time and effort, but it pays off. Wirecutter, a product review site owned by The New York Times, has a roundup of budgeting apps and tools to recommend, like the YNAB (You Need a Budget) service ($84 a year, but with a free trial period available) and others are also reviewed. If using a simple spreadsheet to record your monthly budget inspires you to keep tracking it over the year - or take even more control - you can move up to a dedicated tool that shows spending trends, provides financial coaching and offers tips. Step 5: Keep going or move up to a specialized app
Some templates even include charts to help you better visualize your situation. Second, most spreadsheet templates give you added totals in your columns for income and expenses, so you can see your cash flow in action. First, you have a line-by-line accounting of your finances for the month. Once you have all your numbers punched into the spreadsheet, you can see two things. Add in monthly expenses, like phone, credit card and power bills car loans gas, insurance, rent and mortgage costs gym fees restaurant meals and shopping sprees. Along with your salary, your pay stub should show the money taken out for things like taxes, retirement savings and health insurance. Gather up pay stubs, bills, statements and any other forms that show what you made or spent that month.Įnter the information into the designated place. Once you open a template, you’ll see the boxes (called “cells” in spreadsheet lingo) to fill in your own numbers.
Online video tutorials and software guides can also help you build your own spreadsheets. The Measure of a Plan personal finance site also has a detailed budget-tracking template that works in Microsoft Excel and Google Sheets. Select the template that best matches your needs, like “Monthly Home Budget,” to create a new spreadsheet.ĭon’t see a template that suits you? With a quick search, you can find plenty more to download online, like the selection at, which has specialized templates for those aiming for early retirement or for recent college graduates.
Open your program of choice and look for the “Template” or “Project” gallery.
0 kommentar(er)
