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Excel plan a budget workbook1/7/2023 ![]() The sum total for column D should read 3,911.44. You should be able to copy and paste C9 into D9, but if that doesn’t work in your Excel version, simply repeat the process above for D9. If you used the same numbers as my screenshots, you’ll see the number 4,000. Hit enter again, and now you’ll see the sum total of column C pop into cell C9. The formula builder will show that you are summing cells C4:C8. That will place the formula “ =SUM( )” into cell C9 of your Excel budget. Now double click on the “SUM” formula in the formula builder box. When you click that symbol, the formula builder will pop up on your screen. Then click on the “fx” button at the top. Add Formulas to Automate Your SpreadsheetĬlick on the cell you’d like to add your formula to. Plus I added a row for totals at the bottom.ģ. I went ahead and added some sample data below my column headers. You can center the headings to make the columns look neater if you like. In the next columns, add the following headers. Make sure to bold the text for the column headers. Write the words “Income Source.” This column will represent where you got your income from, such as your paycheck, a side hustle or an investment dividend. To do this, you can either double click the “Blank Workbook” icon, which will be the top left template, or go up to “File” and click “New.” To begin, open up your Excel and start with a new blank document. But if you’re looking for something a bit more custom, let’s talk about how to build a budget in Excel from scratch.Ĭreating from Scratch 1. ![]() If you’re a true Excel beginner, this is probably the way to go. When you work with an Excel template, that’s really all there is to making a budget. Voila! A new row has been inserted, and now you can type in “Cleaning service,” add the date if you so desire, and place the appropriate amount budgeted for the line item. Select “Insert” from the list of options that appears. Next, click on the same row number to highlight it, then right-click on the highlighted portion. Then simply right-click on the highlighted row and click “delete.” Poof, it’s gone from your Excel budget. There are two ways you can do this, and both of them are quick.įirst, highlight the row that says “Student loans” by clicking on the row number. I get it I don’t like to clean my house either. However, you want to budget $75 per month for the cleaning service that comes to your house. For example, let’s say you’ve paid off your student loans and you no longer have that expense. Of course, you can also customize the various rows in this budget by inserting or deleting line items. Instead, click the sheet titles along the bottom of the Excel sheet and update the numbers on those sheets.) As you add in those numbers, you’ll see the formulas under the “Summary” section of the spreadsheet change based on your entries. (If your template opened on a page labeled “Summary,” with the other lists missing, do not edit the numbers on that first sheet. So don’t do that.Īdjust the numbers in your Excel budget under monthly income, monthly expenses and monthly savings to reflect your actual situation. It is important not to mess with the formulas, otherwise you will break the spreadsheet. You’ll see an Excel sheet pop up that includes graphs, summaries and various line items.Ĥ. Let’s say you want to set up a personal budget. These will include templates like “Manage My Money,” “Personal Budget,” “Family Budget,” “Household Budget” and a whole lot more.ģ. Move your mouse to the search bar that says “Search all templates” and type “budget.” When you do, various budget templates will pop up in your application window. Scroll up to “File,” and click “New.” A window will pop up, and you’ll see various premade templates.Ģ. However, these instructions should work across all releases. Keep in mind that your version of Excel may look a bit different than mine as I post screenshots below. Go ahead and open up your Excel application. ![]() Let’s start with Excel’s custom budget templates. ![]() We’ll go over how to create a budget worksheet from scratch later. On the other hand, many of Excel’s templates are clunky and now outdated. If you use a custom template, you already have a structure to work off of, which can make life considerably easier. The first decision you need to make when creating a budget in Excel is whether you want to use an Excel template or build your own budget from scratch. Once you get the hang of it, you’ll see that creating a budget makes a big difference in organizing your financial life. I will teach you how to make a budget in Excel, and it’s honestly simple. However, Excel can be overwhelming and complicated. While there are plenty of budgeting apps out there, you may prefer to create one in Excel. If you’re trying to achieve financial independence or just keep better track of your money, you need to be using a budget.
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