Excel personal budget monthly example7/30/2023 Ideally, you’ll be working with a program like Tiller that allows you to customize each line item so it’s conducive to your unique budgeting style. The important thing is to make your budgeting categories meaningful. You might like getting very specific as we discussed above, or you may prefer to keep your categories super flexible and broad. How you break up your personal budget categories is up to you. Retirement Planner spreadsheet from Tiller Community Solutions Or a bar chart showing your progress towards your savings goal for that beach vacation. For example, maybe you want to create a graph showing the growth of the investments in your 401k over time. When you are budgeting for long-term goals in particular, including visuals with your spreadsheet can help you stay motivated. Use whichever strategy feels best for you. So you list out each goal:įor others, this level of detail will feel overwhelming. But you want to know where all that savings is actually going. ![]() For example, maybe you want to save 15% of your income. It helps them ensure they’re not forgetting about any bills or postponing any savings goals. Some people benefit from getting hyper-specific with their budget line items. All of your bills, including revolving debt like credit cards.Income from side hustles and other sources.From a bird’s eye view, you’ll want to include things like: ![]() At the most basic level, you’ll want to include all of your income and expenses. Whether you get super granular or super broad, you’ll want to include every penny you earn, spend or save in your monthly budget. What to include in your spreadsheet worksheet No more data entry, CSV bank files, or logging into multiple accounts. Or, you can use Tiller to automatically import your transactions. Here are simple steps on how to import your bank transactions into a spreadsheet. It’s still doable, but it’s not as simple as using Google Drive. If you’re using Excel instead of Google Sheets, you may run into more difficulty when it comes to things like sharing your spreadsheet with a partner or accessing your budget from the cloud.Budgeting apps are often easier to view on mobile devices like a cell phone.Spreadsheets don’t inherently import your banking data like many budgeting apps do – unless you’re using a program like Tiller.With spreadsheets come freedom, but you’ll also need to decide on your own budgeting strategy rather than simply adopting the strategy of the app developer. ![]() Most budget apps come with their own, built-in philosophy.You might need to know a little bit of coding unless you use an intuitive program like Tiller.Spreadsheets allow for cloud access, while some apps only allow you to access your budget from one device.Spreadsheets can allow for more privacy when you use the right settings.Spreadsheets are free while many budgeting apps cost money.You can choose from an array of pre-built budgeting templates so you can get started quickly.This is particularly important if you’re managing your personal finances with a spouse or partner. Spreadsheets allow for built-in collaboration, while most apps do not.Spreadsheet budgeting allows you to create a money plan that’s unique to your own personal circumstances and preferences, instead of using whatever default methodology worked best for the app developer. While both have their merits, at Tille we’re big fans of spreadsheets. When it comes to budgeting in 2022, you’ve got two main options: Using a spreadsheet or using an app. “Budgeting is hundreds of years old, so why try and reinvent it? It’s much easier to use a Google Sheets budget template.” – Your Money Geek Creating a spreadsheet budget? You’ve come to the right place! Today, we’ll take you through everything you need to know to create a budget worksheet that helps you achieve your financial goals.
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