Excel Monthly Budget Template
The Strategy of Creating a Good Excel Monthly Budget by Using a Template
Having a budget plan in hand is something that will be helpful for you. Not only maintaining the budget, but you can also plan to save more. One of the best apps to be used is Microsoft Excel. This one is the easiest and most familiar apps to be used. Whether it is daily, weekly, bi-weekly, monthly, or even yearly can be created. One of the most favorite options is excel monthly budget template. Before going to the deeper thought, let’s know about the budget a bit. A monthly budget is a kind of document where it is used to accounts for the money flows whether goes in and out within a month. In another word, you can track the spending you made by accounting accurately for the bills that you must pay.
Before making excel monthly budget template you desire, you need to take some time to list the expense you may make in a month. You can also follow the 50/30/20 strategy which stands for 50% needs, 30% wants, and 20% savings and debt payments. Those three strategies before are also used to be the top three categories to be included in the budget template. To be able to estimate every section, you need to input the net income. You can add the total up income from some source as like wages and salaries, self-improvement income, government transfer payments (if any), investment income, and other kinds of income.
Therefore, let’s be focused on the 50/30/20 strategy for this excel monthly budget template. The 50% for needs means that these sections contain the list of essential expenses needed. They are mortgage or rent, homeowner insurance, auto payment, health insurance, groceries, electricity, and so forth. you can break down that thing into some sections like utilities and debts.
Sample Of Excel Monthly Budget :
Therefore, the 30% is for wants. This one is harder to be estimated because this doesn’t always come out for expenses, for instance, clothing, dining out, movies, self-care, home décor, and many more. The 20% stands for some categories like emergency funds, savings, and retirement. The credit card debts and loans are included in this part too. At the bottom of this page, you will be able to download this type of template for free too.
Excel Monthly Budget Template | Excel Download