Monthly Budget Template Excel
Tips in Creating Your Own Monthly Budget Template by Microsoft Excel
For those who are not familiar with financial management, they may think that budgeting is not so important to be done. In fact, by doing this financial management, you can track every expense and of course, manage both your income and expense effectively. Not only for those who have higher income, but all people with various backgrounds can do this. A monthly budget template can be the best option if you are going to start your financial management. Even though at first you will take a bit too much time to create one, later, you will be able to make it without any difficulties.
Therefore, before you create one, it is better to pay attention to the six tips here. Income is something that must be included in the monthly budget template you are going to create. You need to input the income whether it is main income or other additional income. Income tax and pension plan contribution are two other things that have to be paid attention to in this section. Therefore, the expenses you make should be documented for both fixed expenses like mortgage, student loans, car payment, health insurance, and so forth; and variable expenses such as entertainment. Other than that, you need to consider the savings. It is worth setting aside some money every month no matter how little is it? 10 percent of post-tax income is recommended by financial experts for your savings.
However, every receipt that you have will help you to record and analyze the spending habit you have. Keep all the receipts within three months’ expenditure, then calculate the average by totaling it. Then, you can decide whether it is needed to be cut or not. The monthly budget template allows you to set up goals for both short and long-term goals.
Sample Of Monthly Budget :
By having the goal, you may be able to pay off your debt if any which means that your finance has some point down. The short-term goal is likely to pay down credit card and the long-term goals can be clear the mortgage payment. The last is considering the tools that you will use since there are many tools provided. The simplest and easy to understand is by using an Excel spreadsheet. If you are interested in using this type of template, you can download one by clicking on the free download link provided at the bottom of this page.
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