Budget Tracker Template
When you are on a mission to improve your personal finances one of the most effective methods that you can implement would be the Budget Tracker Template Spreadsheet. This is a program that runs on the Microsoft Excel software. Budget Tracker Template Excel is incredibly effective at assisting you to plan out your personal finances. At the end of the day, your budget is your lifeline when it comes to your financial future. It helps to have an easy way to improve the efficacy of your strategy by keeping track of key data points. The ultimate recipe for success is analysis followed by improvement. This entire process is made almost effortless thanks to the predesigned format that has been laid out in this special template. So what are you waiting for? Let’s go ahead and dive in? We are to teach you exactly how to use the software and we’re showing you several additional tips on how to make use of it to the fullest extent possible.
How To Use Budget Tracker Template Excel
There have been many people to claim they have developed the ultimate Budget Tracker Template however few of them offer the level of service that this one will. Now any piece of software can offer you all of the most amazing features in the world but if you do not know how to use it it will not do you much good. So let’s get started on learning how to use this amazing program which can help you to truly make a difference in the future of your life.
Microsoft Excel is going to be the program we will be using to fill out your budget tracker. Most computers will already have a copy of this install if they run Microsoft Windows. There are a few alternative programs out there that can also run this file but we will be sticking to the one that it was originally designed on.
Now once you are sure that you have the proper software installed and you’re ready to go we will need to download the file. On the budget tracker page, you’ll see a link that says click here to download now. Click that button and within a few moments, you should be able to open the file. Once the file has finished downloading go ahead and click on the icon so it will open up for you.
The next few steps are all going to be about inputting data. Let’s go ahead and look at the categories of data that we will be inputting.
The Budget Tracker Template Spreadsheet will start at the very top with the words starting balance. This is what you are going to put your total monthly expenditure limit in. The next category is going to be income. Now here is going to be the places that you are going to put every source of income in the amount of income you have received. It is broken down into several categories. The first category, and the one where most people will have the majority of their income, is going to be under the wages and tips category. Track your total wages and tips by the month. At the end of every month, you will put the total amount into this cell. Now you will go ahead and do the same process for the remaining items. These will include earnings from investments such as dividends and interest. As well as other earnings such as gifts or inheritance.
Now we are going to do expenses. Tracking your expenses is going to help the most if you break it down as much as possible. You’re going to see three main categories: home expenses, transportation expenses, and healthcare. Now, this is simply a template so it will not have every single possible thing you could put here. If there are other major categories of expense for you then feel free to create additional cells so that way you can track them as well.
Underneath each main category, you are going to see a number of typical example categories. Again this will not be a comprehensive list but it is a great place to get started. For example, under home expenses, you will see things such as a mortgage, rent, homeowners insurance, utility bills, and maintenance items. Keep track of your proceeds throughout each year and at the end of every month tally up the total for each respective category.
The transportation category will include items like vehicle payments and auto insurance. You can also put tangentially related items such as public transportation costs or vehicle repairs. Finally, you will include your healthcare costs. This is where you’re going to put your monthly copayments as well as your deductible payments. Any fees that you have spent going to see a doctor will also be put here. Again break everything down as much as possible so that you can look back at the end of the year with an enhanced clarity that is brought about by a greater level of detail.
After everything is done you will be completed. You can tally up the difference between your total income and expenses for each month to see where you are at. Go ahead and save the file so that way you can share it with anyone that you need to share it with such as a personal finance manager. Give it a title that will allow you to easily retrieve it in the future without getting stumped by forgetting the name. It would be helpful if you went ahead and click the print icon while you’re at it. This will allow you to see a print preview where you can make any last-minute changes. Now that it looks perfect let’s go ahead and get a copy of this printed out. It will work best if you have it somewhere that you can see it every day.
Additional Tips on How to Use the Budget Tracker Template Spreadsheet
While the Budget Tracker Template Excel is a phenomenal piece of software it has its own limitations. Any Budget Tracker Template will suffer from the same flaw that other templates suffer from. They are meant to be generic so that way they can apply to as many cases as possible. This leads to many cases where it is not a perfect fit but merely just a good fit. This is easily alleviated using the great customization features that come with the software. You will be the most successful if you modify this to make it your own so that way you feel a greater sense of personal attachment to the outcome.DOWNLOAD