Excel tables are a special format that allows for other parts of the spreadsheet to automatically update. The monthly expense sheet allows you see if you are within budget as you enter the actual costs. The process is pretty simple just select the column from the first row that will contain an expense, down to the last row of the worksheet. You could also include a third category for paying off debts, including credit cards or student loans, and building up your savings and retirement accounts. That way you can keep your overall budget on track. You can use this spreadsheet to keep track of your monthly expenses and the specific percentage you are able to save from your take-home salary. Customize an Excel template to suit your unique financial management needs, whether you're balancing the books of a small business or keeping track of your household budget. ![]() Best practice is to set aside around 30% of your budget for items like travel or entertainment that you may enjoy but do not need. Keeping your finances in check is easy to start-and maintain- when you use an Excel budget planning template in your financial management routine. These tend to be fixed amounts that don't change monthly.ĭiscretionary charges - such as how much you spend on food or entertainment - may vary and are usually filed under wants, not needs. ![]() ![]() They can highlight unnecessary spending, show you where there's room to cut back or save, and help you identify how much you need to set aside on essential items such as your mortgage, utility bills, and insurance.Īs you build your expense tracker, you could aim to allocate about half of your monthly take-home pay toward necessities, which may include expenses like your rent. By sorting all the different expenses you incur into separate categories, expense trackers can be an efficient way to track your spending regularly.
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