![]() ![]() For specific advice about your unique circumstances, consider talking with a qualified professional. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. Making a budget spreadsheet in a nutshell You could even try other budgeting methods until you find one that fits your lifestyle and goals. If your budget spreadsheet isn’t working for you, you can change it. Keep in mind that there are budgeting apps that can link to your financial accounts to do that work for you. But you may need to update it regularly as your circumstances change.ĭid you get a pay raise, tax refund or cash birthday gift? Did you have an unexpected car repair or doctor visit? Did you splurge on a weekend getaway? You’ll likely want to input those numbers into your spreadsheet. Your budget spreadsheet may be in good shape. That snapshot could help you make decisions about things like saving or paying off debt. When you’ve plugged in your numbers, you’ll generally get a snapshot of your financial picture. Here’s where the financial information you’ve already gathered will come in handy. Once you’ve decided on a template and built your spreadsheet, it’s time to plug in your income and expenses. Seeing your average expenses each month could help you plan for the future or spot when you’re going over your budget each month. Then underneath those categories, you could create subcategories to list your types of income and expenses in detail.īy using the program’s subtraction function to deduct expenses from income, you’re able to get a quick look that compares how much money you have coming in to how much you have going out. Ready to set up your budget spreadsheet? You can generally make it as simple or detailed as you want.Īt a minimum, you might want to create one category for your total income and another for your total expenses. Still others might maintain an annual budget. How often do you want to manage your budget spreadsheet? That may largely depend on your financial situation.įor some people, a daily or weekly budget may work best. Utilities like power, phone and internet.Food including groceries and restaurant meals.Variable expenses may change from month to month and can include: Memberships such as gym and streaming TV services.Loan payments, including those for student and personal loans.Transportation such as bus and rideshare services.Rent, mortgage and homeowner association fees.A bill calendar could help keep track of those.Įxpenses on your spreadsheet can be broken down even further into fixed expenses and variable expenses.įixed expenses remain generally consistent each month but can have small fluctuations depending on usage. Those can include your monthly expenses, plus your bills that aren’t due on a monthly schedule, like annual personal property tax. They can also be broken into subcategories. ![]()
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