Budget spreadsheets are the real deal. These are vital documents for keeping records of the inflow and outflow of your finances. It takes an intelligent mind like yours to realize that understanding how money works helps to gain financial liberty.
That’s why in this article, we will discuss even further what you need to know about a budget spreadsheet. We will also look at a few free budget templates. If you’re looking for a way to track your income, find the best ways to go about it here. Right now!
What Are Budget Spreadsheets?
Budget Spreadsheets are visual documents, usually in MS Excel or Google sheet files. They are designed to hold valid records of money flow in and out of your account. A budget template is a must-have tool for every successful investor. It is entirely different from a worksheet.
Budget spreadsheets are essential components in the financial world. All businesses implement these tools to generate good revenue. Such software includes earnings, dates, and crucial factors for optimizing profits. This spreadsheet type can be utilized long-term and is essential in the commercial field.
Can You Grow Your Money Using Budget Spreadsheets?
Setting a budget on a spreadsheet will help your money grow only if you do it right. It would help if you considered broad aspects of spending, needs, wants, and savings.
A good idea is to be keen on necessities, especially if you’re living on a paycheck. You can also write down your weekly expenses and things you spend money on. See if there’s a need to adjust on certain commodities.
It could be that your weekly Netflix subscription is more compared to the amount of time you spend on the app. To explain further, whatever requires delicate spending should be prioritized and noted.
How to Grow Your Money Using Budget Spreadsheet
Not everyone uses budget spreadsheets for their finances. However, those you find with such documents can testify that their lives have been better ever since. Habits create the path for money. Monitoring your spending helps to retain wealth.
The first thing to do if you want to grow your money with a spreadsheet is to create a budget. This budget may include your earnings and what you plan to spend within a particular time frame.
Tracking your expenses should come next. Identify habits draining your finances, do away with them, and be on the lookout for new earning opportunities.
Another trick is avoiding spending on what you don’t need. Be content with accessories/assets you own. That way, you don’t spend above your limit.
What Is the Best Spreadsheet for a Budget?
Having a budget on a spreadsheet is like a reminder. It helps to describe your current spending state. If you’re looking for the best spreadsheet for a budget, keep in mind that some may seem promising but still lack quality. A few spreadsheets are however effective. Some include:
● Vertex42
Track earnings and save enough for seasonal expenses. Handle irregular workflow of money without having to overwork your mind. Keep a record of your monetary activities without hassle. Vertex42 offers a Free Money Management template, which helps track all expenses. The app records transactions for multiple accounts.
● PearlBudget
This app is another fantastic budget software that can be used with Microsoft Excel and other Excel files. There is an analysis of expenses by different categories. PearlBudget differentiates actual from budgeted spending.
How Do You Create a Budget Spreadsheet?
There are multiple tools on the internet for creating a budget spreadsheet. A good example is Microsoft Excel.
On MS Excel, the easiest method of creating a budget spreadsheet is by choosing an existing template. You can also opt for a personalized template by doing these:
- Analyze your sources of income in a column
- Create another column for your expenditures
- Compare and contrast records of your income and expenditures
- Create an avenue for saving
Does Excel Have Budget Spreadsheets?
Yes, it does. The basic Excel version limits the budget spreadsheet feature. Subscribe to Microsoft Office Suite for Mac and Windows for the best spreadsheet templates. The easiest option is the Premade template, among others.
There are options for simple monthly budgeting and household expense budget. Premium access provides advanced spreadsheets, including personal, family, and monthly college budgets. Most of these templates come with infographics, making your layout easier to understand.
Is There a Free Budget Template?
Yes, there is. Free templates often provide access to basic features and accessibilities. Some free software allows for reminders, alarms, and others. You’ll find some free budget templates that enable you to store financial data and update them regularly.
Free Budget Templates And Spreadsheets You Can Start Using Immediately
If you’re interested in trying out some free budget templates, here are a few ones you can start using:
● MoneyUnder30.com
This software supports Microsoft Excel and Google Docs. The first step is to download it and fill in all your income after tax and expenditures. The app sends encouraging quotes to help users improve their spending habits.
● It’s Your Money Budget Spreadsheet
This tool offers seven free budgeting templates, including a Cash Flow Budget Spreadsheet inspired by Dave Ramsey’s Budgeting Methods. It works with Microsoft Excel.
FAQ
Does Google Sheets have a budget spreadsheet template?
Yes, it does. Google Sheets template gallery is home to quite some free spreadsheet templates. You can choose between the monthly and annual budget spreadsheets.
What is the 50-30-20 rule?
This principle suggests that 50% of your money be put towards needs, 30% towards wants, and 20% toward savings.
What is the easiest spreadsheet to use?
Google Sheets. It is a better option for beginners than Microsoft Excel.
Conclusion
Monitoring how money comes in and out of our pockets is essential for enhancing our financial lives. Investors, marketers, sales executives, and bankers use budget spreadsheets to balance their spending and earning rates. It’s just how it is if you dream of becoming financially free.
Create a budget and opt for an easy-to-use spreadsheet. Start tracking your expenses and day-to-day spending. Choose to live better.
