Budget More Effectively With a Budget Spreadsheet

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Planning a budget is the best way to know where your money goes each month—and whether you have any extra. With all the suggestions out there for how to budget, it's hard to find the best method.

Budgeting with spreadsheet formats can be a great way to organize everything, from different bank accounts to unforeseen expenses.

Here's everything you need to know about a budget spreadsheet to help improve your spending habits.

Advantages of Spreadsheet Budgeting

Using a spreadsheet means you can tailor it to fit your needs. You're not stuck with a piece of paper that can't be modified. If anything unexpected happens or one month is different from the last, you're already set up to deal with it.

Spreadsheets work no matter what the money is for, whether for business expenses like SEO services or for paying bills at home. You can use the same tactics when managing a small business or a household when you have a spreadsheet system.

Going digital with your budgeting also means you can access it anywhere. You no longer have to remember to bring a piece of paper with you or wait until you get back to the office. You can even use your smartphone to help you with money management on the go.

Use a Template

One way to get started is to use a template. Start with an example budget spreadsheet Excel file and tweak it to suit your needs. Everyone's money plans will look a little different, so don't be afraid to change some of the formulas to make it easier.

Other programs besides Excel have spreadsheets, too. You can budget with OpenOffice, LibreOffice, or Google Sheets.

Some banks even have sample spreadsheets you can use. Just contact the customer service department and ask for help with monthly budgeting.

Make Your Own Budget Spreadsheet

It takes a little time and determination to learn how to make a budget spreadsheet, but it may serve you better than a template. Look at some examples and decide which items are most important. Think about the layout you want, and jot ideas down.

Start with a blank Excel file, then designate columns and rows. Divide them by income and expenses. Add in any formulas you may need.

This helpful list has directions for the formulas you'll need for budgeting, although much of money planning uses simple calculations (like addition and subtraction).

Plug in some real numbers to see if you've been successful. Make any changes before you copy your work into another sheet for another month. Otherwise you'll be making the same changes every month.

How to Make It Work

The most important part of a budget spreadsheet is to keep up with it. It's harder to use when you have to enter a bunch of expenses all at once. This should be a time-saver, not an extra chore.

With all the advantages of spreadsheet budgets, you're ready to level up your money management. Whether you go with a template or create your own, you'll be more organized than ever.

Did you find this article on budget spreadsheet tips helpful? Check out the rest of our website for more information! Visit the Finance section of the Bootstrap Business Blog right now to learn more about accounting and bookkeeping on a budget.

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