Are features you need to use hidden away in hard-to-find places? Are the menus overly complicated? Choosing a program or template that’s confusing to use or requires advanced knowledge from novice users can frustrate your budgeting efforts. User-friendliness: You’ll need to update your data regularly for your budget spreadsheet to be effective at tracking your finances.When choosing your spreadsheet program or template (PDF), it can be helpful to consider a few things: You may also be able to find pre-made templates you can use with some of the most popular spreadsheet programs. There’s a plethora of spreadsheet software to choose from, as well as several online budget planning apps. Choose a spreadsheet program or templateĪ logical starting point to building a budget spreadsheet would be to choose a program or template for this purpose. Consider visual aids and other features.ġ.Enter your numbers and use simple formulas to streamline calculations.Set your budget period (weekly, monthly, etc.).Create categories for income and expense items.Choose a spreadsheet program or template.
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Here are some steps that may help when building your own budget: It can help you track your income and expenses, identify areas where you might be able to save money and give you a more detailed view of your financial habits.Ĭreating an effective budget spreadsheet is often the first step toward taking greater control over your financial destiny. Select both B14 and B15 and Autofill the cells F16-F27.When it comes to managing your finances effectively, a budget spreadsheet may prove to be one of the most accessible tools in your arsenal. Next, click on cell B14 and enter “=F14/8” hit the enter key once to select cell B15 and type “=F15/8” into this cell and hit enter again after keying that entry. Autofill the cells D16-D27 by selecting cells D14 and D15 and dragging the black plus sign (this appears when holding your cursor over the bottom right corner of D15 while both D14 and D15 are selected) from D15 from D27. Continue by selecting cell D14 and enter the formula “=F14/2” then select cell D15 and enter “=F15/2”. Select cell F14 and enter “9200” (Note: For this example we have chosen to use the estimates provided on the University of Tennessee-Knoxville website.) Next, fill in cells F15-F27 in the same manner. Use the AutoFill feature mentioned earlier to fill in cells F7-F10. Select cell B6 and enter “=F6/8” then select cells F5 and F6. To begin, select cell B5 and enter “=F5/8” (Note: For this budget we have assumed that a semester is four months long, thus a two-semester school year would consist of 8 months). The process for filling in the Monthly Budget Income Categories is essentially the same as it was for the Semester Budget Income Categories. This will automatically fill cells D7-D10 with the correct formula, hence saving time.
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Click on the bottom right corner where the cursor has become a black plus sign (this appears when holding your cursor over the bottom right corner of D6 while both D5 and D6 are selected) and drag it down through cell D10. Select cells F5 and F6 and hold the cursor over the bottom left corner of cell F6 until the cursor becomes a black plus sign, as shown in the figure below. After this, select cell D6 and enter “=F6/2” and hit the enter key. Next, select cell D5 and enter “=F5/2” this will give us the appropriate amount for the semester since, in this case, a school year consists of two semesters. You will obviously choose numbers that reflect your personal income categories.) For this example we will enter the following numbers into the corresponding cells: o “4800” in F5 o “6000” in F6 o “8000” in F7 o “8000” in F8 o “2000” in F9 o “360” in F10 II. (Note: the numbers used in this budget are based on amounts determined to be average by the University of Tennessee-Knoxville.
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Begin by selecting cell F5 and enter the amount of income received from jobs.