Getting started with a spreadsheet:
In order
to get started, launch
budget categories starter set and see the
categories already set-up.
After you have copied the category
starter set into
a spreadsheet you are then ready to do some editing.
Before making any changes, backup the
just copied starter set
to another area of the computer, or, copy it to a newly created tab in
the spreadsheet.
Go through the starter set and delete lines that
don't pertain to you at this time. You can always come back later and add
them back in.
Now you should have the categories,
line-by-line, with an AMOUNT column adjacent to each category, like in the example,
that will represent one month of bills that you are budgeting.
Remember, this is only the bills
you elected to start out with. For a complete picture, you would
have to add all your expenses and incomes to the budget.
If you want to take this a step further, you
can add a couple more columns.
One column for ACTUAL COST of the category and
another for the difference between what you budgeted for and the real amount-
UNDER/ OVER BUDGET.
If you have a bank that tracks your
checks through Bill Pay or some other means, see if you can download it to the
spreadsheet. This may get a little complicated if you are not PC minded-
get your kids to help out.
Once you get this going and you have
set your mind to controlling your finances, you
will begin to see just how budgeting can help in controlling your expenditures.
When it comes to little items that
you purchase- coffee- candy- maybe lunch, you need to also track these expenses. Don't let these item get uncategorized.
Little items tend to add up
over a 30-day period.
If you are so lucky to be
under budget- meaning you are not spending all your income, you
can add it to your savings so that your budget zeros out. Make sure you
have accounted for all your expenses- very important that you don't overlook
anything.
That savings money will come in handy
to build your reserve funds- if you don't have one. Or send it to your
investments where, if you have a long timeframe, and your so inclined to, invest
in stocks.
But whatever you do with it you'll
have a sense of accomplishment that you can save and control your finances.
NEXT:
Getting started with the other
software product
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|
|
|
CATEGORY |
|
Budget Amount |
Actual |
Under/ over Budget |
|
Income categories |
|
|
|
|
Job income- net |
$4,500.00 |
$4,500.00 |
$0.00 |
|
|
|
|
|
|
|
Expense categories |
|
|
|
|
Savings/ Investments |
$250.00 |
$200.00 |
$50.00 |
|
Mortgage/ Rent |
$1,000.00 |
$1,000.00 |
$0.00 |
|
Electric |
|
$250.00 |
$248.34 |
$1.66 |
|
Gas |
|
$50.00 |
$56.31 |
($6.31) |
|
Water |
|
$25.00 |
$11.76 |
$13.24 |
|
Cable/ Satellite |
$35.00 |
$35.00 |
$0.00 |
|
Vehicle payment |
$350.00 |
$350.00 |
$0.00 |
|
maintenance |
$25.00 |
$0.00 |
$25.00 |
|
Fuel |
|
$50.00 |
$40.00 |
$10.00 |
|
Credit Card Payments |
$80.00 |
$80.00 |
$0.00 |
|
|
|
|
|
|
|
Total income |
$4,500.00 |
$4,500.00 |
|
|
Total expense |
$2,115.00 |
$2,021.41 |
|
|
Under/over budget |
$2,385.00 |
$2,478.59 |
|
|
