BASIC HOUSEHOLD BUDGET EXCEL HOW TO

You can analyze your projected and actual income from different income sources. Let’s use this budget to gain such insights.Īnalyze Projected and Actual Income from Income Sources With its help, you can track your income and expenditure, get to know what expenses you are making too much, etc. The purpose of creating and maintaining a personal budget is to control your financial activities. Valuable Insights to Get from Household Budget in Excel

BASIC HOUSEHOLD BUDGET EXCEL HOW TO

Read more: How to Create a Personal Budget in Excel Then, highlight the key information as you like.Write down the following formula in C12 > press ENTER.We will use the SUM function to perform this task. See the screenshot below to know what it looks like.

Then, you should record your actual income (column D) against these projected incomes.At the beginning of a time period, you will set a projected income (column C) from all your income sources.The next step is to record the actual income.

Step 4: Compare Projected Incomes and Actual Incomes Under each category, you will find sub-categories. There are some broad expense categories like Necessary Expenses ( column C), Occasional Expenses ( column D), Regular Repayments ( column E), etc. The income sources are followed by the expense sources. Next, we have listed some common income sources in our budget. In our example, we will have a monthly budget. The time period of a household budget can vary based on an individual’s needs and preferences, ranging from a monthly budget to a yearly budget or even longer. This tutorial will guide you through the process of setting up an Excel budget that you can adjust to suit your needs, no matter how simple or complex your budgeting requirements are. But you can make it easier by using Excel.

How to Make a Household Budget in Excel: With Easy StepsĬreating a personal budget can be tough, especially if you don’t use budgeting tools often. By creating and sticking to a budget, you can ensure that you live within your means and allocate your resources in a way that aligns with your financial goals. It is a record of all the money you earn and spends in a given time, and it can help you make informed decisions about your finances.Ī household budget typically includes all sources of income, such as salaries, bonuses, and investment income, as well as all expenses, such as rent or mortgage payments, utilities, groceries, transportation, entertainment, and savings. Conclusion Introduction to Household BudgetĪ household budget is a financial plan that helps you keep track of your income and expenses on a monthly or yearly basis.

Basic household budget excel