On the next line of your budget spreadsheet, make a space for your recurring, fixed expenses. Step 2: List out monthly recurring expenses Look at your pay stubs to see what you take home each month and use that number for a better estimate of your income.Ī budget is a good way to control your expenses, but remember that real wealth comes from a higher income, so don’t discount the importance of this line in your budgeting spreadsheet. For this example, I am treating this number as an after-tax income number. If you have a side hustle, you can include that in your total income or another income line. In cell B4, I used the formula “=50000/12” to get a monthly income budget. Google Sheets is an awesome, free alternative.įor the example, I am assuming a $50,000 annual income. You can format your spreadsheet any way you’d like, but for this guide I am going to put it together in Microsof t Excel. You can’t spend more than you earn, so use this as a starting place when creating your spreadsheet. ![]() When setting up a budget spreadsheet, it is best to start with your income. Whether you are new to personal finance management or a long-time veteran looking to improve your budget, follow along to create a personal budget spreadsheet to help you conquer your spending once and for all. Thanks to modern spreadsheet programs, you can make a do-it-yourself budget in just a few minutes. Budgeting used to involve a paper, pen and hours of work hunched over receipts and bank statements, but those days are long gone.
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