Step 9: Click and drag on the cells that you wish to be included in this total, so that the cells are highlighted. Step 8: Then, click Autosum in the menu ribbon. Step 7: Click on the cell where you want the total to be. Step 6: Once you have these headings in your spreadsheet, you can start to put in the calculations so that when you put in figures at a later date, Excel will calculate any totals automatically.
In the same column that you have typed your income types, you need to add types of expenditure such as rent or mortgage payments, utility bills, shopping, leisure, TV licence, savings and so on. Step 5: Now we need to add your expenditure.
Step 4: Then, put in a heading for your income and then below this any sub-headings for the type of income you receive, for example salary, pension, benefits. Type each month in an individual cell along one row of the spreadsheet. Step 3: Put in the months over which you want to budget to run. Excel will total up the income and expenditure for you. For a simple budget, we need to put in figures for ‘income’ and ‘expenditure’ (outgoings). Step 2: The spreadsheet needs to have information put in it, to calculate the figures for your budget. Step 1: Open up Excel so that you have a blank spreadsheet.
This guide shows you how to create a budget spreadsheet in Microsoft Excel.įollow these step-by-step instructions to create a budget spreadsheet using Excel Using a budget in this way can be used for many different things such as preparing for Christmas. It also means that any changes to figures can be automatically updated in calculations by the spreadsheet so that it does all the hard work. Other: School loans School expenses Credit card payments money put into savings Miscellaneous.Using spreadsheets to help you plan your budget can be useful because it can help with complex calculations and you can see at a glance incomings and outgoings.Financing expenses: Credit card fees check cashing fees Bank fees Other fees.Personal/Family Expenses Money sent to family Child support Daycare Clothing/Shoes Laundry Charitable giving Entertainment Other personal expenses.Health: Health Insurance Co-pays Medicine Other health expenses.Transportation: Car loan payments car insurance car maintenance public transit costs gas parking/tolls Other transportation expenses.Food: Groceries Eating out Other food expenses.Housing: mortgage or rent Utilities (power, gas, water) Internet, cable, satellite Insurance Other (taxes, HELOC payments, etc.).Here are some ideas for expense line items and categories, in case you miss any: Skip a line after this category and move on to Food, following the same pattern. In the cells below this one, fill in different housing expenses that you have each month, like mortgage or rent payments, utilities, and insurance, using one cell for each expense. Start by skipping a line after your "Total Income" cell in column A and write in "Expenses." In the next cell down, write in "Housing." This is the largest expense for most people, so create space for this category of expenses first. Because of this, it's easiest to split your expenses up into general categories. Odds are that there will be considerably more individual line item expenses than there are income items. Next, you need to input expense in the same way that you put in income. Recheck it to make sure that it matches the formula above.įill in expense titles. If you receive an error message when entering the formula, this means that you have made an error in writing your formula.Excel has many other functions that can be used to simplify calculations. The SUM function in excel adds up the value contained within the specific cells, which can either be input individually (B2, B3, B4) or in a range (B2:B4).The whole formula should look something like this: =SUM(B3:B4). Alternately, you can type in the cell range by typing the first and last cells, separated by a colon, into the SUM function. In the example, this would be cells B3 to B4. Then, click the cell to the right of "Net Pay" and drag down to the cell to right of your last income line item cell. In the cell directly to the right of that cell (B5 in the example), you need to create a formula to calculate total income. Create this cell in the next available cell underneath your last income line items (so, if you only have "Net Pay" and "Other Income," this will be cell A5).
When you've created cells for all of your types of income, you'll need one that totals up your monthly income. Make a cell that calculates total monthly income.