{"id":220,"date":"2024-11-06T07:25:46","date_gmt":"2024-11-06T07:25:46","guid":{"rendered":"https:\/\/loans.jobsinguyana.com\/?p=220"},"modified":"2024-11-06T07:25:47","modified_gmt":"2024-11-06T07:25:47","slug":"best-excel-budget-templates","status":"publish","type":"post","link":"https:\/\/loans.jobsinguyana.com\/?p=220","title":{"rendered":"Best Excel Budget Templates"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Build a budgeting habit now so you\u2019re financially ready when opportunities present themselves.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re new to budgeting, Microsoft Excel is a great place to start: It offers over 50 budget spreadsheet templates that can be fully customized to your situation. These Excel budget templates are an excellent way to bring your balance sheet to life by visualizing changes in spending habits and forecasting expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Templates are helpful tools, particularly if you\u2019re new to either budgeting or Excel. Templates are preprogrammed Excel sheets built for whatever you\u2019re tracking. No Excel formulas or design experience needed! Choose the template that works for you, then enter your data \u2013 the template will do everything else!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Excel templates can range from personal monthly budgets to specific scenarios like tracking wedding expenses or saving up for a vacation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why you should care about budgeting<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You work hard for your money! If you turn budgeting into a habit, you\u2019re making sure your money works hard for you. Budgeting puts you in control of your financial goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Have you ever had a trip pop up where you ended up using a credit card because you didn\u2019t have enough cash on hand? Budgeting can make sure you have enough money on hand for the day-to-day expenses you expect as well as the surprise expenses that life has a way of throwing our way.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Budgeting can help you stay out of debt, work your way out of debt, save for your child\u2019s college tuition, save money for unexpected expenses like car or home repairs (that A\/C unit has a way of blowing out on the hottest day of the summer!), or save money for a vacation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You don\u2019t know what the future holds, but once-in-a-lifetime opportunities can come your way. It\u2019s not enough to find them though \u2013 you need to be able to afford pulling the trigger! Building a budgeting habit now means you\u2019ll be ready in the future when opportunities present themselves.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to get started<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re brand new to budgeting, don\u2019t try to over-engineer it. You need to get a sense of your spending habits over the past few months to establish a baseline. Then, take a look at where your money is going. Are you saving a lot each month, but spending just as much on your credit card? Are you dining out more than you thought (those Chipotle burritos add up!)? Are you paying nuisance fees?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once you establish a baseline, set realistic and achievable goals. One popular framework is 50\/30\/20: 50% for needs, 30% for wants, and 20% for saving\/debt reduction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pick the Excel template that appeals to you, enter your data, and review the results.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re new to Excel, be careful not to mess with the formula bar. Unlike a website or a phone app, the guts of the template are in the formula bar. Mess with it too much, and you may have to re-do work. As many experienced Excel users know, Excel will do&nbsp;<em>precisely what you tell it to do<\/em>, for good or bad.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The best Excel budget templates<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are over 50 budgeting templates for you to choose from that come pre-loaded in Excel. You can also find a bunch of options with a simple Google search. This list highlights just a few:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Household Monthly Budget (preloaded Excel template)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Reviewing your budget at a glance<\/li>\n\n\n\n<li>Pros: The layout is friendly for new Excel users and includes customizable categories<\/li>\n\n\n\n<li>Cons: Won\u2019t display trends or document spending month-over-month<\/li>\n\n\n\n<li>Key features: A straightforward approach to budgeting<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>It\u2019s Your Money Cash-Flow Budget<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Fans of the envelope approach to budgeting<\/li>\n\n\n\n<li>Pros: Captures the envelope system in an easy-to-use Excel template<\/li>\n\n\n\n<li>Cons: The layout will probably be confusing if you\u2019re unfamiliar with the envelope budgeting approach<\/li>\n\n\n\n<li>Key feature: Budget envelopes are laid out and ready to use<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Vertex42 Family Budget<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Visualizing changes in month-over-month habits<\/li>\n\n\n\n<li>Pros: Straightforward, one-tab sheet<\/li>\n\n\n\n<li>Cons: You need to enter expenses for each month manually<\/li>\n\n\n\n<li>Key feature: Free to use and comes with support videos on how to keep it updated<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Make your own budget spreadsheet<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: DIY-minded person who also wants to learn Excel functions<\/li>\n\n\n\n<li>Pros: Fully customized budget based on Excel techniques you taught yourself<\/li>\n\n\n\n<li>Cons: Excel can be a steep learning curve. If you\u2019re going to build a budget yourself from the ground up, you\u2019ll need a few hours to set it up, particularly if you want to include more advanced formulas and techniques like macros, pivot tables, or \u2018if\u2019 functions<\/li>\n\n\n\n<li>Key feature: Maximum flexibility, plut the satisfaction of knowing you built something yourself<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Alternatives to consider<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Generally, Excel templates are good for those who want to enter things manually and are very detail-oriented. There\u2019s a very good chance you\u2019ll need to dig into Excel\u2019s formula bar, even if you\u2019re using a template. Excel can handle some interaction with other applications, but it can get messy quickly. Fortunately, for anyone who wants things to be a little more automated, there are plenty of excellent budgeting applications available.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mint<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Detail-oriented budgeters who want one place to go for everything<\/li>\n\n\n\n<li>Pros: Mint\u2019s API (application programming interface) means it can talk to pretty much any institution you have a relationship with. It will auto-categorize everything you let it look at and will adjust as you use it more.<\/li>\n\n\n\n<li>Cons: It\u2019s not perfect; you will likely spend an hour or so recategorizing transactions the app missed.<\/li>\n\n\n\n<li>Key features: Autocategorization of expenses and integration with most institutions<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Personal Capital<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Investment-focused budgeters<\/li>\n\n\n\n<li>Pros: Great visualizations, easy to use, and, like Mint, it integrates with most institutions<\/li>\n\n\n\n<li>Cons: May be too much for someone new to budgeting<\/li>\n\n\n\n<li>Key feature: Robust visualization tools for more visually-oriented budgeters<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Good Budget<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good for: Simple layouts for budgeters who prefer \u2018envelopes\u2019 approach<\/li>\n\n\n\n<li>Pros: Great representation of the envelopes approach<\/li>\n\n\n\n<li>Cons: Free version limits you to 10 envelopes; the paid version costs $50 per year; doesn\u2019t integrate with any institutions<\/li>\n\n\n\n<li>Key feature: Captures the envelope approach as an app<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The final word<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Budgeting is critical to achieve your financial goals as well as ensure you\u2019re financially ready for whatever life throws at you. Excel\u2019s budgeting templates can be a great starting point if you\u2019re new to budgeting, but keeping the spreadsheet up to date requires manual entry. Applications like Mint, Personal Capital, and Good Budget typically offer a more accessible interface (especially if they integrate with your institutions), but that means turning over your financial information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don\u2019t let the time it will take to set up your budget stop you from building your budgeting habit. Try a few different applications to see which works for you. If you don\u2019t feel like any of them meet your needs, you can always make your own Excel budget spreadsheet!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Build a budgeting habit now so you\u2019re financially ready when opportunities present themselves. If you\u2019re new to budgeting, Microsoft Excel is a great place to start: It offers over 50 budget spreadsheet templates that can be fully customized to your situation. These Excel budget templates are an excellent way to bring your balance sheet to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-templates"],"_links":{"self":[{"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/posts\/220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=220"}],"version-history":[{"count":1,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/posts\/220\/revisions"}],"predecessor-version":[{"id":223,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/posts\/220\/revisions\/223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=\/wp\/v2\/media\/222"}],"wp:attachment":[{"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/loans.jobsinguyana.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}