Add Budget Proposal Template Countersign with airSlate SignNow

Add initials Budget Proposal Template

welcome to this tutorial on how to create the ultimate personal budget in Excel a personal budget is one of the most fundamental and Powerful tools for actively taking control over your personal finances as it helps you to understand and to proactively plan where your money goes while many people already use Excel to build simply expense trackers for themselves I want to bring this to an entirely new level and show you how to build a full-blown personal budget management tool in Excel that lets you proactively plan your income allocation to custom expense and savings categories for every single month then lets you track and assign your actual money flows to these defined categories and based on that automatically generates a well-structured and interactive dashboard analysis with a detailed breakdown of your budget performance for each individual month and year let me quickly state that nothing said in this video is financial advice I'm not a financial advisor and this tutorial is solely about the creation of a powerful personal finance tool in Excel with that being said let's take a deeper look at the final Excel template that we're gonna build today the budget planning worksheet is where the journey starts it's designed for creating a so-called serial-based budget plan which essentially means that every dollar that comes in has to be allocated either to your expenses or to your savings so that the planned income minus the planned expenses and savings will equal zero with the template being fully empty at the beginning the first thing to start with is defining custom categories in the income expenses and saving section to add a new custom category in any of these sections you can simply unhide these prepared empty rows Define the category and it automatically gets added to this table and will now be considered in all further calculations and worksheets every additional Dollar in income that you plan for a month will increase the amount to be allocated in that same month just like in the income section you can add as many custom expense categories as you need by using those prepared empty rows the expense section should cover both your needs like housing utilities groceries and also something like minimum loan payments and your wants like entertainment fun vacation donations and many more every dollar allocated to an expenses category will decrease the amount left to be allocated so that after you have planned all your expenses you know exactly how much will be left for your savings the savings section can then be used for planning your contributions to both long-term savings Investments or extra payments on that but also short-term savings Ambitions in the form of sinking funds that help you to systematically save towards the future expense or down payment the goal should be to plan the contributions based on your saving priorities until the amount left to be allocated is exactly zero which means you now have a...