Budget Spreadsheet - Template & Tutorial (EXCEL, GOOGLE SHEETS)

Introduction

This tutorial will guide you through using Jessica Moorhouse's updated budget spreadsheet available for Excel and Google Sheets. Designed for employees and couples who combine their finances, this template helps you effectively plan and track your budget, ensuring you can reach your financial goals.

Step 1: Download the Budget Spreadsheet

• Visit the download link: Download Here.
• Choose between Excel or Google Sheets version based on your preference.
• Save the file to your computer or add it to your Google Drive.

Step 2: Set Up Your Budget Tab

• Open the spreadsheet and navigate to the "Budget" tab.
• Enter your monthly income sources:
  • List all income sources (e.g., salary, bonuses).
  • Use separate rows for different income streams.
• Input your fixed and variable expenses:
  • Fixed expenses include rent/mortgage, utilities, and insurance.
  • Variable expenses cover groceries, entertainment, and miscellaneous spending.
• Review your total income and expenses to see your budget balance.

Step 3: Use the Spending by Category Tab

• Go to the "Spending by Category" tab.
• Break down your expenses into categories:
  • Common categories include housing, transportation, food, and entertainment.
• Track your spending by entering amounts each month.
• This will help you identify where you are overspending and adjust your budget accordingly.

Step 4: Record Your Daily Spending

• Access the "Spending" tab.
• Document each expense as it occurs to maintain an accurate record:
  • Include the date, description, and amount spent.
• This daily tracking allows you to stay on top of your budget and make adjustments as needed.

Step 5: Analyze Your Net Worth

• Navigate to the "Net Worth" tab.
• List all your assets (savings, investments, property) and liabilities (loans, credit card debt).
• Calculate your net worth by subtracting total liabilities from total assets.
• This provides insight into your financial health over time.

Step 6: Utilize the Dashboard Tab

• Open the "Dashboard" tab for a visual representation of your finances.
• Review graphs and charts that summarize your income, expenses, and net worth.
• Use this data to make informed decisions about your budget and financial goals.

Conclusion

By following this tutorial, you can effectively use the budget spreadsheet to manage your finances. Regularly update your spending and review your budget to ensure you stay on track with your financial goals. For further questions or tips on budgeting, consider reaching out in the comments or exploring additional resources on Jessica Moorhouse's website.