How to Create a Budget in Excel

How to Create a Budget in Excel. If you have a hard time keeping track of all
your monthly bills, you can use Microsoft Excel to get organized and get those expenses
under control. You will need Microsoft Excel and bills. Step 1. Open Excel. The program automatically opens to a new spreadsheet. Step 2. Label columns A to D in row 1 with the following
headers: bills name, due date, total balance, and monthly payment amount. Enter the information from your first bill
in row 2, filling out all four columns. Continue typing the information for all your
bills, one in each row, placing them in order of date due. You can further break down your budget by
grouping like expenses together: household and fixed payments on top and credit card
bills at the bottom. Each group should be sorted in order of due
date. Step 3. Total all the “monthly payment expenses” in
column D. Skip a few rows beneath the bills and type “Total” in column A. In this same
row, but in column D, calculate the grand total of all your bills for the month. Total your figures by using Excel’s calculation
tool. Type SUM equals; then highlight the cells
you want added together. Make sure the cell numbers are in parentheses. Step 4. Type your monthly income amount in the row
beneath the monthly total amount due in column D. Label this row “Monthly income” in the
same row, but in column A. For easy identification, shade your outgoing expenses and your income
in different colors by going to Borders and Shading in the Format tab. Step 5. Subtract your total amount due every month
from your total monthly income. This is the amount you have left for fun money
or to put into savings. Step 6. Continue adding to your spreadsheet every
month. To add further detail, make a note of how
much you spend on non-bill payments throughout the month, such as groceries and entertainment,
and add new rows for these expenditures. Add a column with the next month as the header
and fill in all the rows. Soon you will be able to see where the majority
of your money is being spent. Did you know In 2008, Mark Zuckerberg, the
founder of Facebook, stole Bill Gates’s title as the youngest self-made billionaire at just
23 years of age. Bill Gates won the title in 1987 at the age
of 31.

6 comments on “How to Create a Budget in Excel”

  1. Black Rose says:

    You don't need Microsoft Excel for that. Google docs people.

  2. Shakaama says:

    @mrmjordan thank you, i'm using Google docs spreadsheet right now.

  3. kakourosc says:

    If you use google docs, then google will have a copy of your budget. Thats fine if you dont care, but if that bothers you, you can download open office or libre office, which is the open source version of microsoft office, for free.

  4. xxdemonshitxx says:

    How can I set this up to keep track semi-monthly? I get paid every two weeks and my bills are scattered all over the month. I'd like to be able to see what's due every paycheck.

  5. Stephanie L says:

    You type =SUM, not SUM=

  6. The Modern Glitch says:

    So, what exactly is the point of having the "Total Balance" column?

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