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Why Have a Monthly Budget?

Why Have a Monthly Budget?. Reasons to have a monthly Budget: Keep track of money spending Help you save more money over time Allows for planning No surprises Organization for personal use and busniess. Getting the Basics. When you begin your budget

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Why Have a Monthly Budget?

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  1. Why Have a Monthly Budget? • Reasons to have a monthly Budget: • Keep track of money spending • Help you save more money over time • Allows for planning • No surprises • Organization for personal use and busniess

  2. Getting the Basics • When you begin your budget • Start with determining what you pay for each month. (ex. Credit card payment) • On average how much do you pay for them? • What is your salary? • Now lay this out in a excel sheet

  3. The Basics • The next step is to layout the year in months. • Example below

  4. Now For the Details • Next you need to add a “Total” column at the end of your months. • Here you will be adding the formula: • =SUM(C3:I3) or the coordinating cells in your excel for each category (ex. Car payment, food, and credit card payment). • This formula will add all your expenses for a year in your total column. A video tutorial for using the sum formula.

  5. Details • Lastly you need to fill in your monthly budget as the months go on.

  6. Monthly Budget Steps

  7. Charting Budget Click here for more information on the benefits of a monthly budget.

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