2/6/2024 0 Comments Sample excel budget personalSome people may find a weekly budget helps them stay focused on short-term, specific goals, while others find that the wide view of annual budgets gives them clarity on their long-term habits. Your budget period can be as little as a few days and stretch all the way to several years. Monthly budgets are quite popular and might be the first thing you think of, but it might help to consider other periods too. When creating your budget spreadsheet, you’ll need to specify the period over which you’ll track your expenses. You can note which subcategories are fixed (or fairly steady, like a job salary) or variable (like stock sales or contract work). The above concepts can also be applied to your income. Variable expenses: These expenses include things like dining out or shopping, in which the total from one month to another is likely to vary.Fixed expenses: Fixed expenses in a budget are line items that are unlikely to change in the long term. This includes things like your rent or mortgage, car payments, insurance bills and the like.Tracking individual bills for electric, water and heat under that larger “Utilities” category, for instance, may help you identify areas in which you could cut costs.Īnother way to track and categorize some of these items is based on whether they’re fixed or variable: If you wanted to get even more detailed, you may even be able to create additional subdivisions. Your expenses can potentially be divided into subcategories like dining, groceries and utilities, to name a few. For example, you may consider breaking down different types of income you may have (including job salary, investment dividends and rental income). Within those, you can divide each into different subcategories. While the exact number can vary from person to person, there are two categories that are helpful to have: income and expenses. This can vary from nearly nothing all the way to several hundred dollars, depending on the complexity of the program and your personal needs.Ĭategories help to organize your budget.
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