![]() As these take a lot of time to write, it would be great to hear your feedback. If you enjoy the excel tutorials and find them useful, it would be great if you leave a comment. You could compare this to what months you have the most expenses going out. If you have irregular income, you could graph your income to see what months bring in the most income. If you have investments, then you could use a line graph to track your investment portfolio. ![]() So every time you put money into your savings, your savings column will automatically rise towards your target. The great thing about Excel is that if you change your data in your spreadsheet, your chart will automatically update to show the current data. It shows you what your budget looks like in a pie chart divided into the. Add your income and expenses to this monthly budget template, and we'll show how your spending aligns with the 50/30/20 rule. Graphical representation of your earning and spending traits using pie charts and bar charts. If you are saving for something specific, you could chart the target amount that you need to save and your actual savings to date. Groceries, personal care products, and things for baby needs are expenses youd. Ability to record your personal daily expenses and incomes. If you are comparing actual expenses with budgeted expenses, for example, you could use a column chart to make the comparison. Once you know the basics, you can chart any information that you like. Details Spending Change Spending Pie Chart Spending Per capita States Rank Federal by State Federal Budget Revenue Details Total Federal State Local State and Local smaller text bigger text download view download file print view Spending Definitions Pensions: Pensions, disability. There are plenty of other charting options that I didn’t touch on here, have a play around to try out these option. You should always consult a qualified financial expert when making money decisions to tailor plans to suit your circumstances. In this blog, I share my savings and budget planning and what works for us. All figures are made up.ĭisclaimer: This is general information only. It condenses all those numbers down into a visual representation that has immediate meaning.įor this tutorial, I’ll be using the same budget spreadsheet as I used in the loan calculations tutorial. And I realised for the first time just how much of our income was going towards our mortgage.Ī sheet full of numbers is great, but for an instant idea of how your finances are, you can’t beat a graph. I could see our finances for the first time. The numbers that had been staring me in the face for years suddenly jumped up and had meaning. It was just for fun really (I know, I need to get out more!), but what I found really surprised me. Just after we first bought our house, I decided to create some graphs. Previous to that, our budget was kept in a little exercise book. I have been keeping my budget in excel for four years now. If you’re confused about whether something is a need or a want, simply ask yourself, “Could I live without this?” If the answer is yes, that’s probably a want.Charting your budget in Excel. It simply means being more conscious about your money by finding areas in your budget where you’re needlessly overspending. And if you discover that you’re spending too much on your wants, it’s worth thinking about which of those you could cut back on.Īs a side note, following the 50/30/20 rule doesn’t mean not being able to enjoy your life. Using the same example as above, if your monthly after-tax income is €2000, you can spend €600 for your wants. Make Your Own Pie Chart You can use Excel to create a pie chart for you, or you can do one by hand. Entertainment subscriptions (Netflix, HBO, Amazon Prime) Daily Spending: 20 Here it is in actual chart form: Ideal Financial Pie Chart As you can see, only about 20 of your pre-tax income should be used for day-to-day spending This includes things like bills, food, clothing and entertainment.Wants are defined as non-essential expenses-things that you choose to spend your money on, although you could live without them if you had to. ![]() Using the pie charts, ask the students to calculate the amount of money that would be spent or saved on each item. With 50% of your after-tax income taking care of your most basic needs, 30% of your after-tax income can be used to cover your wants. Assume the family monthly income is 3000.
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