11/5/16

Not trying to hijack or supersede anyone's topics here, just figured I'd try to be helpful - this is inspired by "Managing Your Money, Building a Personal Financial Model" and "I Can't Save Money".

This is a budget template I built that I think works pretty well. You can enter your budget by month and expense category, and then track your expenses and income in the "Income & Expenses" tab. Pretty straightforward and dynamic. I generally try to take 10-15 minutes at the end of every week to enter in the appropriate line items and have found it helpful in terms of seeing where I spend more than I'd like.

Hope some people find this helpful.

AttachmentSize
Office spreadsheet icon budget_template.xls295 KB

Comments (14)

11/2/16

Similar to what I use where the Income & Expenses tab is from a CSV file from Mint.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

11/2/16

I have something similar, but yours looks a lot nicer. +1

Best Response
11/2/16

op you left your name as the author on the book.
just thought i'd let you know.

11/2/16

Thank you - would appreciate those who downloaded the older version not stalking me

11/2/16

I use Dave Ramsey's EveryDollar.com

It's gnarly

11/2/16

This puts mine to shame. +1

11/2/16

30 XR + "we're on hold on Project DMX" = awesome budget template that I will never take the time to fill out

11/2/16

This is real pretty.

11/11/16

Do you have any targets for (max) what you would spend on things like a car payment, rent, food, etc.? Thanks for the template. +SB

12/5/16

Really up to you - I spend way too much on food and about 30% of take-home pay on rent / cable / utilities, which is also extremely high, but I also contribute ~40% of take-home pay to student loans / retirement savings, so I'm pretty comfortable with it net-net (all of those numbers are excluding bonuses - I also contribute my full bonus to student loans).

My general rule of thumb is that if I'm able to make meaningful retirement account contributions and loan repayments, then I'm in a pretty good place so I don't stress too much about the rest of the budget. I spend ~15% of take-home salary (again, excluding bonus) on food and ~7% on entertainment, which are really the things I like to spend money on anyway.

I also have ~6 months of expenses in a savings account, which was the first thing I made sure I did.

11/13/16

Great chart. Thanks a lot. In regards to cell AS7, is there a reason why not all of the personal expenses are included in that sum? It seems like it isn't including AS:37:AS44. I could be wrong though. Thanks again.

12/5/16

Yeah that was really meant as a tracker for me to know how I was doing throughout the month on discretionary expenses, so it only includes things that are not essentially "mandatory" from my perspective (I need a haircut every month, if I have to go to the doctor I don't have much of a choice, etc...). They're all technically discretionary but it was really a very fact-specific formula - you could edit it however you see fit and it doesn't flow anywhere else in the spreadsheet.

11/13/16

How would you recommend inputting salary? Does the excel calculation take into account the "unevenness" of a bi-weekly pay system in the sense that in the beginning and end of the month, not all days are from current month (ex. Bi-weekly pay occurs on 11/11, 11/25, 12/9, etc.. but for the 11/11 pay, 9/10 days are from November, 11/25 pay, all are included in November, but for the paycheck in December, 3/10 days are from the month of November.)
Thanks OP for the help and really solid excel and format.

12/5/16

1-Click to Unlock All Comments - 100% FREE

or
Why do I need to be signed in?
WSO is a knowledge-sharing community that depends on everyone being able to pitch in when they know something.
+ Bonus: 6 Free Financial Modeling Lessons with 1-Click Signup ($199 value)