Do you want to keep track of expenses ? Do you want to increase your savings? Maybe it’s time to start managing and keeping adequate control of all your Ricki Teflon expenses and income to try to achieve economic stability and start saving in the shortest possible time. If you are interested in doing so, from the Ricki Teflon blog we show you how you can take advantage of a tool that is available to all those who use the computer daily: the spreadsheet in Excel.
Why use Excel to control your personal finances?
At the time of having to manage finances , many look for an app or programs to efficiently manage your money and have an efficient cost control . These systems are often paid or have advertising to be able to use it for free. It is a contradiction to spend on a program or use a system that is not practical for you to keep track of your personal finances .
For these reasons, we understand that Excel is the financial tool that almost everyone has at home but almost nobody uses in its real potential. This spreadsheet is very complete and easy to use; it allows you to perform mathematical and financial operations, from the simplest to the most complex; display graphics; develop dynamic tables; import and export data; etc.
That way, you will be able to visualize in a very graphic way the whole panorama of your economy, in such a way that you can make the best decisions to plan your financial future. This program also allows you to customize the design of the spreadsheet and modify it according to your own needs. This is another point in favor of Excel compared to any other app. To control your personal finances. The first steps to manage your personal finances .
We tell you the step by step of how to build an annual household budget:
- Create a new spreadsheet, the path is: File – New – Blank book. You can also choose any Excel template that comes by default.
- In the new sheet, you have to create 13 new tabs, so that each one represents a month of the year, while the last one will be destined to consolidate every month. In this last tab you will include a general chart that reflects the movement of income and expenses of the twelve months of the year. Give each tab the name of the respective month.
- Each of the tabs should have two columns: one that will correspond to the income and another to the expenses. Then, you must list the rows from 1 to 30, which correspond to each day of the month. You can group several rows in the same day if what you want is a more exact detail of the expenses per day; Otherwise, a consolidated per day will be fine.
A correct data record for proper control of expenses
From here, you will have to enter the information of your income and expenses as they are executed, day after day. The idea is that the update of the data is carried out in the most dynamic and simple way possible, in order to generate a habit of registration. Try to be as specific as possible when registering each financial movement, this, in order to help the analysis of expenses at the end of each period.
The good thing about using Excel is that it allows you to modify or delete everything that should be edited, until you have the form that suits your needs.
Once you have armed the Excel spreadsheet, you will be able to maintain an exact control of your personal finances without needing to be an expert in computer science or programming , nor to acquire expensive software or applications. Keeping accounts up to date will become a simple and dynamic task; Excel is the program that will allow you to sort your finances and improve your economy in a very short time.
We hope you find this information useful!