The Consumer Financial Protection Bureau (CFPB) recommends creating a budget spreadsheet or worksheet to track your income and expenses to assist you in creating a realistic budget for yourself. This helps you to see how much income you have, as well as how your money is spent, which allows you to budget your money appropriately for your needs. Much like a business, a person benefits from using a spreadsheet for their finances because it places all the information in one easy-to-read place.
Since then the technology has been adopted by businesses, banks, and governments, which use spreadsheets for creating budgets, tracking spending, and creating reports for their financial matters. Budgeting and personal finance spreadsheets are readily available online.ĭan Bricklin and Bob Frankston created the first financial spreadsheet program in 1979. Managing your personal finances can appear to be a daunting task, but it doesn't have to be. Budgets help you plan for your monthly expenses, activities, needs, and even your financial future. The ultimate spreadsheet to track all your credit cards, sign on bonuses, and annual fees. Many of these spreadsheets include a demo video or tutorial, making the option more attractive for those not familiar with spreadsheets. If you are looking for a similar spreadsheet to track vanilla stocks, here is my stock portfolio spreadsheet. One of the best methods for managing personal finances is to create a budget.Ĭreating a budget can help keep your finances organized while controlling the amount of debt you might require to live the way you want. For those who want to track expenses against a budget, the Money Management Template is an excellent Excel or Calc spreadsheet that does not require the use of macros. Basic living expenses need to be maintained for a reasonable quality of life-which can be attained by most people if they manage their finances correctly.