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Hi,
I'm just curious if anyone plans their own budget and forecast with excel. Any tips and tricks for me as a design my first one?
I have attached what I've created so far.
Hi,
I'm just curious if anyone plans their own budget and forecast with excel. Any tips and tricks for me as a design my first one?
I have attached what I've created so far.
yes I do this for a few people
and use a standard template grouping different financing and having a summary at the top of the sheet
i have
income at the top - which is a sum of the income group
General expense at the top - sum of all the other groups
and then i have an extraordinary row - which are the one off unexpected payments/expenses that will not occur again - for example selling a house/loan or gift to help a friend out/ anything that would skew a forcast
I then forcast for 3 years on seperate sheets - using an average of previous year and current year to date - along with a increment for inflation
the at the top of the sheet , you can see your project balance for the months and end of year and then changing sheets - next few years at the current runrate
i also show the % of income per group - so you can see where the money is being spent
I have recovered a lot of expenditure - which was unnecessary or should not have been paid - like TV license for over 75's
also looking at some of the big ticket items and renegotiating home insurance , car insurance , breakdown cover - all on direct debit and just paid evergreen without review
Last edited by etaf; 08-20-2016 at 09:02 AM.
Wayne
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Excel spread sheet are the powerful tool, that can help one in not only in managing personal finances but also managing other aspects of personal finance. You can easily do your financial planing by using the financial planing spread sheets. Excel offers spreadsheet templates that helps you easy to manage all aspects of your personal finance. You can easy to use it.
Great! I was just looking for a certified financial planner only. This seems to be a very informative and helpful post. I will forward it to my friends and cousins too. My plan is to a have my own house and want my parents to live with me.
Moved to the general Excel queries section.
Ali
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