![]() ![]() What does the "Potential to Save" value mean? The following groups are reflected in this chart: The line chart depicts the status of the various categories, such as income and expenses for each month relative to the previous month. The chart enables you to determine categories with most and least expenditures, which can help you to analyze your budget farther and possibly identify some categories with partly or altogether avoidable expenses. ![]() This pie chart shows the percentage share of the summarized expenses incurred throughout the year. The Annual - Expense and Distribution Pie.The same data is also used in the doughnut charts, which shows the share of each expense category. The bar chart is a representation of the monthly expenses by category. The chart makes it easy to interpret the income source with the largest and smallest shares. The Income pie chart reflects the share of each source of the income, which you receive. The Dashboards worksheet shows a summary of your personal budget in four different charts. This value is calculated both on a monthly and annual bases. Potential savings made by an individual are calculated by simple subtraction of the sum of the Total Savings Goal and the Total Expenses from the Total Income. It also helps with making better savings and expenditures decisions. The monthly analysis helps to obtain a projected image of the overall savings targets that individuals aim to achieve and the amounts they can potentially allocate towards their savings. The net value of the savings goal is calculated monthly, as well as on the basis of an aggregated annual amount of savings. The savings goal can be a single goal or a set of projected goals. The worksheet also includes a savings goal set for each month that one should aim to achieve through successful budgeting. There are various sources of income included by default in this template: The first worksheet is the personal budget worksheet that will hold the details of the possible sources of income, as well as amounts received through each of the sources. It’s ideal for those who want to track expenses, watch their net worth grow, and get a quick glance at all their financial accounts in one place.Start by downloading the template and recording into the spreadsheet your income, followed by expenses. The “money out” chart gives you a quick look at where the lion’s share of your money is going.Īpp to try: Mint is the original free personal finance budgeting app.Everything is on one page, so you have all the data right in front of you.Some of the categories include housing, groceries, transportation, utilities, and dining and entertainment. Your expenditures will fall into a color-coded graph that gives you a percentage and visual on how much you’re spending in each category. Then you’ll use the budgeting categories to plug in expected expenses for the upcoming month. ![]() With this budgeting template, you’ll enter your paycheck amount and any additional money you have coming in. If you’re looking for a basic yet visually-appealing budget template, we really liked the Simple Budget Template from Apple. In fact, Apple has created 10 specific personal finance Numbers templates you can access. While the Kiplinger’s Budget Spreadsheet discussed earlier in this article does download as a CSV file (making it compatible with Numbers), there are better options Mac users. Best Template for Mac Users: Numbers’ Simple Budget Template In fact, their subreddit has over 135,000 members. The app has a very loyal user base with a dedicated community. Tens of thousands of people struggling with debt have turned to YNAB (short for “You Need a Budget”) to help get control of their finances. So, it’s by knowing that number that you can prioritize your decisions to meet your goal to become debt-free as fast as possible.Īpp to try: Opt for YNAB. Every financial decision should be about reducing that number. If you’re struggling to get out of debt, the number of months it’s going to take you to become debt-free should be your guiding light. Specifically, it shows you how many months until you’re debt-free. While the budget aspect of this template is simple, what’s powerful is what it outputs. We included a free budgeting and debt reduction template in our guide to getting out of debt, which can help you build your debt snowball. ![]() That way, you see quick results and feel like you’re making progress with each payment. With the debt snowball method, you’re paying off your debt in order of smallest to largest balance. If your goal is to get out of credit card debt, research has shown that the debt snowball method to be the most effective strategy. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |