In Column B ( Monthly Estimate) of the Budget tab, enter your anticipated monthly income and expenses for each category (an exception is the Charity row, which is automatically calculated as a percentage of your income). You can make adjustments in your second year to create a more accurate budget based upon what you spend in year one. But doing this will help you get a realistic idea of where your money is going. Your first year of budgeting estimates won't be perfect, and you may be surprised at how much or little you spend on certain categories. You can calculate these amounts monthly, yearly, or using a mix of the two. Once you have defined your categories, it's time to estimate how much you expect to earn and spend. Make sure to use the exact same categories you used on the Budget sheet in Column A. In Validity, select the Criteria tab, then click on the arrow to the right of Allow, set it to List, and type the categories you want to use in the Entries box. To add or remove categories from the dropdown menu, click on Column C in a Monthly sheet to select all Category cells. Then, in the main menu, select Data > Validity. You may need to change some of them so that they will match the categories in your budget (Column A of the Budget tab). Click the arrow, and you'll see the example categories. Click on a cell in Column C, and a drop-down arrow will appear on the right. You can view them on the Monthly sheets (accessed with the tabs at the bottom of the LibreOffice window). The template uses a drop-down menu to make it easy to assign categories to income and expenses. You want budgeting to be as quick and easy as possible. You even could save up your receipts to calculate all your expenses at the end of the month, but this can be a hard slog. You can input transactions as they happen, daily, or weekly. It's important to interact with your spreadsheet frequently. Next, download my LibreOffice Calc template, which you can use as a starting point to create your own budget to meet your spending and savings goals. Getting startedīegin by downloading and installing LibreOffice, if you don't already have it. Fortunately, LibreOffice makes it easy for anyone to keep their yearly budget in check, even the math-averse. In this article, I'll step through a sample budget by explaining the logic behind important money decisions as well as the formulas you need to automate the process. But it's important to know where your money is coming and going. It can feel overwhelming to think about money, much less about how to keep track of it. Savings / Investment: Investments made towards FD, RD, Gold, e-Gold, ELSS, Stocks, Mutual Funds, Land, Plot, Insurance, and other investments, in addition consider retirement fund investments, and the emergency cash fund that you put aside every month for family welfare.Budgets can be intimidating for beginners.Personal: comprises of Market Groceries expenses, Household expenses, Medical expenses, Entertainment expenses, Clothing and other Expenses.Educational: School or College Tuition expenses, Student Loan EMI payment, School or College supplies.Transportation: comprises of Monthly Bus Ticket charges, Car Loan EMI / instalment, Car Insurance, Petrol / Diesel Expenses, Car Maintenance / Repairs.Housing: comprises of House Loan EMI Payment, Home Owners Association Fees, Rent, Home Insurance, Repairs, Equipment Maintenance, Water, Cooking Gas, Electricity charges, Cable TV, Internet, Mobile Phone monthly expenses.Calculator consider Housing, Transportation, Educational, Personal, Savings expenses and/or investments as an input Just enter or use the slider to adjust your expenses / investments per month and get the visual recommendation.
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