Download Best Money Management Excel Template!
Are you looking for free money management? So, our goal is to create a simple, free, money management spreadsheet that provides the same facility for basic budgeting and money management. A simple spreadsheet will do everything to manage your money.
This template has all of the money manager’s features below, including monthly and yearly reports. Although, it is a lot easier to customize and analyze budget categories. It is designed to be simple for beginners and students to begin and start having to track their expenses.
We have added a new weekly budget tracking spreadsheet. This sheet lets you explain a separate weekly or biweekly budget, will define your budget to your actual spending and expenses. The major budget sheet is still monthly, so now you have both options.
How to use this Money Management Xlsx file
Adjust the Budget Categories
This worksheet of money manager is easier to customize, so it separates groups of the expenses into different categories. And you just need to make sure that the categories are the same on all sheets.
You can also allocate the transaction to a category that is not included in the Budget or Report. And modify your report based on additional expenses so, add conditional formatting for highlighting the categories, not within the main list.
Added a set of income and expense categories, however, if customizing the categories is too difficult, just try to use the default lists.
Creating your Yearly/Monthly Budget
It includes your income, any funds, or other expected monthly income.
How much money did you pay toward your debt management, add to your savings, or put away for emergencies this month? However, if you are tracking your financial goals on yearly basis, your monthly budget should show its share.
Use the reports to differentiate your budget from your actual spending throughout the month. You can change the month by entering the month number.
For Recording Transactions
Enter transactions into the Transaction sheet correctly. You must always copy entire rows of transactions so that you can maintain the format, data, and formulas in the columns.
Copy the rows for past transactions, then put the copied rows and change the dates and amounts. You can also use a subset of rows for copying.
For Auto filtering
First, select the entire transactions table and then turn on the Auto filter. This is convenient to use filtering to display transactions for a single account at a time.
Make Sub-Accounts to Track Goals
If you are saving up for a car purchase, down payment, vacation or some other future goals then keep track of how much money in your savings account is assigned to those specific goals.
For example, one of the easy ways to do that is to make something called a “Virtual Sub-Account” which means that you aren’t creating a real account. Rather, you create an account called “CAR” or “VACATION” in the Accounts tab of the money management worksheet. Also, you can add a description or a note to the right of the table to remind you that it is a sub-account.
By creating this spreadsheet you’re transferring money from your checking account to your main savings account, record all these savings assignments as transfers to the specific sub-accounts.
Remember that the total balance shown on the records is the sum of the general account plus the sub-accounts.
Adding a New File Every Year
The money manager template is designed for showing yearly reports, so create a new file at the starting of each year, saving the old file with your old year’s tax documents.
For the new worksheet, you can remove the old transactions then add columns at the top of the transactions table to list the carry overbalances.
What is Financial Management?
Financial management is defined as the processes of saving, budgeting, investing, spending, or supervising the capital usage of an individual or group. The term is also known as investment management and project management. So, plan your goals for money management because poor money management can lead to bad debt and financial strain.
Why it is Important
- To Control your Cash Flow
- Long-Term Investment Strategy
- Tax Efficient
- Manage your Risks
- Helps you to Pay off Credit Card Debt
- Make most of your Monthly Income
Tips for Money Management
- Manage your Monthly Pay
- Track where you spend more money
- Have a plan- Yearly Plan
- Save Early
- Look at your Debts
- See what works and – Stick to it