PF104-Basic Budget-Annual and Monthly for 2 Incomes.xlsx
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BASIC BUDGET-ANNUAL & MONTHLY
INSTRUCTIONS & SUGGESTIONS
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The purpose of this excel workbook is to enable budgeting on both a monthly and an annual basis and to track actual cash outflow for these time periods. As my blog (www.makingyourmoneymatter.com) explains in detail, my approach to finances in general is to put time into the budgeting and tracking process to be able to meet your financial goals. Knowing where your money is going will help you to actually do things with your money that MATTER to you.
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Some experience and knowledge of excel is presumed, but here are some instructions for how to best use these excel spreadsheets in an efficient and effective manner so that it will work for you!
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ALL SHEETS CURRENTLY LIST IDENTICAL INCOME/EXPENSE ITEMS ON IDENTICAL ROWS TO MAKE THINGS CONSISTENT FOR THE USER. READ BELOW FOR EDITING INSTRUCTIONS!
It is highly recommended that you edit descriptions rather than adding and deleting rows. If you do not need extra rows for income or expense items and you just need to adjust the descriptions to fit your situation, I suggest simply selecting all tabs "Annual Budget Cash Flow" to "Monthly Budget-Dec" (use shift key to select first and last tab) and editing the descriptions in Column A. Then right click on any tab and select "Ungroup Sheets".
To add additional income or expense items, it is suggested that you add them to all spreadsheets at the same time and do not add them at the very end of the list, but at least one row above to make sure the totals stay correct. For example, to add an additional paycheck deduction item, such as disability insurance premiums, you:
FIRST-start with selecting a cell in "Annual Budget Cash Flow" and then hold down the SHIFT key and select the last spreadsheet "Monthly Budget-Dec"
SECOND-right click on the row below where you want to insert a new row (row 18 for an additional payroll deduction) and click "Insert". A new row will be inserted in all spreadsheets and you can type in a description.
THIRD-right click on any of the tabs and select "Ungroup Sheets" This part is very important so that you don't "mess up" the other sheets with any further changes you make.
FOURTH-update the links and totals in the "Annual Budget Cash Flow" & "Annual Actual Cash Flow" tab by selecting those tabs together and copying and pasting the row above or below (these link to the monthly spreadsheets) Make sure to select Ungroup Sheets when you're done editing.
FIFTH-update the totals in the rest of the Monthly Budget tabs by selecting those tabs together, editing and then making sure to ungroup sheets.
LAST, you should do a quick check of totals on each set of worksheets to make sure they are correct.
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Setting up and filling out your budget at first will take some time, but be worth it in the end! Once it is all set up, it will require much less effort to keep it updated on a monthly basis.
See more instructions about completing this budget on www.makingyourmoneymatter.com
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