Let’s compare the Projected Income and Projected Expenses first. Now, create a table to summarize the whole monthly budget with the total amount of projected income, actual income, Projected expenses, actual expenses, and their differences. Step 6: Summarize Personal Monthly Budget
#PERSONAL BUDGET BUDGET PIE CHART HOW TO#
How to Create a Business Budget in Excel (With Easy Steps).Prepare Annual Budget for a Company in Excel.Create an Operating Budget in Excel (with Detailed Steps).How to Make a Wedding Budget in Excel (2 Suitable Methods).Read More: How to Do Budgeting and Forecasting in Excel (2 Suitable Ways) You can create multiple tables based on the expense categories and add the projected and actual expense amounts in them. You can follow similar procedures like the calculation of income to calculate the expenses. Step 5: Compare Projected and Actual ExpensesĪfter calculating the income, it is time to calculate the expenses. Read More: How to Make a Budget in Excel (2 Easy Methods) Use Fill Handle on the right side to AutoFill the total amount of actual income and the total difference between the actual and projected income. Now, calculate the difference between the projected income and actual income in cell E7, using the following formula. Step 4: Compare Projected and Actual Incomes Add the probable income amounts in the Projected Income column and the exact amount in the Actual Income column. Now, take a new worksheet and add all the possible income sources. Step 3: Input Projected and Actual Income You can categorize them based on the expense pattern. There are some sources of fixed expenses and occasional expenses. Income).Īlso, consider all the possible expense sources. Step 2: Classify Income and Expense Sourcesįollowingly, consider all the possible income sources in a column (i.e. Here, I have considered April’2023 as a time period. In order to create a personal monthly budget, we need first to consider a month of a year as a time period.
Step 1: Fix a Month to Make Personal Budget
#PERSONAL BUDGET BUDGET PIE CHART MANUAL#
The manual procedures for making a personal monthly budget are described in detail in the below section. We can add the necessary sources or remove the unnecessary ones in this procedure. We can create a personal monthly budget based on our necessities. Manual Procedures to Make a Personal Monthly Budget in Excel Both of the methods are described here in the following section.ġ. If you want to make a personal monthly budget manually, it won’t be as easy as using a built-in template. How to Make a Personal Monthly Budget in Excel: 2 Smart Ways It helps a person to manage his finances in the best possible way. The individual tries to consider all the possible sources of income and expenses throughout the month in that budget. A personal monthly budget is nothing more than a financial plan that features the incomes and expenses of an individual over a month.
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