A budget is the foundation of your financial health. Want to know if you can afford a vacation? How much you can save for retirement? How you can pay off your mortgage faster? These questions can all be answered if you have a budget.
Use it to follow along with the steps outlined below to make sure you are learning how to create a budget in Excel which works for you. As an overview, here are the steps necessary to create a budget in Excel:
In my case, my primary financial goal is to make sure I enjoy my retirement. For many of you, your goals will include down payments on houses, refinancing student loans, college for your children and funding retirement.
The most common time periods for a budget include a monthly or annual view. If you budget for a month, it is critical to remember to add expenses that you don’t pay every month as you’ll need to set aside money in short-term savings to have the money when those expenses become due.