Best way to make a budget spreadsheet how to#

Best way to make a budget spreadsheet how to#

Here’s a closer look at how to make a budget spreadsheet - and the sections you’ll want to include - in five easy steps.įirst, input the money you earn each month, whether that’s salary or revenue.

If you foresee a slowdown in your income because your employer has cut back your hours or there’s a drop in revenue because you had to temporarily shut down your business, you can react more quickly - and save yourself future financial pain - by using your budget spreadsheet to see where you can cut back on discretionary expenses. It’s important to make these projections so you can better prepare for what lies ahead. However, if you’re more seasoned, you can easily look back at historical spending to help inform future projections. If you’re just starting the budgeting process, you may have to make educated guesses for these inputs after doing some research.

The most common way to track these elements is with a budget spreadsheet. There are three main steps to creating a budget: determining what you have coming in, tallying what’s going out, and saving for a rainy day. It’s the only surefire route to financial stability - and it could prove critical to your success and that of your business. Think of a budget as a spending plan that helps you prepare for the best possible future for yourself and your business. Whether you’re an individual, a for-profit business, or a nonprofit organization - a titan of industry or barely making ends meet - you need a budget to manage your personal and professional life.