Household Budget Spreadsheet and its Importance

A household budget spreadsheet is the most efficient tools to manage the different aspects of personal finances including debt. It lets you keep a check on the expenses that are incurred due to the household activities. These are versatile mediums to keep track of unexpected and unnecessary expenses. Making such a spreadsheet is an easy task.

The first step is to select a budget template that best suits you. Wide varieties of budget templates are available on the internet and can be easily downloaded without incurring any cost. You can even design your own template using excel. A self made template is ensured to have all the attributes as per your requirements. You need to make six pages with the following titles: income, utilities, calendar, debt, seasonal and budget.

The budget page is used for balancing all the income and expenses. Subsequently you need to create the following list: income, utilities, seasonal, and debt. The income page is created so as to enter all the sources of income and the respective amounts. Then you need to total the amount column and this has to be linked to the budget page. However before you have the exact numbers you should key in the lowest expected income; which needs to be totaled and linked to the amount cell on the budget page.

The utility page consists of payments that are not debts namely electricity, natural gas, transportation, groceries, etc. After you have listed all the proximate values the total needs to be calculated and a link is to be established with the budget page. The calendar and seasonal pages are used as agents to remind you of yearly, bi-yearly and other payments. A column for every month is to be made and the respective payment for each month is to be entered in the corresponding column.  

In the Household Budget Spreadsheet the debt page is used to list all the debts due, interest rates and the minimum monthly payments. At the end comes the budget page which consists of all the amounts from every page.