To create a personal budget spreadsheet, decide whether the budget is going to be for a month or longer, and include such categories as income, debts, utilities, insurance and savings, according to Kiplinger. Spreadsheets can show total income, total expenses, and income without expenses. Spreadsheet templates are available online.
When making a personal budget spreadsheet, it's best to first decide how to record spending, such as with a pen and paper, phone app, or with a computer program, notes Bank of America. A person should also decide if the budget is only for himself or if it includes his spouse or partner. It's also good to think of future expenses and income to allow for plenty of time to prepare.
A person should also look for ways to save while creating a personal budget, according to Bank of America. This can be accomplished by cooking more at home, eating out less, buying generic brands, eliminating unnecessary spending, and switching to energy-efficient light bulbs. It's also a good idea to find ways to boost income, such as freelancing, selling unwanted items, offering repair services or starting an at-home business.
When using a personal budget spreadsheet, the person should have a monthly check-in, notes Bank of America. This means comparing the spreadsheet to spending and making sure everything is in order. Changes to spending, income or the spreadsheet can be made, if necessary, to break even.