Q:

What should you include in a spreadsheet for monthly expenses?

A:

Quick Answer

Although each household's expenses vary, some common items to include in a monthly expense spreadsheet include housing costs, groceries, utilities, debt payments, childcare, health care, transportation, entertainment and other recurring costs, such as those for subscriptions and fees for services. Monthly savings and business expenses should also be included in the spreadsheet, if applicable. Spreadsheet templates are available on banking, financial management and business websites.

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Full Answer

The spreadsheet should also list monthly income so that expenses versus income can easily be compared. When tracking monthly expenses on a spreadsheet, it is helpful to record the amount and date of each expense. At the end of the month, a monthly summary may be made to calculate the total expenses for each category and ultimately, the total expenses for the month. Subtracting the total expenses from the month's income is helpful for determining if expenses need to be reduced.

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