![]() Confronting your finances head on is the best way to reign in your spending and achieve your goals. No one wants to live paycheck to paycheck or, worse, find that they are coming up short at the end of every month. ![]() We’ve already touched on a few of the reasons that you might want to use a budgeting solution. Major Benefits of Using an Excel Family Budget Template As you break down your monthly expenses, these should match up well enough with what you have coming in so that you can pay your bills, save money, and meet other financial goals. Imagine all of your monthly bills and your incoming cash. In short, a personal budgeting template is meant to be simple to use. Templates vary in complexity and features but are generally designed so that there is an easy to follow format to help you manage your money. What Are Family Budget Templates?Ī family budget template is a pre-made solution to help you categorize and analyze your family finances for a certain period, such as a month, quarter, or year. Jack and Diane can do it their own way, but share one automated Google Sheet that’s powered by Tiller, and they keep their accounts separate.Ĭlick here to learn how to set up Tiller for managing shared expenses.A free Excel family budget template is an excellent tool to analyze spending, cut debt, and boost savings. Over time there will be a full version history that shows what Tiller, Jack, and Diane have each done to the sheet. With each edit, a revision is added to the version history. Diane shared the spreadsheet she created from her Tiller Console with Jack’s Gmail account so they can both go in and categorize transactions. Tiller Money feeds this spreadsheet with new transaction and balance data every day. Jack and Diane’s Spreadsheet to Manage Shared Expenses They wanted to see the patterns over time, so Diane added a Monthly Analysis sheet to visualize month-over-month shared expenses and see if they’re generally on track. You can see that they have plenty of cash flow ($4,734 in the black) and have only spent 32% of their monthly budget.īecause they can customize their spreadsheet to reflect the way they want to track their money, Jack and Diane went a bit further than the standard budget view. And then there are the shared expenses that come from their shared household and kids. They also both have their own discretionary and living expenses they pay for with their income. You can see they both have a couple income sources. In either case we built this sample spreadsheet to help you visualize how you might use Tiller (or any Google Sheet) to track and manage your shared expenses. They aren’t too concerned with their finances and maybe it’s because they use a spreadsheet to keep track of their shared expenses. Jack and Diane are representative of many couples out there today who are living life, having fun, and doing the best they can. Both couples can see it anytime, on any device. ![]() The spreadsheet also keeps both aware of the larger money trends, and over time they may decide they want to further consolidate their accounts (or go the opposite way). Is the balance right between the two of us?.Are we making the right shared expenses?.When they talk about money periodically, they can focus on the shared expenses. ![]() Whether you automate it with daily data feeds and prebuilt templates from Tiller, or build your own and manually add the data to your spreadsheet, the results are the same. But a spreadsheet allows you to set your own categories, nothing more, nothing less.įor example, a couple could have a shared sheet with six category groups: Tools like Mint are frustrating because they come prepackaged with over 100 categories and it’s impossible to delete those categories. One way couples can do this is to create a single spreadsheet with all of their spending. Today there are many ways couples are using Tiller to track their individual expenses versus their shared expenses. The flexibility of Tiller and spreadsheets, however, makes this much easier. We’ve thought a lot about this at Tiller because the workflow this couple embraces (separate accounts with some shared expenses) is both common but hard to pull off with most tools. How track shared expenses without sharing accounts So he suggested she try budgeting, which she is doing with success, but they are still very independent with their money. Then one day she mentioned she was waiting to fill the car with gas until she had more money, and he realized she really didn’t have much of a reserve. It roughly works out, but they’re both in the dark about each other’s money. She pays for the groceries and child care. In their case, each person works, keeps separate accounts, and divvies up the big expenses. ![]()
0 Comments
Leave a Reply. |