A personal finance spreadsheet can be a useful tool to create a budget and monitor your income and expenses. One can say that it is a do-it-yourself budget creation and monitoring software. Any person can create a personal finance spreadsheet to help organize his finances.
You have two options when you decide to create your own personal finance spreadsheet. One is to download a template from the Internet, and the other is to create your own spreadsheet from scratch. The first option is the most feasible for people who may not have the technical knowledge to fiddle with spreadsheets and formulas. There are a lot of personal finance spreadsheet templates that you can find online, and many of them are for free. You can even try out several templates so that you can see which one suits you best and to see how you can customize them. The second option is perfect for those who have at least a basic knowledge of creating formulas and manipulating spreadsheets. This option gives you the benefit of being able to customize your spreadsheet exactly the way you want it.
Whether you go for the first or the second option, you have to sit down and create a plan. This will make your task much easier. Write down the elements that you need to include in your spreadsheet. This will entail having to take note of all your sources of income, all your recurring expenses, and expenses that come up every now and then. Once you have taken note of all of these items, you can then start inputting the items in your spreadsheet, together with the appropriate formulas that will automatically calculate your total income, total expenses, and your bottom line.