Financial Management Using Excel Spreadsheet

Personal Monthly Budget and Personal Budget Spreadsheets

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The personal monthly budget spreadsheet helps you track your income and your expenses. This helps you understand what you are actually saving every month and quickly identify areas where you may be overspending.

The personal budget spreadsheet on the other hand will allow you to plan for an entire year. If you are anticipating any major changes like purchasing a home, changing jobs, or if you are moving, you may need to make financial plans many months before. This spreadsheet will allow you to make a realistic assessment of what your financial status may be in the future.

Household Monthly Budget and Household Budget Spreadsheets

With a family, the number and nature of expenses changes. You may have to budget for children’s expenses, pets, vacations as also make more long-term planning. The above spreadsheets will help you set goals for yourself, note down your income and expenses, and understand whether you are achieving the financial goals you had set for yourself.

Debt Reduction Calculator

This spreadsheet will help you eliminate various kinds of debt more systematically. You can use it to eliminate credit card debt, auto loans or student loans. In the first worksheet, you will be asked to enter details of the various loans you have to repay, choose the amount you are able to repay every month and then see a comprehensive summary of the results. You can analyze the best way monthly credit card payment plan for you.

In the next worksheet, you will be provided with a detailed payment schedule that you can take a printout of and keep it for ready reference. By using this payment schedule to make payments and to keep track of your progress, you will manage to pay off your debts in a more disciplined manner.

Loan Amortization Schedule

You will be able to keep track of when and what payments you need to make towards your home mortgage by using the loan amortization schedule. You will need to enter some basic details like loan amount, the period of loan, the interest rate, date of first payment and how often the payments have to be made. You can use the spreadsheet to keep track of all the payments made so far and know at any point of time what the outstanding amount is. Further, you will also be able to calculate what kind of effect making additional payments will have on the interest to be paid and how quickly you will be able to pay off the loan.

Retirement Spreadsheets

These retirement spreadsheets allow you to calculate the amount needed to retire in comfort and also what you will need to save if you are planning on an early retirement.

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This guest post was written by Hadar Kadar. Hadar works for Cogniview, the _PDF to excel converter people_ [