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re: Budgetary Excel Modeling
Posted on 9/5/14 at 9:55 am to Swoopin
Posted on 9/5/14 at 9:55 am to Swoopin
I spend several hours each work day writing software and building out reports based on business data. I also spend several hours a week maintaining a centralized record of my budget in Excel. At the end of the day, I rarely apply my knowledge from work to the spreadsheet I've built, although I have come across many potential areas of improvement. If you are like me, you will begin development of your spreadsheet with a lot of motivation but get tired of the amount of time put towards it. As long as I can check my progress (spending too much? Not saving enough?), I am overall satisfied. Anyways, I will give you a run down of my budget spreadsheet, and ask that you expand on what exactly you wish to model within your budget.
My spreadsheet consists of multiple tabs. I keep a high-level tab labeled 'Summary' where I can analyze categorical spending and monthly spending. All of the data presented in the Summary tab is aggregated and pulled from the 'Details' tab where I log all of my income and expenses. Within the Details tab I have a column for each of the following:
- Category
- Each day of the year
- Summation of the category
- Summation of category spending from the previous year
- Summation of projected spending within the category
Example of logging a transaction:
On 9/1/2014 I went to Walmart and bought $30 worth of groceries. I would navigate to the cell for Details -> Groceries > Walmart > 9/1/2014 > and plug in $30. This would then update the totals for my summation columns, and my summary tab.
I also have a tab for each credit card so I can track my current balance compared to the posted balance online. Can be considered overkill yet it works for me.
I have been maintaining a budget spreadsheet going on 3 years now, and I get more enjoyment out of them after the year ends and reviewing spending, than I do maintaining during the year. Good luck to you on your work and you will feel rewarded (if anything making a budget spreadsheet will teach you Excel).![](https://images.tigerdroppings.com/Images/Icons/Iconcheers.gif)
My spreadsheet consists of multiple tabs. I keep a high-level tab labeled 'Summary' where I can analyze categorical spending and monthly spending. All of the data presented in the Summary tab is aggregated and pulled from the 'Details' tab where I log all of my income and expenses. Within the Details tab I have a column for each of the following:
- Category
- Each day of the year
- Summation of the category
- Summation of category spending from the previous year
- Summation of projected spending within the category
Example of logging a transaction:
On 9/1/2014 I went to Walmart and bought $30 worth of groceries. I would navigate to the cell for Details -> Groceries > Walmart > 9/1/2014 > and plug in $30. This would then update the totals for my summation columns, and my summary tab.
I also have a tab for each credit card so I can track my current balance compared to the posted balance online. Can be considered overkill yet it works for me.
I have been maintaining a budget spreadsheet going on 3 years now, and I get more enjoyment out of them after the year ends and reviewing spending, than I do maintaining during the year. Good luck to you on your work and you will feel rewarded (if anything making a budget spreadsheet will teach you Excel).
![](https://images.tigerdroppings.com/Images/Icons/Iconcheers.gif)
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