Free Family Budgeting Tools Excel Budgeting Spreadsheets to Download
If you have access to Microsoft Excel, then the following four free family budgeting tools will help you get a good overview of your finances.
Are these Excel spreadsheets the only tools to use? Of course not. But they are a good starting point if you do not have your own system. Download them and see for yourself their usefulness. See my explanation at the end if you do not have Excel.
Use this Family Budget template to create a comprehensive monthly spending plan. Figure out your total income, total expenses, net income, and projected savings over the course of the year. Includes sections for home expenses, healthcare, telecom, transportation, daily living, savings, debt payments, entertainment, subscriptions, and vacations.
The Net Worth Calculator is a good way to take a snapshot of your current financial situation. You can think of this as the personal equivalent of a corporate balance sheet. One way to think about a Net Worth calculation is to consider what you would have if you sold everything you owned and paid off all your debts on the same day (note: do not actually do that).
The third of the four free family budgeting tools is a Loan Amortization calculator creates a schedule for repaying your loans. Enter the loan amount, interest rate, and the length of the loan to determine the size of your monthly loan payment. You can also see how changing the payment frequency and making additional payments affects your repayment schedule. This calculator can be used for consumer loans, auto loans, mortgages, and student loans. Please understand that this spreadsheet is for illustrative purposes only. Also, taxes are not factored into the assumptions.
A great tool to help you get a good snapshot of your employer retirement benefits is the 401K Template calculator. It can help you estimate how much your 401(k) will be worth over time. Input your assumptions and see how your estimated results will change.
Phew. There you go. Four free family budgeting tools in Excel that you can download and start using today. You say you do not have Excel? Then go to the Open Office website and download a free Excel compatible program. Be sure to let me know what you think of these spreadsheets and how they have helped you.
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