The point is that you have a place called BIG BILLS to remind you to budget for the big important stuff, the stuff that if you don't plan for, could break you. Whether you call some of these categories "sinking funds" or "short-term savings" doesn't matter in this worksheet. Some people like to track the savings for big bills in separate accounts, sometimes even a separate sub-accounts. You can divide in Excel using a formula such as =1500/12. For a monthly budget, divide the total average yearly cost of a large bill by 12. Things like medical bills, home repairs, and car repairs can be budgeted ahead of time so that you have the money when you need it. Nobody makes it through life without unexpected big bills. This would also be a place to pull out priority savings to apply the "pay yourself first" principle. If you pay a tithe (the "pay God first" principle), then you can multiply by a percent in excel using a formula such as =10%*B9 where B9 is the Total Income. This category is for making adjustments to your gross income, such as listing the tax withholdings and other deductions from your paycheck. They are designed to help you apply the 'Pay God First' principle, the 'Pay Yourself First' principal, the 'Debt Snowball' and 'Savings Snowball' techniques, the 'Sinking Funds' idea, and the 'Envelope Budget' system. The categories in this worksheet have a very purposeful structure. Step 2: Enter Your Budget (Savings and Expenses) If your income varies a lot, you can base your budget on what you expect the minimum for the month will be. If you get paid weekly, you can base your budget on 4 weeks. If you actually get paid biweekly, you may want to base your budget on just two weeks of pay, then use your extra paycheck twice per year to do something special. Track all your finances in one place, customize your workbook, and receive personalized tips without ever leaving Excel.If you are creating a monthly budget, list all sources of income for the month. It is the only template where you can securely link your financial institutions to import and sync accounts and transaction information into an Excel spreadsheet. Money in Excel is a dynamic budget worksheet for Excel that can help you feel more in control of your finances. You can manage various kinds of expenses incurred related to home, daily living, transportation, etc. It is recommended that you to update the list regularly for the actual cost incurred against the budgeted cost in order to correctly calculate the variance between the two come end of the month. This simple budget spreadsheet records a range of categories of expense to cover all sorts of payments or costs that you might incur. The Home Budget stores the income details like wages, interest/dividends, refunds/reimbursements and transfer from savings, etc. You can easily allocate budget for a category of the expense and record the actual cost incurred for that category during the month. The Home Budget helps in allocating budget each month for various expenses at the start of the period and monitoring the difference against actual expense at the end of the month.
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