Author Topic: Favorite budget planning spreadsheets  (Read 3008 times)

La Bibliotecaria Feroz

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Favorite budget planning spreadsheets
« on: July 23, 2016, 11:55:23 AM »
I know this is probably on here someone, but I didn't see a pinned post and someone might have a new favorite!

I use the new YNAB religiously, but it tracks what I have actually spent. I want something where I can break down what I am likely to spend--somewhere to create a general estimate. Not too complicated. I am starting a new life as a brokeass single mom and I want to figure out things like whether I can afford clothes this month.

rubybeth

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Re: Favorite budget planning spreadsheets
« Reply #1 on: July 23, 2016, 12:51:29 PM »
Mint.com kind of does that. You can create budgets for things and have the money rollover from month to month if it goes unspent. And you can change the total amount budgeted each month, if your paychecks vary. If you underspend in one category, you can also easily see you have money leftover that can be reallocated.

 For example, from my own Mint.com account, you can see that some expenditures vary. Auto/Rent Insurance never changes, but for Gas & Fuel, we budget $100 but have only spent $62 so far this month. And we budget $100 for Service & Parts for vehicles, but haven't spent much beyond oil changes yet this year. Gift & Donations are budgeted at $85/month based on previous annual gift averages, but we've got $373 left to spend from previous month's unspent funds (my family's big on Christmas, so most of it will go for that). And for Hair, we are each budgeted for one haircut every 6 weeks, so it doesn't quite fit into the monthly way of budgeting so we have it rollover from month to month.

lbmustache

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Re: Favorite budget planning spreadsheets
« Reply #2 on: July 23, 2016, 02:16:49 PM »

MDM

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letired

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Re: Favorite budget planning spreadsheets
« Reply #4 on: July 24, 2016, 02:52:12 PM »
When I was first starting out, and every time I get a new job/raise, I do a quick 'annual' budget on paper or in a spreadsheet.

The spreadsheet version starts out with my annual salary, then minus my pre-tax retirement/HSA contributions. Then I do the math to estimate taxes, including SS and FICA. With my annual post-tax approximation, I take out 'annual'/non-monthly known expenses like car/house/renters insurance, post-tax savings, etc. Here, I could also estimate house repairs, vacation budget, clothing budget, hobbies, etc, though I don't usually. Then I take what's leftover and divide by 12, and that's my monthly budget. With that, I run the number on my 'planned' expenses like rent/mortgage, groceries, utilities, phone, gas/transportation, and any entertainment/restaurant/going out money I want to budget out. This lets me know if my budget is at all reasonable. If I have a bunch leftover after my known/expected expenses, I'm good. If I'm close, or heaven forbid, negative, that's a wakeup call that somewhere up the chain, something needs to change.

I like this method because it takes a bunch of 'required' spending off the top, and divorces the number on my paycheck from the amount of money I actually have to work with every month. It's also a good reminder of how much I need to set aside to meet the various irregular/annual expenses. When I was renting, it was a good tool to keep a reign on what kind of housing budget was reasonable.

La Bibliotecaria Feroz

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Re: Favorite budget planning spreadsheets
« Reply #5 on: July 24, 2016, 03:42:25 PM »
Thanks, guys--these are helpful. Not that I have had time to do anything with them yet, but in my free time with my spare hand... Divorce paperwork is a killer! But Mr. FP is moving out this week and financial separation is almost complete, so the moment to start planning is now!