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Simplified Budget Tool

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               The Simplified Budget Tool is an excel based solution to help users manage their budgets on a weekly, bi-weekly or monthly basis. It consists of the Income, Expenditures and Savings, helping users to control their cash inflow and outflow in a simple and easily printable way.

Image of the Simplified Budget Tool

Definitions

Income – Money available for day-to-day budget estimates. This segment is to be manually inputted by the user.

Expenditure – Summation of all costs listed in the table below. These numbers are automatically summed.

Savings – Income minus expenditure for the period being analyzed in the Simplified Budget Tool.

Graph – Shows an expenditure chart based on the division of expenses per type. This can help users better understand how their money is being spent, helping to support changes in habits that can enhance their financial position in the long-run. Please note that to ensure the graph is updated, go to Data->’Refresh All’.

Name – The name of expenditure incurred for that period.

Type – Category of expenditure incurred ranging from, but not limited to Home, Transportation, Food, Health Care, Education, Gifts, Entertainment, Insurance, Debt, Miscellaneous.

Print

To print, click CTRL+P or go to File -> Print

Config

Type

  • Home – Costs associated with the maintenance, upkeep, upgrades, utilization and provision of a home.
  • Transportation – Costs associated with transportation such as car lease, gas, insurance, train, metro, bus, etc.
  • Food – Drinks, foods and materials for cooking. Refrain from adding alcohol and other goods that are not expected to be constant in one’s monthly expenditure. For those, it may be better to add it to Entertainment of Miscellaneous.
  • Health Care – Health related costs to the prevention, maintenance, diagnoses, treatment, cure and amelioration of one’s life. It may include doctor’s visit, x-ray, blood test, health related dentist work, etc.
  • Entertainment – Costs associated with the entertainment of a family hold. This may include going out for dinner or drinks, cinema, Netflix,
  • Education – Family investment in education ranging from certifications, courses, degree and books.
  • Gifts – Expenditures associated with presents, anniversaries and more.
  • Insurance – Additional insurance not covered by government or company services.
  • Debt – Payment of debt ranging from credit card, mortgage and loans.
  • Miscellaneous – Cost of goods and services not allocated in any other segment listed above. If there is a large % of the total cost consistently falling under Miscellaneous, the user is encouraged to create a new ‘Type’ to help manage it.

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