How to Prepare a Family Budget Excel Spreadsheet

Raising a family is expensive and requires financial planning. Figuring out where all your money goes throughout the month and making plans for next months budget is crucial, but many people dont know how. Creating a family budget is easy when you use an electronic spreadsheet application -- such as Microsoft Excel -- that tracks your familys finances in one place. These budget spreadsheets feature built-in formulas that do all the math required, so anyone can prepare a family budget fairly quickly.

Instructions

1

Gather financial records for your entire family. Separate income and expense records into two piles.

2

Open Microsoft Excel. Click on the Office Button or File on older versions. Select New. Scroll down the template list and click on Budgets. Select Home Budgets.

3

Narrow your search by disregarding templates not created specifically for families or households, such as templates titled Personal, Wedding and College. Find a budget template that best fits your familys needs. Click Download or Open.

4

Check the spreadsheet layout to ensure there are categories that cover your familys incomes and expenses.

5

Highlight the category name and type in your new name to rename it. Right-click on a rows number and select Insert to add new categories or select Delete to remove categories as needed. Keep all new categories added above the total section. This ensures the new category is included in the total formula.

6

Use your familys financial records to fill in the budget spreadsheets cells for both income and expenses. Use your mouse or the Tab key to move from cell to cell and the Undo arrow to make corrections. Replace any figures previously on the templates with your figures and leave any unused categories blank.

7

Notice the total amounts throughout the spreadsheet changing as you type in your familys income and expenses. Determine what modifications, if any, are needed for your familys budget for the next month. Plan what to do with excessive income, such as setting up a savings account. Decide what expenses your family can do without if your monthly total is negative.

8

Click the Office Button or File on older versions. Select Save, name the file and click Save again.