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The world of personal finance is flooded with beautiful and sometimes (often) complex worksheets – which assume a certain level of expertise in using Microsoft Excel or its equals. This creates a lot of room for error for those less experienced with these kinds of programs and with that a serious bias in who has appropriate access to these ((un)necessary) tools. This is why, instead of creating just another version of the same complicated worksheets – I provide easy-to-use worksheets with limited access to prevent unnecessary (mistaken) modifications.
With this being said, hoping that every sheet can be used without much explanation, I do feel the need to provide access to some sort of manual for each of my worksheets for those still uncomfortable with using them. If after all this, you still have questions or missing something – reach out! info@financialphilosophies.com.
Last side note: I avoid the use of currency, to make any sheet applicable to your local situation – this does mean that you should try to avoid mixing different currencies into one worksheet though! I would love to think Rp 15,000 is the same as € 15,000 – but sadly this is not the case!
“The slightest adjustments to your daily routines can dramatically alter the outcomes in your life.”
– Darren Hardy
The worksheet – Money Tracker
On a yearly basis it is good to track your net worth, but in order for it to grow – it is important to follow your spending habits month by month in order to stimulate a change in your spending habits. For this, I created a money tracker where you can track your income and expenses month by month, following the wallchart concept suggested by Vicki Robin and Joe Dominguez in ‘Your Money or Your Life’.
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The input - Income/Expenses
To start filling out your money tracker, you’ll have to fill out the golden cells, once filled they will turn white. Fill out the year is optional, but recommended if you intend to follow this up for several years to come (or want to fill out for years in the past).
Simply fill out the money coming in – and going out of your bank account for the corresponding month and the worksheet will provide you with an yearly total at the bottom.
The output – Text
This worksheet provides two forms of output, the first, underneath the input, is a textual summary of the data you’ve provided. It tells you how many months you’ve had an excess of expenses compared to the income, the overall savings for this year and the average earning and spending on a monthly basis.
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The output – Graph
Next to the textual output, there is a (bigger) graphical output on the right of the worksheet. This graph expands as you start filling in the months (min. 1 and max. 12 months in this worksheet) and it shows the income (green squares) and expenses (red diamonds) for each month. The area between the two lines will either color green, if income exceeds expenses, or red, when expenses exceed the income of that month (see image). This provides a visual representation of how your spending habits fit to your level of income. Best is to keep it all the green!
Have any suggestions for improvement or things that you feel are missing? Let me know in the comments below!
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