The most detailed guide to making a personal spending table in 1 month

Spending management is a difficult problem but also extremely necessary for each individual. However, this problem is rarely taught when we are still in school. When we grow up, step out into society, sometimes we struggle because of the difficulties in managing personal expenses. We wonder how to manage spending in 1 month, 1 year, 5 years….

Below, lamchutaichinh will guide Make a personal spending chart for 1 month details for you. Let's watch together!

Why do you need to make a personal spending chart for a month?

In daily life, we need to spend a lot of different things. However, the amount of money we make in a month is limited. Therefore, in order to spend the money reasonably and not to be negative next month, it is necessary to make a personal spending table for 1 month.

Besides, making a personal spending chart for a month helps us control income and spending. From there, it helps us to save money scientifically and invest in profitable items in the future.

How to list income and expenses periodically for 1 month

In order to be able to make a personal spending chart for a month easily, usefully and conveniently, you need to be sure of your monthly income and expenses.

When determining your monthly income and expenses, you should use the following ways to list your income and expenses:

Using a personal notebook, list your income and expenses.
Use the personal expense table in excel, and list.
Use the take note app or take notes at your smartphone.

Thus, with the above 3 ways, you can easily list your income and expenses. The premise to be able to make a personal spending table in 1 month.

Determine the necessary contents in the spending table

In addition to listing the income and expenditure on a monthly basis, you need to determine the necessary contents in the expenditure table. This section, will be tailored to each individual's goals. Below, lamchutaichinh provides you with 3 essential content that any spending table should have.

Essential needs in life

This is an important and indispensable need in any individual. The essential needs here are food, food, electricity, water, internet... in some other individuals, it is also housing money. This basic need will usually account for 50%-60% of your income.

If you use more than 50%-60% of your income for this, you have used "negative" on your current income, affecting your spending on other needs.

If you tabulate your personal expenses for a month in a row, you'll be able to control this situation.

Personal spending needs

This is as much a necessity as a necessity. Personal spending needs are expenses for travel, shopping, outings, study, entertainment.. This need usually accounts for 10%-20% of your total income.

Often this need is very important, if the right investment in learning, you will develop in background, knowledge, increase a sustainable income in the long run.

On the contrary, with the demand for shopping, going out and entertainment, many people have spent too much, unable to control.

If you include this item when making a personal spending table, you will easily control and balance unnecessary expenses.

The need to develop personal financial goals

Developing personal financial goals are the needs of investing in real estate, securities, insurance, buying gold, hoarding, ... or learning activities, expanding knowledge and relationships that you think is necessary.

With this investment, your finances will grow and be stable in the future. However, you should not invest too much here, spend 10% of your total income to invest, the remaining 10% to save.

Thus, we are also gradually applying the 50/30/20 rule to determine the necessary contents when making a personal spending table in a month.

Apply financial rules before making a spending table

There are many financial rules that are analyzed and studied by experts, but the two most popular today are the 50/30/20 financial rule and the 6 jar financial rule.

Let's learn these 2 rules with lamchutaichinh as follows:

Apply the 50/30/20 . rule

This is probably the most common rule, suitable for many individuals. According to this rule, your income will be divided into 3 parts with 3 different uses.

50% of total income is spent on essential needs in life such as eating, living, electricity, water, internet, etc. For some other individuals, it is housing.
30% of total income is spent on personal spending needs such as travel, shopping, study, entertainment...
The remaining 20% is spent on developing personal financial goals such as investing in real estate, securities, buying insurance, investing in gold, investing in knowledge, expanding necessary relationships...

Apply the "6 jars" rule

Different from the above rule, here you need to divide the income into 6 parts with 6 jars with different uses:

The first jar: you need to spend 50%-55% of your total income on essential needs in life such as eating, living, traveling, electricity, water, internet, and sometimes money home.
Pot number 2: you need to spend 10% of your total income for personal purposes such as travel, entertainment, outings.
Jar #3: 10% of total income for the purpose of investment and knowledge expansion, sustainable development for the future.
Pot number 4: 10% of total income to invest in stocks, real estate, buy gold, personal insurance...
Pot number 5: 10% of total income for financial savings with the purpose of accumulating a large amount of money to buy a house, buy a car or take care of yourself if you want.
Vase #6: 5%-10% is used to participate in the word meditation, give and receive, good leaves cover torn leaves will make your life more meaningful.

Above, lamchutaichinh has updated 2 golden rules in finance to help you spend more rationally and economically.

What information does the Excel spending plan table need?

Excel is an extremely useful and effective tool in the process of creating a personal spending table for you. With the convenience of being able to use it on a phone, laptop or ipad, creating cells easily, you will love Excel from the first time you use it.

In the Excel spending plan table, you need the following necessary information:

Incomes in a month include salary, bonus, monthly overtime, support from parents, insurance money, gift, money from savings account, profit, loan... All sources of income that help you increase your income in 1 month should be listed in detail. From here you will compare the difference in budget and reality
Expenditures in a month include essential needs such as housing, food, living, travel, etc., personal spending needs such as travel, entertainment, investment, health expenses. , education…any expenses.
1 month income and expenditure summary table to see balance or negative for a month.

Instructions for making a personal spending table in 1 month using Excel

As lamchutaichinh mentioned above, Excel is an extremely convenient and easy-to-use tool. It is not difficult to make a personal spending table for a month in excel.

As long as you can firmly grasp the following steps, everything will become simple and familiar.

Step 1: On your phone, laptop or iPad, open the Excel application.

Step 2: Using Excel, create 2 columns corresponding to 2 contents: income and expenditure.

This is a careful step, you have to fill in full details of income and expenses in 1 month, to plan monitoring and implementation.

Step 3: Once you have filled in the information about the two revenues and expenditures, you need to use the utility calculations in Excel, for example using the sum command:

Select the Autosum box
Click and select the cells to be counted, drag them together
Click Enter to complete the result.

Here, when completing the sum command, you will receive the summation results from 2 columns of revenue and expenditure, convenient for control.

Step 4: After getting the summation result, you need to use income - expenditure, if the result is positive, that is, the balance you have this month, you can save or increase the spending % for 1 out of 6 jars . If the results are negative, that means your money is negative this month, you need to adjust your spending plan.

Step 5: Use copy - paste to calculate the results for the following months.

Conclusion

Above, lamchutaichinh has updated the latest information about the guide Make a personal spending chart for 1 month most detailed. Hopefully the information below will help you manage your finances in the most appropriate and scientific way. Good luck!

The article was edited by: Lamchutaichinh.vn