Need help with your budgeting? Here are some resources that might help:
The best website I’ve found for financial calculators is MyCalculators
The calculators here are easy to use and will cover just about everything needed, and they’re pretty easy to find.
Another calculator site I’ve used for a long time is DinkyTown
This site has more calculators than any other site that I’ve seen. Lately I’ve noticed that the formatting on some of the calculators is a little funky. If you’re creative, you can figure it out, but the site doesn’t seem to be as well maintained as it used to be.
Here is an Excel Template that I use myself. Since it’s in Excel, you can modify it yourself to fit your needs. It has a number of spreadsheets, including:
Cash Flow Planning [Sheet: CashFlow] Use this form for your monthly income and expense tracking, if you have consistent income. Use the Envelope Balance column to keep track of what you have reserved in your physical and virtual envelopes.
Allocated Spending [Sheet: AlllocSpend] If you don’t have enough income to cover your expenses (so you need to draw “the line,”) or if it’s inconsistent, use this form to track income and expenses.
Income [Sheet: Income] Use to calculate your total known income.
Savings [Sheet: Savings] Use this to list all accounts and amounts in each account. This is part of your net worth.
Net Worth [Sheet: NetWorth ]
Use this to calculate your net worth. Don’t stress over where it is right now. This gives you a baseline so that you can set goals for the future.
Emergency Fund Calculations [Sheet: EmergCalcs] Use this sheet to figure out how much to put into your 3 – 6 month emergency fund.
Retirement Calculations [Sheet: RetireCalcs] Use this to figure out how much you need to save before retiring, and when you can retire.
Note: These are in .xlsx format. If you need an older version (if you’re using an older version of MS Word, MS Works, or a Mac), please send me an email.