Being aware of different potential strategies is useful for those who hold funds run by a fund manager, as it may be better to pick managers with a range of strategies as part of a portfolio of funds, creating a more diversified portfolio.
I don’t know what I was expecting when searching up “how to make a budget on excel” but this is definitely YEARS better than what I anticipated, thank you so much🙌
My partner and I have been really struggling with finances lately for a multitude of reasons and it's been really negatively affecting our mental health. We've never been well off anyway, but we feel like we're not making progress with our finances. I've spent the last couple of days setting up my log and dashboard following your videos and they have been so useful and easy to follow! I've set my log to start in July... that gives me a little bit more time to get everything set up and get our budgets properly figured out. Thank you so much for these resources! ♥
Thank you so much for this helpful tutorial. Expense-tracking apps leave much to be desired especially when it comes to customization but Excel, when you know how to use it, can be such a powerful and flexible tool!
Please, please make more videos. Your videos are so much more interesting than any others that I have found. I especially like the encouragement that you give. Thanks
Someone get this man that freak in the sheets mug. Thank you! I've been so scared of building my budget in excel and this is amazing. Subscribed as a loyal follower! Thanks!
Wow, this would otherwise be a course I'd gladly pay for. It is mind-blowing how much automation you can get out of formulas. Great video series bro. May God bless you abundantly.
Nice, Glad you mentioned about the pacing to make a listener aware that they can pause the video and use the information in the description area to find the formulas.
This is a good start for anyone that wants a simple dashboard. You can add an budget planner table/tab and have values linked to the correct portion, then can make it so you can select and sort each expense. It's easier to have a set number of rows, or you can do a header with two rows min (paychecks) then have a formula that dynamically alters the table. That can get complicated though.
Hey man, this is perfect!!! You should keep going with this RU-vid thing, you’ve got a gift for being able to teach Excel to the average person while still getting something useful done. Most channels assume proficiency or are simple beginner tutorials of the basic functions (with no end goal in mind)
Hello~ thank you sooo much for this video!! Just wanted to point out, but the Step 1 Formula in the description is different from what's told in the video, here's the correct one: =SUMIFS(Log!$E:$E, Log!$A:$A, Dashboard!C$3, Log!$D:$D, Dashboard!$B5)
I still cant get Step 1 to work :/ I am using =SUMIFS(Log!$E:$E, Log!$A:$A, Dashboard!C$3, Log!$D:$D, Dashboard!$B5), and the one in the description but no values are input to cells C5 and C6
This works great, it took me a few hours and several mistakes, but I was able to build this spreadsheet and it works great. I have been wanting to make a budget, you showed me how and taught me so much along the way. Now I am going to watch the remainder of your tutorials you have uploaded. Thanks for taking the time. G
I was working to the older tutorial when I went through the comments to answer a question that I'd run into, and partially solved. then I saw this excellent new video, huzzah! The question I was going to answer, which had a reply from Work Smarter himself, involved tracking Credit Card accounts, and other accounts too, with this spreadsheet. Being an amateur/beginner/low level excel wizard, I was able to do so roughly. And figured I'd share my results. I also expanded it to work for bank accounts and investment accounts. I added five columns to the log, between Debit and Balance. These are, from left to right: Credit, Revenues, Checking Account, Credit Account, and Investment Account. Credit and Revenues function just like Income and Debit. You input numbers here. The account tabs hold the names of your various accounts. Again, very straightforward. The reason these are separated is important! On a use of credit, I want to be able to associate credit expenses with my credit limits automatically. But if I have Credit and Debit accounts sharing a tab, there will be an irreconcilable moment where I have to simultaneously add and subtract from two accounts in one tab. You can potentially combine Checking and Investments, but having done Credit first, I decided to avoid potential headache. In the Dashboard beneath monthly Debit, I add three new sections. Credit, Accounts, and investments. Credit is the simplest. In the Income/Debit monthly tab, you put your accounts in. In the Total tab, you SUMIF the relevant account, and you're done. Conditional format just like the others to represent credit utilization. A quirk of this system is that you have to input a Debit charge, and a negative Credit amount in your credit card payment, to avoid having to do two-entries per one Credit Card payment. Checking is next, beneath Credit, and it was slightly tricky. But you can get your bank accounts working with the same number of SUMIFs with the extra account column. I have this compare to the withdraws on the account, and I use a Conditional Formatting statement with the three-color flags to represent a desired baseline amount/savings in each account. After that is Investments, and that actually requires an additional SUMIF to do neatly, and automatically. An extra sumif hunts for a specific Description that signifies when you investment, versus the total income from the investments which will pick up your compound interest which you'll include with any other descriptor. I then take the difference of these two to calculate the profit margin. I wanted to reformat this to display as a percentage of overall passive gains, but current dollar amount will function for the time being. These account parameters mean that in the yearly tabulation, you will need to treat Income from Paycheck and income from Investments differently. I colorcode my investments yellow, and you can extend the formatting across each easily. But you can't copy the same code from Paycheck to Investments. This also gave me room for two new charts ! I did a multi-figure bar graph for Investments Breakdown beneath the pie chart, and I did an Earning Trends area-line graph beneath the Spending Trends. I seriously encourage anyone to give this a try! If I could dot his, especially while following along to this video, anyone can! An all the same ideas still apply. It totally works on the yearly, just as easily!
This comment definitely deserves more attention. I was having trouble figuring out how to separate credit and debit as well as how to include my investments, and I believe I've found my answer! I'll give this a go when I have the time, THANK YOU for this great idea!
THANK YOU SO MUCH!! This and the Automated Budget (Excel version) are two of THE MOST HELPFUL RU-vid vids I've ever watched. All set up. Great info & easy to follow along without going too fast or unnecessary chatting. Fantastic!!
This is absolutely awesome! Already created the automated budget for 2021. Now I am going to add this to it and create a Balance Sheet plus a Cashflow Statement to go along with it!! Thanks!!!
Working on my 2021 Financial Tracking with this one. And making "Work Smarter and Not Harder" my mantra for the year. This channel is definitely one of my best discoveries in 2020. Thank you and keep your pretty cool and brilliant videos coming...
I love the budget & dashboard videos! Watched last night & already working on implementing! I’d love to add a sheet for debts to pay off, like the snowball method. We also have multiple home businesses to track & question ourselves with how to keep everything separate, in an easier way. Right now, we transfer by “robbing Peter to pay Paul” & then our transactions get really complicated to follow. Thanks for your help!
I'd like to add to this suggestion. Can this double as a check register? I would need to add a column for check # and one to check off transactions cleared from the bank. (checks and online scheduled payments)... Can I add columns to this without messing up the formulas?
@@whyworksmarternotharder I have a question is they're anyway to keep the file from slowing down. since I add the new formula its been slow on updating and populating the information.
One tip for which I don't have a solid "this is how Excel will definitely do it": You can use a table that's resizing as you go. This might save a LOT of diskspace. Sure, such a file might just be a few 100mb big, maybe 1gig one day but I was able to size it down to just a few kilobytes. Also, it saves immensly on processing power as Excel doesn't have to update the rows to infinity but has to update just one row at a time thus making the spreadsheet faster to work with. Sure, these are all minor things but I think it's much better this way. Also, hiding the month and year column clears up the table even further and these don't need to be visible all the time as they're automated.
Both your videos on budgeting are great and I am now a subscriber. I would love to see a video on how to create a forecast based on future income and expenses. This closes the circle by showing how current decisions impact future cashflow. I have not be able to find a good alternative to quicken, which I no longer use and my excel skills are not so advanced. Thanks again!
This video was great. I spent a year working with subscription budgeting tool only for random expenses not to pull over into the software throwing my totals off. Then it was a needle in a haystack to find which entry was missing. I decided to go back to Excel and then found this free video showing me how to do all the features most important to me--that I was paying a for in the other tool! Final question (I think) how to roll over the month on dashboard Month to date? Thank you for all your help. My budget is off to a great start for 2021!
I actually learned a lot about excel formulas from this video. With the SUMIFS feature I can a feature where I can track my finances in different accounts (Tracking Bank Account 1, Bank Account 2, Cash, etc)
That helps a lot. I was able to add a saving row as well. I have integrated the saving to the Month to date and Year to date dashboard. Thanks for this video. What I was looking for.
On the dashboard I added a "Data Validation List" to the Year. Now I can select the year from a drop down menu. Made it a little easier to switch back and forth between years
Thank you so much for the video! It helped me a lot. I have just one question: How do you take transfers from one credit card to another out of the 'expenses' or 'income' category while making sure, the balance adapts?
Excellent explanation and very useful. I have a question, though: how can I change the income/expense budget amounts from one month without altering the same in the following/previous months?
thank you so very much for this amazing VLog on "personal budget dashboard/Budget spreadsheet/personal finance. Sure will use/apply it on a daily basis for my business. God Bless!
You are really good! I've learned so much since I watched the one before this. smh. Freaking months on RU-vid trying to get a better grasp on some of the basics on Excel. I'll go through this one until I get it and reach out if I have questions. I truly appreciate you. If possible can you work on doing a video on mail merge?
Thanks for this video; the best out there. The only thing which is unclear to me - is why as criteria in the SUMIFS function for income, you were using 'description' whereas, for debits, you used "category". I've applied "category" for both, and it worked out, well at least I hope it did:)
I love these videos!! I was wondering if you create a video showing how to create a life budgeting sheets. Creating budgets for habits, keeping track of calories, pages in book read, goals and such. I didn't realize how much could be done with excel and Google sheets it's inspiring as I like to keep track of everything I do. Especially being a day trader/ swing trader I would like to document my progress in all forms and see various from trades based on technical factors as well as mental factors. I believe this would give me the ability to take myself to higher level in life. I really appreciate these videos! Thank you so much! 😊
Great video! I have a question regarding the Month to date section of the "dashboard"- I have imputed the formulas correctly, over and over again and have used formulas others have commented to adjust the description steps. Either way, my "paycheck 2" always sums to zero. and i have been using this formula: " =SUMIFS(Log!$E:$E,Log!$A:$A,Dashboard!$C$3,Log!$C:$C,Dashboard!B6 " Does anyone know how I can fix this? I'm enjoying my personal finance journey and have really enjoyed working through these videos! What a great resource! However, I'm finding it a little bit frustrating! Thank You!
Sooooo... I have a keychain of the excel document icon that has “I-no-idea-what-I’m-doing.xtml” as the doc name... I am so glad I found you by looking for budget tables in the search on RU-vid! 🖤
This is great! finally I've found what I was looking for. I have basic Excel knowledege and your video have made it so much easier and explanation is on point. I've completed the budget, savings and dashboard part. Thank you, you've help me a lot. Looking fowarde to learn more from you.
This is a life-saver!! its amazing, do you think you could make a video on a stock/investment table thrown into this dashboard? Because I would to create a data table tracking my stocks
What a lovely lesson for me this evening I will spend a couple of my minutes trying the lesson out. Is there one that can help a Landlord manage rental property?
How can i download your videos on youtube premium? Thank you so much for all of your hard work of putting these videos together. I am learning so much from you!!! You are amazing!!! 🥰
Love the lay out, visual and function, this is kind of what I was looking for. I wanted to ask what would be the best way to be able to track different bank accounts with this spreadsheet?
Could u please make video showing how to divide a debit transaction for a credit card payment into different categories, and then how to set that up to see the running totals for each category as well as the dashboard categories? Thank you so much. Very helpful info.
This is so cool, you are so smart, this is just what I was looking for, it's going to take me a while to get the hang of this but I'm going to do this, yes it is fast but that's what they got rewind for, lol, now i'm going to see if I have google sheet or excel spreadsheet on my Ipad, thank you, oh new subbie !
I love your spreadsheet...but it has one key design flaw, a cardinal sin in Excel modeling. You hard code your numbers in the progression bar and the expense category names in the drop down list...when it should reference the cells where the information is drawn from. That way, when expenses change, or budgets change while creating and modifying your budget, you don't have to go into the original formula to change the budgeted number...or add or delete an expense category. I did it myself, and it makes editing my budget even more easier...
I have a version on google sheets a bit different. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-WRWg8mpIWpY.html. If you don’t want the fuss you can get a pre made version www.etsy.com/listing/1252378574/
Thank you for your video, I am having a problem with the SUMIFS formula. I have been following along with your steps exactly but my SUMIFS total outputs as zero. any suggestions? Thanks in advance.
New sub here!! As many have said already thanks for doing these videos I was frustrated with the apps for budgeting and I was thinking of doing one on excel then found your videos and they have been very helpful and informative!! I now have a great working budget that is tailored to my needs!! So Thanks again and have a great 2021!!
Could you do a follow up video about rolling this budget over at the end of the month? Particularly how does that work for the dashboard page? Thank you for all your help. My budget is off to a great start for 2021!
Love your training for Google Sheets and Excel but is it possible to add a net worth tracker to the budget spreadsheet on a new tab that would pull data from the budget sheet into the net worth. I have two 401ks two IRAs and would like to have my budget and net worth all in one location? Great videos! thanks
I Love this excel sheet! Game changer. Yearly planning/ tracking is key! Can you show a similar sheet that allows you to track things like credit card pay off goals, savings goals? Also, one missing element.... what if your budget by category varies each month? Any options there?
Hello, awesome tutorials! I watched your budgeting for google sheets video, but I prefer the way this one (for excel) is set up. Would it be possible to mostly follow this tutorial to replicate it in google sheets? Thank You!
I like the Month to Date feature which matches what I like to track in my budget at a glance. It does not appear to be a feature on your extended template.
Really Great Video! So helpful to learn and avoid some paid apps. cherry on cake would be an update with the split by expense owner ( wife, children.....). In all cases, thank you.
@@robbiescheers9643 yes. Right click on the month column. Click insert. Then in cell A2 type =year(c2). You may have to copy that formula down the row.
Love how this can happen in excel as I have done a similar version of this but not as coded ad this one is... I am having a lot of trouble with the year to date boxes with the formulas used in the video plus in the description! I am thinking of just using my similar which has less coding in it but don't want to ruin the file. Any suggestions? My formulas I have now getting a $0 amount are =SUMIFS(Log!$E:$E, Log!$A:$A, Dashboard!G$4, Log!$C:$C, Dashboard!$B5) and =SUMIFS(Log!$F:$F,Log!$A:$A,Dashboard!G$3,Log!$D:$D,Dashboard!$B10)
This is an awesome tool. I have one question. If I started using it in February, wanted to backtrack and start on the first day of the year and wanted to insert lines above the first line, in the log sheet, is there a way to do that without messing it up. Excel does not give the option of insert in the table. Am i just stuck with redoing the log sheet?
Blow money you say?? I hear you loud and clear ;-) Jokes aside, this is an excellent template and have been looking for something simple and manageable to track! I've used apps before, but this is far better as it teaches you the tools to create your own budgeting spreadsheet.
@@whyworksmarternotharder Is there an easy way on the Log Sheet to add an extra column w/ a dropdown future to track multiple checking accounts? From the dropdown table, if I chose another checking account, it'd completely refresh the entire Log Sheet to accommodate checking account X ? Apologize in advance if that's confusing.
