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Why Making Your Own Money Spreadsheet Is A Good Thing

Sunday, August 20, 2017

 


Make Your Own Money Spreadsheet, and Here’s Why

There is a lot of information at your fingertips when you go online. This is great for research on any topic, from female empowerment to closet organization. But when it comes to financial planning, taking more of an “old school” approach can be the best method.

Getting More Involved

The reality is that when you do something hands-on, it usually helps you figure it out better. Thus, when you build a financial spreadsheet yourself, rather than getting one made for you using fancy software or using an app that you download onto your smart phone, you actually learn more about:

  • Your current financial situation
  • What your income is
  • How much money you need to save per month
  • And more !

Plus, imagine the sense of accomplishment that comes from making your own money spreadsheet. Yes, you’re demystifying that scary word called “money”. You’ll also figure out exactly where your money is going and, more importantly, how to curtail expenses that you don’t need so you can start to save extra money. Using an app keeps the concept much too intangible. The idea is to get your fingers dirty, so to speak, to dig around in your “stuff” so that you can create your own clarity.

Putting the Spreadsheet into Motion

You will likely find that spreadsheets aren’t as intimidating as they may have seemed at first. Keeping track of money is disappointingly simple. The reason we don’t do it is, that it is a scary thing to do. It means having to admit to oneself about what is really happening. That is why building your own tracking system is so powerful. To build it means having to identify and acknowledge the components that drive it. That is half the battle. A problem well stated is a problem half solved.

And… the good thing is you can reuse the document you build year after year, simply tweaking it as your income or expenses change with time.

So go out and give it a shot. I am happy to help, just shout out.

Before you go

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