How do i keep track of expenses using excel sheet

There are a lot of free tools in the world of internet to help you keep track of your expenses. Personally, i like to use an excel spreadsheet with simple formula to keep track of my monthly income and expenses. I am not crazy to do daily tracking unless you have really bad money management.

As Wix has not enable excel or other documents to be uploaded in a blog post, i shall upload a few screenshots of my excel tracking sheet on my expenses and savings.

It is a 11-year plan for the tracking.

For the first screenshot, i will break down in the following points.

• The "B" column, i indicated one source of income and the column next to it is the after-deduction of your main salary from a compulsory savings scheme setup by Singapore Government. It's called Central Provident Fund (CPF)

• I will always pay myself first which is indicated on column "D"

• I also invested in Robo Investment platforms in Stashaway & UOB Utrade Robo, indicated in column "E" & "F"

• For me, i feel the importance of having 2 savings account to store cold hard cash so i came up with 2 columns in "G" and "H". I will explain these 2 columns in my next points.

• Account A - fixed savings account in column "G" is the "Do not touch unless need to" account. I will use part of it at year end for long term investment

• Account B - active savings account in column "H" is the account i will use for my daily life.

• As i use my account A to spend in investments, i will use my active account to top-up a portion (30%) into account A.

For the second screenshot, i will do the same as the first screenshot and break down in few points to explain how the excel formula works for this tracking sheet.

• For the first table, i tally up the amount of both savings account for every year until the end of the 11-year plan

• Every year, the cumulative will add on from previous year so the table does not show the amount for each year, it keeps adding up.

• If you are wondering where do i add up from, do refer to the first screenshot, every "year" sheet is the same format. On the right side of the sheet, i had tabulated the sum of each of the accounts, then on the summary page, i will just insert "=sum()" then click on every total value from every sheet.

• The second table from the second screenshot is to keep track how much i had invested my capital into the robo investment platform. The formula i apply on this table is also cumulative adding for every year.

In conclusion, this is relatively simple excel tracking sheet that only use 2 formula, which is "=sum()" and simple multiplication. This is strictly for reference, you may or may not follow exactly but once you start, you will realise how easy it is to track your expenses and other finance stuffs.

Have a nice day and wish for best prosperity to everyone!!!