Video: How to Set Up a Monthly Budget and Spending Plan

by Kevin on February 23, 2010

In my last post I promised you I would be writing about amended tax returns. I’ve put that to the side for a day to answer a reader question.

I’m answering that question with a video that you can find at the bottom of the post.

I’ve never done a video before, and it was kind of terrifying. Sort of like public speaking except the potential number of viewers is endless.

I would love your feedback on the video. Would you like to see more of this in the future?

How to Budget and Track Spending in a Spreadsheet

A reader e-mailed me a while back asking for some clarification on my budgeting and monthly spending plan strategy.

Here’s what they had to say:

I have recently rediscovered your blog. It helped me get started on my way to living debt free; I’m almost there.  But I am need to revamp my budget as it is still very simple.

I love your “envelope” method of book keeping and would like to set up something similar. After studying your blog I understand how your system and spreadsheet work; however, I can’t envision how to set it up and keep track of it electronically.

I have found some budget temples, but they are as simple as mine.  I would  greatly appreciate it if you Could give me some advice on setting up my spreadsheet possibly a screen shot of how you set up yours.

Thank you for all the wonderful ideas and information you have shared it has been and will continue to be great inspiration.

Thanks for the kind words, reader!

Just to make sure everyone is on the same page let me link to two separate posts. These posts detail out how we track our money in a spreadsheet. It is similar to using a cash envelope system except it is done all in a spreadsheet.

How to Budget Video

Here’s the video. You will need to click the “full screen” button to see the spreadsheet and numbers well. (The full screen button is the button directly to the left of the white vimeo logo in the bottom right.)

I also uploaded the example budget spreadsheet that I used. You can use it as a starting point for your own budget.

What do you think? More videos like this in the future? What topics?

{ 6 trackbacks }

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Matt Jabs February 23, 2010 at 8:43 pm

Great video Kevin… I think you should consider doing more video tutorials.

Keith Morris February 23, 2010 at 9:19 pm

I agree with Matt. This was awesome. Very easy to follow. You should definitely do more. Have you used YNAB? The process is very similar. Fortunately, creating a spreadsheet doesn’t cost anything.

Keith Morris February 24, 2010 at 11:47 am

Suppose a person doesn’t yet have that buffer in their checking account that will allow them to cover their expenses with last month’s income. What process would you recommend they use with this spreadsheet to begin making the transition?

bobd February 24, 2010 at 7:43 pm

Pretty good video…thanks

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