 Hi there, it's Shane and in today's video I'm going to show you how to make a budget and excel in a consumer culture where we're constantly bombarded by Thousands of advertisements every single day. It's very easy to lose track of your money And while creating and maintaining a budget is hardly how most of us want to spend our free time It's one of the most important skills that you should learn now I've tried out dozens of different budget templates over the years and the one that I'm going to show you is by far the best minimalist template for Excel and this is going to work for 99% of people whether you're a complete beginner You've been using budget templates for a long time It's going to work very very well for you and make sure that you watch the video all the way through because I'm going to go over Some of the common mistakes Some of the biggest points that come up and how you can modify the template to suit your needs and by the way This template is available down in the description I actually found this from another youtuber when I was searching for the best template for myself It was one of the dozens that I downloaded and tried myself I think that you have to enter in your email in order to get the template I just used a burner email So if you want to click that link down in the description and follow along as I go through this You can or if you just want to follow along just to get an overview and then click the link later on and then go Through and watch the video. That would be a good idea as well. So without further ado, let's get started I'm going to head into the computer. Hi guys in the computer now And as you can see this is the budget template So over on the left side is where all the numbers are going to be This is where you're going to input everything on the very top left You're going to have income and then expenses are going to be below that on the right side You'll notice that there are several different types of graphs This is a pie chart and it goes over all of your different expenses and then down here You're going to have monthly budgets and yearly budgets So you can really get a good idea and see everything from a bird's eye view But this part of the bar chart is going to be your budgeted income These are going to be your expenses and then this is going to be the difference So this could basically be seen as how much money you can save or your discretionary income Depending on what your goals are and this is actually my favorite part of this particular template Because you really get to see a good visual representation of everything Now heading back over to the left here. You see that this is the income And this cell is going to be a little bit different when you download the template It's just going to say income right here, but you can change it to whatever you want So let's say that your name is Bob. It would be this or if your name is Shane You can change it to that So when you're clicking through the cells any cells that have a function Or some type of code up here. You don't want to touch them So anything to the right of this line right here. You really don't want to touch at all If you do it'll actually mess up everything You can however change these cells even though they're not white You can still change these cells But just to make it easy anything to the right of this line right here after D Do not change So as you notice, uh, this is the income on the top left And when you change anything in the white boxes that has a number It's going to change down here on these charts. So I'll show you Let's say that Bob Let's change this to Bob just to make it easy Bob's salary every month is four thousand two hundred and thirty five dollars from his job But let's say Bob picks up a side hustle So Bob's Side hustle So Bob picks up a side hustle for tutoring And just to make this very very obvious on the graph I'm going to say that's five thousand a month Now as you can see when I put five thousand a month this completely changed down here So the income went way up The expenses stayed the same because we haven't touched that And the difference Changed as well So we're going to go ahead and change this back to 50 and I'm going to press enter and you'll see that it changes Yep, it changed So let's say that you want to add another income in here You're going to go ahead and click on this cell right click and go to insert And we're going to call this We're going to call this Becky's side hustle, which is consulting Now as you notice here, there's a little bit of a drop down menu. You can click that You can either choose yearly monthly weekly or daily Usually it's going to make sense to go with monthly, but if this is let's say a yearly income You're only paid once a year you'd pick yearly or let's say you're only paid once a week you'd pick weekly We're just going to go ahead and go with Monthly So let's say Becky is making a thousand dollars a month from her consulting side gig So we click a thousand dollars a month there And as you notice nothing changed over here Not a single thing changed and the reason for that is because we haven't formatted the cells So the way that you would do that is you would click on a cell that already has the code The one right above it is the easiest to do And then you click on the bottom right and just simply drag down And then you'd do the same thing with the yearly And you probably noticed it changed let's go ahead and make this five thousand just to make it obvious And once I press enter you'll see a huge change here There you go Okay, we'll put that back to 100 So that works all the way down here and as you'll notice There are a ton of expenses here chances are every single expense you can think of is on here However, if there's another one you need to add Very easy to do that you would just go through the same process as you did with the income Come here click a cell right click and insert and then just remember to drag at the very end So moving down here to expenses As you can see we've got housing transportation medical utilities personal entertainment household giving pets insurance taxes debt reduction education and Savings let's say that your mortgage went up to five thousand dollars a month I'm going to go ahead and type that in here and before I press enter I want you to go ahead and look at the pie chart on the right And I'm going to press enter right now So it does take a moment to load But as you can see that is a huge expense. It takes up the lion's share of the pie chart And everything that you do here updates over here. It's very nice and that way you can see where all of your money is going So we're going to go ahead and do control z change that back to 1300 and as you see this changed And down here changed as well Now as you probably noticed at the very bottom All of your monthly expenses are added up for the month right here And then all of your yearly expenses are also added up for the year So for people who like to see just numbers and they don't care about visual aids You'd look at the bottom here now that you know the basics of how to use the excel budget spreadsheet I'm going to go over how you can actually look at your budget and see where you're spending too much money And that way you can actually improve your cash flow every single month You can save more you can invest more which will lead to you retiring earlier And just having a better life in general and that's the reason people budget in the first place Now as you can see moving down here when you come to the entertainment tab There's a few things that probably stand out to you Looks like bob is spending $300 a month on starbucks and $400 a month on avocado toast And if you look over to the yearly this is nearly $8,000 a month just on starbucks and avocado toast So if you were bob you would probably look at this and you would say okay I should probably cut down my consumption of starbucks and avocado toast now obviously some of these expenses are going to be fixed So an example of a fixed expense would be probably mortgage That's generally not going to change unless you get another house Or you refinance, but that's generally going to stay the same from month to month And an example of a variable expense that you can't really change Would be office visits. So you can't really predict when you're going to get sick So this is something that's variable, but you can't really change it unfortunately But you'd want to just look down this list and look for things that you can change So let's say you were spending a lot of money on starbucks avocado toast Obviously those are things that you can change So you could maybe cut that down to $50 a month and maybe $25 a month And then that's going to make a huge difference in your yearly spend And you'll see that that is reflected up here in the graphs Now that's a very obvious example, but some other examples that you could Find would be groceries car payments entertainment Spending money on amazon buying things you don't need from stores Etc etc etc Now you might have noticed a different tab down here at the bottom So if you want to get just a little more detailed with your budget This is a really good overview But if you want to look at it from month to month What you can do is you can just simply highlight everything here You can highlight everything here and you can either go control c command c on mac Or you can right click and go copy And then you can go down here and that's basically what I did. I created february But let's do a different one Then you'd go right over here and you'd go paste And as you can see everything is pasted in here And then you double click And you name it march So if you wanted to get a little bit more detailed, you can do this month to month And then you can see from month to month how your expenses are changing You don't have to do this, but it is very useful If you want to improve So when I was first starting on my budgeting, I did do the month to month Once I got good enough at it and I had a really good handle on what I was spending my money on I basically went back to just doing one single month and I stopped doing the month to month budgeting All right, this was a very very basic overview of a super super easy excel budget that you can easily use It's very easy to learn It's great for people who are visual Now these videos are very difficult to make they take a long time and I work hard on them So if this helped you at all, I would really appreciate it if you hit the like button subscribe button Ring little notification bell and then comment down below This was kind of a quick overview But if you want me to make a longer video where I get into some of the specifics of what you can do in order to Customize the budget for yourself Let me know and I will go ahead and do that I can also go over my own expenses if you'd like But other than that, I hope you have a fantastic day and bye for now