Want to plan your budget weekly or bi-weekly in advance?
Weekly Budget Template helps in allocating the budget for the one week or bi-weekly for various expenses at the start of week and then calculates the difference at the end of the week or even at the end of the month. You can allocate the budget for a week or bi-weekly and record the actual amount being used against each category during the week. This difference of the allocated budget and the actual budget incurred gives the total expense incurred. One can easily allocate budget for a category of the expense and record the actual cost incurred for that category during the number of weeks in the month it may vary between 4 or 5 weeks.
The cost of each kind of expenditure is populated to calculate the weekly projected end balance. The spreadsheet records the entries for all sorts of payments or expenses that you may incur. We recommend you to update this sheet regularly for monitoring the actual cost incurred against the budgeted cost in order to correctly calculate the weekly budget. The expenses section records different kinds of expenses incurred such as Home, Daily Living, Transportation, etc. The Bi-Weekly spreadsheet provides the summarized budget bi-weekly and also calculates the budget and expenditure incurred for all the four weeks.
Weekly Budget Spreadsheetfor Excel® 2003+, OpenOffice & Google Docs
Using the spreadsheet
Begin by downloading the template and recording your income details. Also allocate a budget for every type of expense at the start. This sheet should be regularly updated to keep a track of the actual expense incurred under each head. The spreadsheet Weekly Budget records the details of all the sources of income and the amount received through each source for the current week. The various categories of the income are:
- Interests / Dividends
- Refunds / Reimbursements
- Transfer from Savings
The sheet provides a weekly budget summary table that provides the details of the Starting Balance, Total Income and Total Expense and the net income and expense details. You can also get a detail of the projected end balance and the difference between the two. The set budgets for each kind of expenditure that one needs to achieve in order to have a good budgeting. The net value of each sub table is calculated separately. The weekly and bi-weekly analyzes helps to get a better idea of the overall budget targets that a person sets and the amount that he/she is able to actually save. It also helps to take better decisions on your weekly and bi-weekly savings and expenditures. The template also provides the details of Month to Date income and expense values. The Projected End Balance of difference for the current week is carried forward as the Starting Balance of the following week.
The spreadsheet maintains the record of each buck spent during any week. Weekly Budget Template further has various heads and associatedtables for every sub category. The various categories are:
- Daily Living
- Dues & Subscriptions
- Financial Obligations
- Miscellaneous Payments
The Bi-Weekly spreadsheet gives the summary of the Budgeted Amount and the Actual Amount on a bi-weekly basis. The Net Projected End Balance for the all the weeks of the current week is also calculated automatically in this spreadsheet. The Net Balance is calculated by subtracting the Total Expense from the Total Income and adding the Starting Balance to it.
What does the "Projected End Balance" value mean?
The Projected End Balance is the amount of money you can save in a week from your income. The value would be achieved if the budgeted goals have been attained for the expenses that are incurred during the week.
What is the importance of a Weekly budget?
Weekly Budget Plan helps in achieving your savings targets. The expenses can be assessed on a daily basis and a decision could be taken immediately to avoid any unnecessary expenses that would hinder the process of saving or would hamper your budget in a long run. It helps you to have a control over your financial future and makes you secure.
Function used in template
- SUM(number1, [number2], [number3], [number4], ...)
- IF(logical_test, [value_if_true], [value_if_false])