#Sample personal budget pie chart how to

Then, choose Select Data from the menu.Now, right-click anywhere on the chart area.Immediately, it adds a blank chart on the sheet. Thirdly, select the Doughnut chart from the available options.Secondly, click on the Insert Pie or Doughnut Chart drop-down icon.And those take up less space while being completely expressed in the text. Charts are used to communicate large or complex amounts of data. A common technique for showing data linkages graphically is to insert a chart. We can insert a graph to visualize the 50-30-20 budget. Step 06: Insert Chart to Visualize Easily Read More: Create Retirement Budget Worksheet in Excel And, it will look Red while displaying the text Deficit inside the cell. When it exhibits Surplus, it will be Green. From the above picture, you can see a Green fill color in cell F10. Otherwise, we’ll see a text Deficit in cell F10.Īdditionally, you can apply Conditional Formatting in cell F10. If the value in cell G10 becomes greater than 0, then it will show a text sting Surplus in cell F10.

Here, the IF function inserts a logical test.

To do this, select cell C9 and enter the following formula.

After that, we calculated the Total Budget from the incomes.

Then, we inserted a new column for the amount under Column C.

In this case, the income sources are mainly office salary, overtime pay, additional income, and others.

At first, we created a column for sources of income in the B5:B8 range.

Here, we have used the Microsoft Excel 365 version, you may use any other version according to your convenience.Īt the very beginning, we’ve to make an income section where the total monthly income will be mentioned. So, let’s follow the steps to making a 50-30-20 monthly budget spreadsheet. But in this article, we will create a 50-30-20 budget spreadsheet in Excel from scratch. Excel includes a huge selection of budgeting templates.

#Sample personal budget pie chart how to

No matter how simple or complex the budgeting is, this step-by-step article will show you how to create a 50-30-20 budget in an Excel spreadsheet that can be easily customized to meet your needs. Also, you can set a goal for spending on each category at the start of the month.Ħ Steps to Create a 50-30-20 Budget Spreadsheet in ExcelĬreating a 50-30-20 budget in Excel could seem challenging at first, especially if you don’t use the application frequently. It is ideal for those who are new to budgeting. This spending plan is suitable for families, young professionals, and college students equally. Because this budget scheme is ideal for people who prefer simplicity. Now, let’s come to the matter of why the 50-30-20 budget is important in the personal monthly budget. Taking charge of your finances is a life insurance policy against unforeseen events and a career booster. Because it always reminds us to spend less than our earnings. The remaining 20% is then used for savings or debt repayment.įirst, we’ll talk about why the budget is important. 30% of the budget is allocated to desirable items. Here, you spend 50% of your income on the most important expenses (e.g. A simple guideline that makes it easy for you to take charge of your finances is the 50/30/20 budget scheme. Elizabeth Warren popularized it in her book All Your Worth: The Ultimate Lifetime Money Plan. The 50-30-20 budget is a fantastic basic budgeting method that offers advice on how much to set aside each month for certain expenses. Related Articles What Is the 50-30-20 Budget?