Households often prefer managing their incomes and expenditures through proper budgeting. More precisely, rather than maintaining a monthly budget, many people often maintain a semi-monthly budget for their home. This detailed budgeting helps them in improving their financials effectively and efficiently.
However, it is not easy to manually handle all such details and a pre-designed template is always a better option rather than preparing one yourself. This is why people often choose semi-monthly home budget template of Excel for managing their incomes and expenditures.
What is a semi-monthly home budget template?
It is a template of MS Excel, having various worksheets, to manage the semi-monthly home budget in a detailed manner. It is a pre-designed template that has incorporated all the required details which can even be customized easily. This is why this template is often the choice of most of the people who want to maintain and manage their budgets and financials.
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[OpenDocument Spreadsheet .ods] [Size: 30 KB]
The first sheet of the template is named ‘start’ which offers an overview as well as it briefly describes the usage of the template. The sheet named ‘expenditures and income’ contains details, including date, description and amount, of all the incomes and expenditures throughout the year. The ‘dashboard’ has details of bi-monthly, monthly and yearly figures along with the bi-monthly pattern graphs. One can choose the desired month by clicking on the arrows to see the monthly figures for that particular month.
The ‘data lists’ has all the categories of expenses listed in it along with the sub-categories. In the worksheet called ‘budget report’, one can see the bi-monthly totals of all the expenses along with the sub-categories in addition to the generated graphs.
These graphs can help the household people to analyze their expenses and manage them appropriately.
The bi-monthly graphs can indicate the trends of expenses in different months so that income can be matched and managed accordingly.
Because of the details present, this template can prove to be useful for maintaining the bi-monthly, monthly and yearly budgets as well as managing incomes and expenses. In addition, it may result in better financials and savings of a family.
How to use the semi-monthly home budget template?
This MS Excel spreadsheet is readily available to be downloaded. After downloading it, the family can customize and update it on the basis of the categories of their incomes and expenses. After this, the template is ready to be used.
The details of all the expenses and incomes are continuously updated throughout the year based on their occurrence in the ‘expenditures and income’ worksheet. The inbuilt formulas then automatically calculate the bi-monthly, monthly and yearly figures in the ‘dashboard’ along with the generation of the bi-monthly income and expenses graphs.
In the ‘data lists’, the categories and subcategories of house expenses are updated and modified. The inbuilt formulas and the designing of the template would then generate the ‘budget report’ that highlight the expense amount in each category along with the expense amount in each sub-category.
In addition, this worksheet generates expense graphs for all the categories. These can be utilized for analyzing the family’s financial condition as well as improving it.
Benefits of the semi-monthly home budget template
There are many benefits of using this template for the families. The benefits include:
- It is easy to use, customise and update.
- The first sheet called ‘start’ gives a brief introduction of the template and its usage so that if the user gets confused at any stage of using the template, he can always refer back to the introductory sheet.
- It allows in recording and tracking details of all the incurred expenses as well as all the income generating sources.
- It records bi-monthly, monthly and yearly data which allows it to give a detailed picture.
- The detailed information present can help in better management of finances.
- The bi-monthly trend graphs and the detailed graphs of the expenses may help in analysing and managing the financial position of the household.
A lot of people utilize this template for managing their income and expenses on a bi-monthly basis.
We hope that we have helped you with this article and the attached template in maintaining your semi-monthly budget for your home. If you have any questions or want to give feedback, please write to us. Thank you!