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How to use Excel for budgeting?
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Start by creating a list of your income sources, such as salary, investments, and freelance work. 2 Next, create a list of all your expenses, including rent, car payments, and utilities. 3 Then, set up a formula in a separate column to calculate the difference between your income and expenses. 4 Next, create a budget by categorizing your expenses and setting limits for how much you can spend in each area. 5 Now, use excel's functions to track all the data you've entered and create reports to evaluate, visualize, and compare your budget to actual spending and income.6 Finally, take action by adjusting your spending or setting and adjusting financial goals, such as saving for retirement or building an emergency fund.