# Budget

Discussion in 'Business Applications' started by metallica5456, May 7, 2017.

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Andrew
I wanted to know if any of you guys could help me with creating a budget sheet in Excel 2010 to track all the different people I owe money too and how much I have paid and remaining balance, with dates for each entry. Thanks in Advance!!

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Hans
Hi, welcome, have you taken a look at the default templates that Microsoft offers?
Here's a link you might find useful: https://templates.office.com/en-us/Personal-budget-TM10000134
There is no secret for how to do these things, simple common sense should help you along.
A column with the persons name, a column with the amount to borrowed, a column with the amount you have paid and a column with a formula subtracting the amount you owe - the amount you paid and a column with the date you paid the last time, then you can add as many columns as you like, date loaned, date expected payment etc. etc.
No magic in that, write it down as you would on paper.

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Yea I figured that. What I wanted help with is creating the formulas and stuff...that's what I'm not familiar all too well with.

4. ### SixShooter14

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James
I've made Amortization charts to see when I will pay off my truck depending on my monthly payment. I would assume tracking balances would be something similar.

I usually have a column with current balance. And a column with payment, then balance after interest and payment

So a debt (P) plus interest (APR) minus a payment (M)

=P + ((P× APR)/12) - M

Looks like this in Excel:
Column A is my running balance.
Column B is the amount of my payment applied towards principle.

That's just the way I do it. I'm sure there are better ways.

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HEY THANKS!! That's a great idea!! I'm going to try that in a few days when I have some spare time.

6. ### SixShooter14

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James
For amortization such as this. I would recommend making the payment and maybe APR a link to a fixed cell. (\$col.\$row) that way you can adjust 1 cell and the table is updated for this. So if you decide to change the monthly payment you can see how it affects the pay-off. Same with interest.

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Hans
I'm no good with finance and you've got a great answer here from James.
Happy coding

8. ### Pedro15

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For what its worth he attached spreadsheet shows the individual amounts of Principal and Interest and the remaining term.
Using the NPER function in cell I2 is pretty close to that shown in spreadsheet for term of loan

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