Excel is without a doubt the best tool for students when making a budget. Anyone who has tried to sit down and do a budget using anything other than spreadsheet software must be really committed to making that budget. I tip my hat too them because they really want to make a budget the old fashioned way. The problem with using pen and paper this is that these budgets are inflexible, everyone’s financial circumstances are constantly changing and numbers on paper just doesn’t cut it these days to help you understand the best way to structure your finances.
Why use Excel to Budget?
Exel is probably the best tool for helping you understand your finances you could possibly ever hope to have. Ok well I have not seen other software and im sure there are many that are just as good. Put simply the reason why you need spreadsheet software is so you can change the variables and see the effect it has on your finances.
How does that work?
For example at the moment I am looking for a place too move out and the cost of rent varies greatly for what I can afford and then I have to factor in the electricity, gas, telephone, mobile or any other expense that you might have. Through the use of spreadsheets you can just input the numbers and it feeds you the answers.
So…why is this important?
It saves you time, lots of it in fact. That’s of course assuming you spend lots of time on a budget. Once you have built a personalized spreadsheet tool you made for yourself, it will give you the answers instantly rather than having to type your calculations into a calculator and write out the answers. This time you save helps you to make better informed decision about your finances so you can have more money at the end of the day. I don’t need to convince you why you need extra money as im sure you already have some really good reasons! But seriously Spreadsheets are a must for budgeting.