I have read and understand the spreadsheet disclaimer. For any mods wondering, I used a fake name. No worries
Figured I should make this for those who want it. All numbers are generic. The most crucial sheet, to me, is income allocation but the rest are important as well. MAKE SURE TO CLICK DOWNLOAD ON THE FILE. DO NOT TRY TO CHANGE ANYTHING.
Sheet 1 : Income Allocation. Consists of anything and everything you would need in terms of managing income. I included the allocation flowchart located in this pages wiki. I have labeled everything for you and even supplied some figures. Change it to your numbers and google the effective tax rate for your salary in your state. It is set to Georgia by default.
Sheet 2: Budgeting Pie Chart. Exactly what it sounds like. At the end of the year it will give you a nice pie chart in terms of where your spending went. Each day just put the expenses into each category or make your own categories. It will also prorate your spending if it continues for the rest of the year. For example, I am on track to spend 40K in 2021.
Sheet 3: Generic Numbers but on the first of each month go in and change the account values for every account you have. It plots your account values along with net worth. Towards the right is retirement planning, adjust whatever you need accordingly. Unfortunately if you have rental properties it may not be as straightforward but it is a nice start. For those of you who have money both independently and with an advisor, the "outside investing" is the money you aren't paying that advisor fee towards. You can adjust literally any of the light yellow numbers. The left most column shows how much you would have if you solely relied on investment returns and didn't contribute any from your salary.
You can use as much or as little of this spreadsheet as you want. I've been using it this year and it's worked out very well for me.
Link: https://docs.google.com/spreadsheets/d/1ROSnntzEuW4Giip__CFksTXZO7kD246B0fZrkeVBQf0/edit?usp=sharing
Submitted May 20, 2021 at 06:03PM by Samomac97 https://ift.tt/3oyLTmh
