A lot of my friends and readers have asked me, “What does your expense sheet look like, Melissa?” It is no secret and I am going to share that with you today.
If you have been following my blog, you will know that I put most of our spending and expenses on our credit cards to reap our rewards.
On my expense excel sheet, I put what the expense is and how I pay for it such as an example:
Mortgage (BOA): $1,000
Gym (CC): $25
I put what the expense is, what it’s paid with, and how much it is.
BOA stands for Bank of America.
CC stands for Credit Card.
This allows for me to keep track of what goes on my credit card and what goes through my bank account.
When something gets charged on my credit card, such as the gym, I will highlight it in yellow because it’s paid on my card but it has not been paid through my bank so technically, I still owe for that amount. Once I set up payment on my card to pay through my bank, I then mark it green because it is now fully paid. This is how I keep track of my expenses and always know where my money is.
I have provided a blank sheet of my expense sheet that I created for you all to use. This expense sheet has saved my friends hundreds, if not thousands of dollars because they get to see where all their spending goes. I hope the formulas populate over, if not, please reach out to me. They are very simple equations. You will change on the expense sheet what your bills are as well as spending. On the left side, it is my necessities and things that I pay the same amount every month. This side tells you approximately the amount that you will need to spend each month. These are your fixed amounts. On the right side is all other spending such as groceries, tithing, savings, etc. This will tell you how much you are spending extra compared to your budget. This number will hopefully let you see how much more you are spending. These are your flexible amounts because you may or may not be spending the same amount every month. If you ever get stuck or confused, please reach out to me in the contact form and I will be more than glad to help you. This takes a while to get used to so if you don’t get it on the first try, don’t be discouraged. This takes practice and once you get it, you’ll get it!
https://drive.google.com/file/d/1G_HOMMPWSMbM6YPqRajpaTyalJ_2UWnB/view?usp=sharing
Sincerely,
Melissa Lee