I include that FSA reimbursement as part of my husband’s income each month. Sometimes the FSA money comes in within the same week as my husband’s paycheck, as it did in August, and sometimes it comes the following week. We receive a (very) partial reimbursement for his pre-school fees twice a month from our FSA. We also set money aside in a Flexible Spending Account to help pay for our four-year-old son’s preschool care. When his paycheck clears, I type in the amount in the corresponding week. My husband (Income 1) gets paid on the 1st and 15th of the month. This is the simplest part of filling out our spreadsheet. Now let’s take a look at each individual component of my tracking: Household Income

After a few months of this habit, we had to decide whether to scale back our dining out spending, or increase that budget–or both. Between getting lunches at work, going out to dinner together for dates or as a family, or getting pizza or takeout on evenings when neither of us feel like cooking, we have a tendency to blow through our dining out budget every month. We use this monthly check-in to make sure we are on the same page and to increase or decrease any spending categories that might need it.įor instance, we tend to overspend in the dining out category every month. With the help of my husband, who uses Excel a great deal for work, I have set up the following spreadsheet to track our family’s income, savings, investments, and expenses:ĭuring the first week of each month, I print off the previous month’s page so that my husband and I can look over and discuss our finances. So without further ado, here is a breakdown of the system I use.Įditor’s note: even with all of the cool budgeting tools available today, the vast majority of my Masters of Money guests use(d) some type of modified Excel spreadsheet to track expenses or budget ( just like I did).

I mentioned to PT on our podcast conversation that I have an Excel spreadsheet that I use to keep tabs on every penny that passes through our family’s coffers, and he suggested I explain my system. So, it should come as no surprise that the detail-oriented piggy-bank counter has grown up to use a pretty complex system for keeping track of my household budget. As a small child, I used to empty my piggy bank, count everything that was inside, and put it all back in, feeling pretty good about my net worth as an 8-year-old.

Household budget spreadsheet template