![]() The benefit of doing it this way is that you are creating a history you can go and look back on. Rename each new sheet according to the month you are updating it in. You can set up a password by going to “File” > “Info” and then selecting the “Protect Workbook” box, followed by “Encrypt with Password” and follow the instructions.Ĭreate a new sheet for each month by making a copy of your previous month’s sheet and deleting the values that will be updated for this month. This workbook will most likely contain very detailed personal information which you might not want to fall into the wrong hands. Securing Your Budget Workbook: Protecting Your Financial Details and Tracking ProgressĪs part of the initial step of setting up your budget workbook, make it a priority to take the necessary measures to secure it with some sort of protection such as a password. Secondly, it can easily be updated on your phone or another device making it much easier and efficient to update or check. Firstly, it will ensure you don’t lose it if something happens to your computer. It is highly recommended that you save it on a secure cloud feature as this can have two important benefits. Step one is creating a new workbook and saving it somewhere you can easily find it, such as the top right corner of your desktop, since it will likely be a workbook you open on a regular basis. The template provided and the sections in this two-part series of articles, speaking to this template can of course be used only as a guideline that can in future be built on or changed to accommodate your situation. The reason that Excel is such a useful and powerful tool, is that it allows you to fully customise it and create something that fits your personal situation best. Unlocking Excel’s Potential: Tailoring Your Workbook to Your Needs Although there are a few tools available to assist in this matter, Excel has been one of the most robust and commonly used tools to keep track of financial matters and for building a budget. The best way to do this is by starting to keep track of your financial behaviours and setting a realistic budget that will guide your decisions. ![]() The importance of taking ownership of your finances and being pro-active with your spending and investing cannot be emphasised enough.
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