Som Karamchetty, PhD,  Technology & Management Consulting and Business Counseling
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Work on your Budget 

Preparing Your Budget

Developing the habit of preparing a budget, monitoring it, and modifying it if and when necessary is important if one wants to live happily without a debt in your old age.

Here is a Template that helps you to prepare your budget. It is a spreadsheet that you can download and it tells you if you will save any money by the end of the year or you will be in debt.
In the current spreadsheet, it is the Cell N135; if it is positive, you are doing good; If it is negative, you have to adjust your budget such that you can start saving, if you can.

If you like a PDF version, Click here.

Please note the following:


The current numbers in various columns are only samples.

You have to type in your actual or expected numbers in all cells that are in Yellow color.

There are formulas in cells that are Blue in color. You should not change them.


You may add more rows if you need for any additional income or expenditure items of your choice.

There are redundant items as this is a general Template.

For example, it shows alimony for both spouses, which is unlikely.
It shows both home mortgage payments and house rent, which situation is also unlikely.
Choose that which applies to you.
If certain items do not apply to you, you may delete those rows or make all the entries in the Yellow cells in those rows zeros.


This spreadsheet shows currency in US Dollars. You may change Cell Format to show the currency of your choice.

As you maintain your budget for several years and compare it with your actual expenses in each category, You will realize where you can alter your expenses and improve your yearly savings, which you might need as you get older. In fact, it is worthwhile building a budget for your senior years and see how you will manage a good lifestyle. You may add some obligatory savings as rows. (I am leaving that as an exercise for now!)

Note 1: This spreadsheet was prepared by modifying one that was available from a website for seniors.
Note 2: This note and spreadsheet are presented just as a suggestion.The developer and poster is neither an accountant nor a Financial Planner. He assumes no responsibility for the consequences of the use or misuse of the contents here.
Note 3: Feedback and suggestions are welcome.
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