The more knowledge you have of your finances, the better decisions you can make.
This is why I’ve put together a list of 8 free money management worksheets to give you great insight into your past, present, and future financial situation.
The first one is the most helpful budgeting worksheet I’ve come across.
Update: While you can certainly download each one of these money management worksheets, to save time I highly recommend you checkout Personal Capital.
Personal Capital is a FREE money tracking suite you can use to manage your budget and track your net worth. I personally use it everyday to help better manage my finances.
Summary: Created by Jeff Hughes, this spreadsheet attempts to duplicate the popular YNAB budgeting software. The idea is to give every dollar a job. Income comes in, you allocate that money accordingly. Then, adjust when needed. If budgeting hasn’t worked for you, give this method a try.
Bonus Worksheet: A just as powerful and similar budgeting process is Dave Ramsey’s Allocated Spending Plan.
Summary: Tracking your net worth gives you an accurate snapshot of finances. It’s a powerful motivator to watch that number increase. While I use Personal Capital (My Review) for it’s free net worth tracker, I also use a spreadsheet to calculate my net worth quarterly. There’s something to manually logging your account balances that gives you greater insight.
Summary: Deciding on a health insurance plan is a near impossible task. This worksheet makes it a bit easier. Enter your estimated cost of healthcare expenses subject to a deductible. Then see the crossover point of where a HSA or HDHP makes sense. Why is this useful? So, say you know there’s a large expense in your future, such as having a baby or an operation, this spreadsheet lets you see which plan is best.
Summary: It’s easy to confuse big purchases with emergencies. If you car with 200,000 miles on it breaks down and you need to buy a new one, is that an emergency? Or, should that expense have been planned for years ago? The Planning Future Expense worksheet is a handy checklist for going through potential big purchases in your future.
Summary: Looking to get out of debt? The Debt Snowball Worksheet from Christian PF helps you prioritize the debts to attack first. List each of your debts by amount, interest rates, and minimum payment. Then, get see debts to pay first, total interest you’ll pay, and estimated time to pay off.
Summary: At your current savings rate, how much longer is it until you can retire? To find out the estimated time until reach financial independence–the day you have enough money from investments to cover your expenses for the remainder of your life, check out Personal Capitals Free Retirement Planner.
Summary: Putting off investing? This worksheet shows how much that’s actually costing you. Say your desired retirement age is 55, in which you’d like to have saved $1,000,000. Assuming a 5% growth rate after inflation, this calculator let’s you see how much you’ll need to save per month pending your age to reach your goal.
|Age starting to save||20||25||30||35||40||45||50|
|Months to save||420||360||300||240||180||120||60|
|Amount of growth||$630,312||$567,442||$496,230||$416,106||$326,571||$227,214||$117,726|
|Ratio saved : growth||0.59||0.76||1.02||1.40||2.06||3.40||7.49|
Summary: You know where your money is but if something happened to you, does your spouse or loved ones know? Do they know where to find the account logins? Do they know the adviser to contact? This money management worksheet allows you or someone close to you to locate your financial accounts. For anyone who has ever had to execute a will, not knowing where to locate money or who to contact is a huge problem. Complete this now, store it away safely, then have anyone who you might be in charge of executing their will (such as a parent) do the same.
*Special thanks to the Reddit Personal Finance community for putting together many of these money management worksheets.