Let’s be honest, budgeting can feel like the financial equivalent of eating your vegetables – necessary. However, it is not always thrilling. But what if I told you there’s a way to make budgeting not just manageable, but dare I say, even fun? I wanted a tracker that I could personalize and where I could keep all my finances in one place so I decided to create my own. Then my first thought was to share this system with you! You can now download this Airtable Budget Tracker for FREE and I will go through practical ways to use it to manage your household budget.
Think of Airtable as a supercharged spreadsheet, but way more user-friendly and visually appealing. In this tutorial, I’ll walk you through tracking your monthly budget in the base. This tracker will help you understand where your money is going, identify areas where you can save, and ultimately, achieve your financial goals. Let’s get started!
What Is Airtable
Airtable is a free (with paid plans for added features) project management tool that’s like a spreadsheet on steroids. It’s incredibly versatile and can be used for everything from managing projects to tracking inventory. Additionally, it is an amazing tool for personal finance as really anyone can use it. Don’t worry about creating your base because everything is ready for you to plug and play.
I can assure you I am not sponsored by Airtable. I love their product so much because it is so customizable. Although I created the template for you, you can easily adjust categories and information to suit your needs. Plus who doesn’t love a little extra color to make it fun?
Why Track Your Budget? (Because Adulting is Hard)
Before we dive into the how-to, let’s talk about the why. Tracking your budget is essential for gaining control of your finances. It doesn’t matter if your an individual or a family of 5. It’s like having a financial GPS, showing you where you’re going and how to get there. Without a clear understanding of where your money is going, it’s easy to overspend and fall short of your financial goals. Tracking your budget empowers you to take charge. Also, it’s a great way to build a brighter financial future, allowing you to save for that dream house, plan for retirement, or simply manage day-to-day expenses with confidence. Plus, knowing where your money is going can be surprisingly satisfying!
before Setting Up Your Budget…
Once you download the base, please ensure to follow these steps to get the most out of it.
- You will see a public view of the base once you click on the download link. You must click on “Copy Base” to create your own base.
- Then, you will be prompted to sign up for Airtable to create a new account if you don’t have one already. Airtable is free!
- Once you have access to the base, there is some information on there just as a reference, feel free to delete it and enter your own.
- Remember to personalize it! You can edit the template as you see fit to match your budget goals. Just remember to not change the formulas as you may alter the results of the base.
Additionally you can download the app on your phone or tablet or simply use the site on your laptop or desktop.
Grab Your Monthly Budget Tracker Template
Truly, this is your new financial BFF. My Airtable Monthly Budget Tracker is designed to be comprehensive yet easy to use, catering to both individual and family needs. It’s organized into several key tabs, each serving a specific purpose:
1. Accounts
First, we have the “Accounts” Tab. This tab is your financial command center. List all your accounts here, including checking, savings, credit cards, loans. Your loans may also include auto, mortgage, personal, student, etc.). Also list your assets, and even retirement accounts. For families, this might include accounts for each member, allowing for a clear overview of everyone’s finances. Having everything in one place gives you a snapshot of your overall financial position.
2. Budget Overview
This is where the magic happens! Create your monthly budget by categorizing your spending (e.g., housing, food, transportation, entertainment, childcare, school expenses). Enter your budgeted amounts for each category. As you input transactions in a separate tab, this tab will show you the actual amounts spent, allowing you to compare budgeted vs. actual spending. This tab also allows you to track your bills and their due dates on a convenient monthly view, ensuring you never miss a payment.
3. Transactions
This is the heart of your tracker. Here, you’ll meticulously record every transaction, categorizing it according to the categories you set up in the Budget Overview tab. Take a look at your bank statement and enter each transaction individually or add up amounts. It may seem like a lot of work but it is a great way to have control. Then you select the month, choose the appropriate category, enter the amount, and voila! The tracker automatically updates your Budget Overview.
Personally, I enter my transactions once a week or a week and a half and it doesn’t take me more than 20 minutes to go through all of my accounts. It is a great exercise for you to remember to check your bank apps and statements!
4. Sinking Funds
What are sinking funds? They’re your secret weapon for planned expenses! Think of them as mini-savings accounts. You can set specific goals for each, such as holiday gifts, a new appliance, a family vacation, or even a down payment on a house. This tab helps you track how much you’re saving for each sinking fund and how close you are to reaching your goal. You can choose to have separate accounts to organize your sinking funds or you may just keep track of separate funds within the same account.
My tracker ensures that you check your sinking funds closely. It is effective even if you keep different funds in one bank account. For example, my Savings account holds my emergency fund as well as my fund for a trip I will take in one year. By keeping a record of how much I am saving for each, it gives me an overview of what I am trying to save for.
5. Subscriptions
Keep track of all your subscriptions here, from streaming services to gym memberships. Make it a best practice to log your subscription as soon as you sign up. Then enter the renewal date, and you can keep track when it’s time to decide whether to renew or cancel. No more surprise charges for subscriptions you’ve forgotten about!
6. Card Benefits
Maximize your credit card rewards! This tab helps you remember the cashback percentages, promotional APR offers, and other perks linked to each of your credit cards. This way you have all of that information in one place for easy reference. It’s easy to forget those promotional balances when you have several cards.
7. Net Worth Estimator
Want to know your net worth? This tab pulls data from your Accounts tab and calculates your net worth in a simple and straightforward way. It’s a great way to monitor your financial progress over time. All you need to do is pipe all of your accounts from the Accounts tab and it will automatically calculate it for you. It is very important for you to know your net worth when you are embarking on your budget journey. It helps you understand what to work towards.
Step-by-Step Tutorial On YouTube
For a complete, step-by-step tutorial on setting up and using this Airtable Monthly Budget Tracker, be sure to check out my YouTube video:
Facing Your Finances: A Game Changer (Seriously!)
Beyond the practical aspects of tracking expenses and managing budgets, there’s a deeper benefit to facing your finances head-on. It can be daunting at first, but taking control of your money can be incredibly empowering. Firstly, it reduces stress as you are seeing the full financial snapshot. Additionally, it fosters financial confidence, and allows you to make conscious choices about your spending. Truly, this Airtable budget tracker is more than just a tool; it’s a pathway to financial well-being for individuals and families alike.
Final Thoughts
So, there you have it! A free, powerful, and easy-to-use monthly budget tracker, all thanks to the magic of Airtable. Remember, budgeting isn’t about restriction; it’s about empowerment. By understanding where your money is going, you can make informed decisions, achieve your financial goals, and build a brighter future. Now, go forth and conquer your finances (and have some fun along the way)!
let Me Know How You Are Doing With Your Budget Tracking!
Let’s connect! Additionally, if you have any questions about using the tracker or have any trouble, don’t hesitate to reach out!
