To get the Epic Saving Spreadsheet, sign up for The Epic Times!
The Epic Saving Spreadsheet
In a previous post we have talked about how to save money via automation. Now that this is understood, we could move on and do everything by hand. But staying true to our Automation and “Get yourself out of the loop” philosophy, I’d like to introduce you to the Epic Saving Spreadsheet (which you can get easily by signing up for The Epic Times…don’t worry, it is a 100% free 😉 ).
The Epic Saving Spreadsheet is a nice little goody that helps you calculate how much you can actually save, how much you need to save and how much “unattended” money you’ll have left after saving.
Wanna know how it works? Keep on reading!
We have 3 categories of expenses: daily, monthly and yearly expenses. Just plug in the numbers in your favorite currency, no currency sign needed. For daily expenses I assumed a 30 days month, so the calculations might be a little off, but the error should average out to zero.
Down below, right under the daily expenses column, is a field for the monthly income. Go ahead and write your monthly income into the field (c28 to be exact).
What do you want to save for? How much does it cost? How much do you need to save each month? That’s what the savings column is for. Go ahead and write down the total price of each item under amount. Then move over to timeframe and write down in how many months from now you want to have that money saved up. The spreadsheet will calculate how much you need to save each month and write it down under monthly saving.
Don’t forget to fill out the description field for each entry, so you will still now what is what.
After filling out those fields, the spreadsheet will make some calculations (don’t worry, you don’t need to fill out all the cells…c’mon nobody wants you to to make up expenses or savings man).
Under “Saving Potential” you will see how much money you have that is unused each month. Under “Total to Save” you can see how much you have to save each month. “After Saving” shows you how much (unused) money is left after you have already saved, each month.
How this can help you
“Alright Ilhan bro, but how is this stuff gonna help me, man?” you might think to yourself. Afterall, it seems like a fancy toy.
Lo and behold, it is not! Remember, in order to do some effective money saving you need to have a gameplan! This little spreadsheet is an important aspect of your gameplan. It shows you how much exactly you need to save, and if you are on track or not.
By filling out the expenses part you are also forced to think hard about what you spend your money for and it gives you a simple, clear overview of where your money goes. That way you can also go ahead and start optimizing your finances step by step.
Leave a comment on how you like the spreadsheet and what you like to see improved!
To get the Epic Saving Spreadsheet and more cool stuff sign up for The Epic Times!