How to Create a Budget for College Students in Excel – 8 Steps

Step 1 – Create an Outline

• Create a sample template to enter data.
• Include Fixed Earnings and Variable Earnings.

• Enter Variable fields and Fixed fields.

Step 2 – Enter the Fixed Earnings

• Enter fixed earnings:

• Include: Internships, allowances, loans (here 12 months), scholarships and savings.

Step 3 – List Variable Earnings

• Include part-time jobs (consider different monthly income).
• Create an Others columns.

Step 4: Calculate the Total Income

• Select K9 and enter the following formula:

This is the output.

• Drag down the Fill Handle to see the result in the rest of the cells.

This is the output.

• Select K21 and enter the following formula:

This is the output.

Step 5: Enter Fixed Expenses

• Include Tuition Fees, Rent Utility, Internet Bill, Health Insurance, Car Insurance, and Others in D26:J37.

Step 6 – List Variable Expenses

• Include Books, Food, Entertainment and transportation (these expenses need to be updated every month).

Step 7 – Calculate the Total Expenses

• Select O26 and enter the following formula:

This is the output.

• Drag down the Fill Handle to see the result in the rest of the cells.

This is the output.

• Select O38 and enter the following formula:

• This is the output.

Step 8 – Calculate the Net Balance

• Selected I4 and enter the following formula:

It Subtracts the Expenses from the Total Earnings.

Step 9 – Generate the Final Budget with Charts

The PIe chart below showcases the income:

• The chart below showcases Expenses:

This is the final output:

Read More:How to Create a Personal Budget in Excel

Download Practice Workbook

Download the practice workbook.

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