In this short post, we will have a look at SEMProfi’s Personal Finance Tracker and its features. You will find out what is it, how it works, and why it may be worth it for you or your business.
Stay with me till the end of this blog post and I will share with you how you can get this tracker for FREE.
What Is The Personal Finance Tracker
The Personal Finance Tracker is a spreadsheet template that helps you manage and track financial information such as Income, Expenses, Debt, Bills, Savings, and Investments.
This versatile tracker allows you to easily monitor and manage your personal or business finances. With simple editing capabilities, it can be tailored to fit a range of financial objectives.
The good part is that, in comparison to other templates, you can track an unlimited amount of years or months within the same template without doing any other copies.
More, as most people get frustrated while working with templates that include lots of tabs, this template includes only four tabs. Keeping it simple, makes your life easier.
Why Use A Personal Finance Tracker
There may be numerous reasons to utilize a personal finance template, however, here are my primary reasons for doing so.
To keep track of income and expenses – A personal finance tracker template allows you to easily input and categorize your financial transactions, providing a clear overview of your income and expenses.
Accessible from anywhere – As a Google Sheets template, it can be accessed from any device with an internet connection, so you can easily update and review your finances from anywhere.
Identifying areas for savings – By analyzing your spending patterns, a personal finance tracker template in Google Sheets can help you identify areas where you may be able to cut back and save money.
Goal-setting – A personal finance tracker template in Google Sheets can help you set and track financial goals, such as saving for a down payment on a house or paying off debt.
Budgeting – By tracking your income and expenses, a personal finance tracker template in Google Sheets can help you create and stick to a budget.
How It Works
The template includes a comprehensive “Start Here” guide that provides all the necessary information for effectively utilizing this tracker.
Transactions Tab Explained
Now, the only tab you have to fill with your data is the “Transactions” tab (green marked).
To explain this at my best I created also the video below for you.
You can add extra categories and also change your column names, in case you need the template for a different purpose (like business finances). It is pretty simple.
The only thing to keep in mind is that you have to always fill both “Actual” and “Projected” budget tables. If you do not really have a projected budget, try using some standard entries and duplicate them for each month.
Monthly Budget Tab Explained
The “Monthly Budget” tab includes on the top a drop-down menu to choose the year and month you want to view.
In the income table, you can visualize all types of projected and actual income, that you have inserted in the transactions table (e.g. Salaries, side hustle income, etc..). The data is filled in automatically, so you do not have to edit this table.
Same as for the income table you can visualize your actual and projected Expenses, Debt, Bills, and Savings in the tables below.
The “Amount Left” (calculated as projected – actual total amount) is retrieved automatically and using conditional formatting you will get a red cell for negative values, light red for zero, and green for positive values.
In the middle, you can visualize your total projected budget (sum of all projected incomes), your actual budget (sum of all actual incomes), and the remaining budget (Actual budget – the sum of all expenses, bills, debt, and savings). The progress bar shows how much money you have left in the selected month from the actual budget.
The Spending Overview (donut chart) shows the percentage each main category (Expenses, Bills, Debt, Savings) represents from your actual budget.
Annual Overview Tab Explained
Same as for the Monthly Budget, first you choose from the top drop-down menu the year you want to visualize.
On the below charts, you can visualize your monthly income evolution, monthly expenses, and a total spending overview percentage of each category similar to the one in the ‘monthly budget’ section.
The Planned vs Actual Budget displays the evolution of your monthly “actual” vs “projected” income during the year.
The Monthly Savings vs Debt Payoff chart compares your debt and savings allocation during the selected year.
The Annual Review Tab contains a table for each of the 4 main categories (Expenses, Savings, etc..) where you can visualize the monthly and total expenses for the selected year.
At the bottom of the page, you can find the totals (expenses+debt+savings+bills) for each month and visualize if you are ‘within budget‘ or ‘overspending‘. Please remember again all the calculations are done automatically, do not change anything in the ‘Annual Review’ Tab.
Is This Template Worth It?
Our Google Sheets finance template is a great tool for anyone who wants to take control of their finances. It’s perfect for individuals, families, small business owners, entrepreneurs, students, and recent graduates. It’s easy to use with four tabs that help you keep track of your income and expenses, create a budget, find ways to save money, and set financial goals. It’s also very flexible and can be used for personal or business finances. With this template, you’ll be able to easily manage your money, no matter your financial situation.
Where Can I Get It?
There are two ways to get this template.
The first option is to purchase it from our brand-new Etsy shop here.
The second option, is the FREE option, by following the below steps.
Write us an Email at “support@semprofi.com” or comment to this blog post.
You will receive simple, easy-to-follow instructions on how to access and use the template.
Additionally, please subscribe to our Youtube channel.
Final Words
To summarize, this template may be a great tool to overview your finances from anywhere around the world. I really hope it will help you achieve your financial goals. If you have any questions do not hesitate to write me an E-mail. Cheers!