10 Useful Finance Excel Project Ideas (Tracking Your Money)
If you want to get a better handle on your finances, Excel can be a powerful tool. In this article, we’ll explore 10 useful finance Excel projects that will help you take control of your money and make more informed decisions about your spending, saving, and investing.
From creating a budget plan to tracking your investments, these projects will provide you with valuable insights and skills to help you manage your money more effectively.
Whether you’re just starting out or you’re a finance pro, these Excel projects are sure to help you improve your financial situation and achieve your goals. So let’s get started!
Read our other article to get an entire list of excel projects: 31+ Fun Excel Project Ideas (From Beginner To Advanced)
10 Finance Excel Projects
1. Budget Tracker
A personal budget is a financial plan that helps you track your income and expenses and make sure that you are spending within your means. Creating a personal budget can be a valuable exercise for anyone who wants to get a better handle on their finances and make more informed decisions about their spending and savings.
To create a personal budget in Excel, you will need to start by setting up a spreadsheet with two main sections: one for income and one for expenses. In the income section, you will need to list all of the sources of income that you have, such as your salary, any investment income, or any other sources of income that you may have. In the expenses section, you will need to list all of your fixed expenses, such as your rent or mortgage payment, car payment, and insurance premiums, as well as your variable expenses, such as groceries, entertainment, and clothing.
Once you have entered all of your income and expenses into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate your total income and expenses, and then subtract your expenses from your income to determine your net income (or net loss) for the period. You can also use Excel to create a budget plan for the coming months, by estimating your income and expenses and then comparing them to your actual income and expenses to see how well you are sticking to your plan.
We teach you how to make your own budget spreadsheet in our other article “How To Create A Monthly Budget Spreadsheet In Excel“.
2. Financial Plan Tracker For Big Purchases
A financial plan is a document that outlines your current financial situation, your financial goals, and the strategies and actions you will take to achieve those goals. Creating a financial plan can be a valuable exercise for anyone who wants to take control of their finances and make more informed decisions about their spending, saving, and investing.
To create a financial plan in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should provide an overview of your current financial situation, including your income, expenses, savings, debts, and assets. The next worksheet should outline your financial goals, such as saving for a down payment on a house, paying off your credit card debt, or retiring early. The remaining worksheets should detail the specific strategies and actions you will take to achieve your goals, such as increasing your income, reducing your expenses, or investing in the stock market.
Once you have entered your financial information and goals into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your net worth, savings rate, and investment returns. You can also use Excel to create a financial projection, which shows how your financial situation is likely to evolve over time based on your current income, expenses, and savings. This can help you see whether you are on track to achieve your goals, and if not, what you need to do to get back on track.
3. Retirement savings plan
A retirement savings plan is a financial plan that helps you save and invest for your retirement years. Creating a retirement savings plan can be a valuable exercise for anyone who wants to ensure that they have enough money to live on in retirement, and that their savings will last as long as they need them to.
To create a retirement savings plan in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should provide an overview of your current financial situation, including your income, expenses, savings, debts, and assets. The next worksheet should outline your retirement goals, such as the age at which you want to retire, the amount of money you will need in retirement, and the types of expenses you expect to have in retirement. The remaining worksheets should detail the specific strategies and actions you will take to achieve your goals, such as saving a certain amount of money each month, investing in a diversified portfolio of stocks, bonds, and other assets, and maximizing your employer’s retirement plan contributions.
Once you have entered your financial information and goals into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your projected retirement income, expenses, and savings. You can also use Excel to create a retirement projection, which shows how your financial situation is likely to evolve over time based on your current income, expenses, savings, and investments. This can help you see whether you are on track to achieve your retirement goals, and if not, what you need to do to get back on track.
4. Portfolio of your investments
A portfolio is a collection of investments, such as stocks, bonds, and mutual funds, that an individual or organization holds. Creating a portfolio in Excel can be a valuable exercise for anyone who wants to track their investments and monitor their performance over time.
To create a portfolio in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should provide an overview of your portfolio, including the names and ticker symbols of the individual investments you hold, the number of shares or units you own, and the purchase price of each investment. The next worksheet should contain data on the performance of your investments, such as their current price, price change, and return on investment. The remaining worksheets should contain any additional information or analysis that you want to include, such as news articles or analyst reports on your investments, or your own notes and observations.
Once you have entered your portfolio information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your portfolio’s total value, return on investment, and risk profile. You can also use Excel to create a variety of charts and graphs that help you visualize the performance of your portfolio over time, and compare it to market benchmarks or other portfolios.
5. Mortgage calculator
A mortgage calculator is a tool that helps you compare different mortgage loan options and determine the best one for your needs. Creating a mortgage calculator in Excel can be a valuable exercise for anyone who is considering buying a house and wants to explore their financing options.
To create a mortgage calculator in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain inputs for the various parameters of the loan, such as the loan amount, interest rate, and term. The next worksheet should contain formulas and functions that use these inputs to calculate the monthly payment, total interest, and total cost of the loan. The remaining worksheets should contain any additional information or analysis that you want to include, such as comparisons of different loan options or scenarios, or your own notes and observations.
Once you have entered your mortgage information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your monthly payment, total interest, and total cost of the loan. You can also use Excel to create a variety of charts and graphs that help you visualize the performance of your mortgage over time, and compare it to other loan options.
6. Debt repayment plan
A debt repayment plan is a financial plan that helps you pay off your loans and credit cards more quickly and efficiently. Creating a debt repayment plan can be a valuable exercise for anyone who has a lot of debt and wants to get out of it as soon as possible.
To create a debt repayment plan in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain a list of your debts, including the creditor, balance, interest rate, and minimum payment for each debt. The next worksheet should contain formulas and functions that use this information to calculate your total debt, total interest, and total minimum payment. The remaining worksheets should contain any additional information or analysis that you want to include, such as comparisons of different repayment options or scenarios, or your own notes and observations.
Once you have entered your debt information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your total debt, total interest, and total minimum payment. You can also use Excel to create a variety of charts and graphs that help you visualize the progress of your debt repayment over time, and compare it to other repayment options.
7. Financial dashboard
A financial dashboard is a tool that helps you track key metrics and indicators, such as your net worth, savings rate, and investment returns. Creating a financial dashboard in Excel can be a valuable exercise for anyone who wants to get a quick and easy overview of their financial situation, and make more informed decisions about their spending, saving, and investing.
To create a financial dashboard in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain your financial data, such as your income, expenses, savings, debts, and assets. The next worksheet should contain formulas and functions that use this data to calculate key metrics and indicators, such as your net worth, savings rate, and investment returns. The remaining worksheets should contain any additional information or analysis that you want to include, such as comparisons of your financial situation over time, or your own notes and observations.
Once you have entered your financial information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your net worth, savings rate, and investment returns. You can also use Excel to create a variety of charts and graphs that help you visualize the performance of your financial situation over time, and compare it to other benchmarks or targets.
8. Loan amortization schedule
A loan amortization schedule is a tool that shows how your loan payments will be applied to the principal and interest over the life of the loan. Creating a loan amortization schedule in Excel can be a valuable exercise for anyone who wants to see how their loan payments will be applied and how long it will take to pay off their loan.
To create a loan amortization schedule in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain inputs for the various parameters of the loan, such as the loan amount, interest rate, and term. The next worksheet should contain formulas and functions that use these inputs to calculate the monthly payment, principal, and interest for each period of the loan. The remaining worksheets should contain any additional information or analysis that you want to include, such as comparisons of different loan options or scenarios, or your own notes and observations.
Once you have entered your loan information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your monthly payment, principal, and interest. You can also use Excel to create a variety of charts and graphs that help you visualize the performance of your loan over time, and compare it to other loan options.
9. Stock screener
A stock screener is a tool that helps you identify potential investments based on various criteria, such as price-to-earnings ratio, dividend yield, and market capitalization. Creating a stock screener in Excel can be a valuable exercise for anyone who wants to find investments that meet their specific criteria and goals.
To create a stock screener in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain data on the stocks you want to include in your screener, such as their ticker symbol, price, earnings, dividends, and market capitalization. The next worksheet should contain formulas and functions that use this data to calculate the criteria you want to use to screen your stocks, such as price-to-earnings ratio, dividend yield, and market capitalization. The remaining worksheets should contain any additional information or analysis that you want to include, such as news articles or analyst reports on your stocks, or your own notes and observations.
Once you have entered your stock data into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate the criteria you want to use to screen your stocks. You can also use Excel to create a variety of charts and graphs that help you visualize the performance of your stocks over time, and compare them to other benchmarks or targets.
10. Financial planning model
A savings plan is a financial plan that helps you save for a specific goal, such as a down payment on a house, a car, or a vacation. Creating a savings plan in Excel can be a valuable exercise for anyone who wants to make sure they are saving enough money to achieve their goals and avoid financial setbacks.
To create a savings plan in Excel, you will need to start by setting up a spreadsheet with several different worksheets or tabs. The first worksheet should contain inputs for the various parameters of your savings plan, such as your savings goal, the time frame, and the interest rate you expect to earn on your savings. The next worksheet should contain formulas and functions that use these inputs to calculate how much you need to save each month, and how much you will have saved by the end of the time frame. The remaining worksheets should contain any additional information or analysis that you want to include, such as comparisons of different savings options or scenarios, or your own notes and observations.
Once you have entered your savings plan information into the spreadsheet, you can use Excel’s built-in formulas and functions to calculate key metrics and indicators, such as your savings rate, total savings, and projected balance. You can also use Excel to create a variety of charts and graphs that help you visualize the progress of your savings plan over time, and compare it to other savings options.
Conclusion
In conclusion, Excel can be a valuable tool for managing your finances and making more informed decisions about your money. Whether you want to create a budget plan, track your investments, or plan for retirement, Excel offers a wide range of features and functions that can help you achieve your financial goals. By trying out these 10 finance Excel projects, you will gain valuable insights and skills that will help you take control of your finances and make the most of your money. So why not give them a try and see what Excel can do for you?
