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How to create a personal budget in WPS Office Excel?

January 27, 2022

Welcome to WPS Official Academy! After reading this free tutorial, you will master how to create a personal budget in WPS Office Excel.

lPreparations for a personal budget

In this case, we need to create a personal budget. First of all, we must identify the financial goal, that is to fund retirement, which determines we must save some money for deposit. Then, determine the period that the personal budget is going to cover, for example, a monthly budget here. Next, we can start to create the budget in WPS Spreadsheet.

lSteps to create a personal budget in WPS Spreadsheet

Option 1 Customize a personal budget in WPS Office

o Set up the income table.

1. Open a new worksheet in WPS Spreadsheet, and enter the expected income. Here we can create two columns, one for planned expenses, which you can input at the beginning of the month, and another for actual expenses, which are updated at the end of month.

2. Input the formula Difference=Actual-Expected in the cell E3, and drag the fill handle (+) to run the auto fill function.

3. Then, enter the SUM function to calculate the totals.

o Create the expenditure table.

Follow the operations in step 1, expect that the formula entered in cell E9 shall be =Expected-Actual, so that the extra expenses will be marked in red.

o Calculate the balance.

1. To calculate the expected and actual balance, apply the formula = Income-Expenditure-Deposit. Enter the formula =C6-C16-B19 in cell B22, and drag fill handle to apply the same formula in cell C22.

2. Then, calculate the difference with the formula =Actual-Expected.

o Insert pivot tables and charts

First of all, we need to create a pivot table for the income tab, so that we can filter the data we want to analyze separately.

1. Go to the Insert tab and click the PivotTable button. In the pop-up dialog, select the range B2:E5 to create the pivot table for the income table, and place it in a new sheet.

2. Drag Source to the ROWS area, Expected and Actual to VALUES area.

3. Select the entire pivot table, head back to the Insert tab, and click the Chart button. In the pop-up dialog, select an appropriate chart style, for instance, a bar chart here.

4. Click the Source drop-down button, and you can filter the data as needed by clicking Select this item.

Now let's go back to sheet 1, and create a pivot table for the expenditure table.

1. In the Insert tab, click PivotTable and enter B8:D15 in the dialog.

2. Drag Category to the ROWS area, Expected and Actual to VALUES area.

3. Select the whole pivot table and insert a radar chart following the above steps.

Next, we need to create a chart to show the share of monthly expenses, deposit and cash balance respectively.

1. Select G4:G6, press the Crtl key, and select I4:I6. Go to the Insert tab, and click Chart to insert a 3-D pie chart.

o Assemble the charts

Copy all charts from different sheets and paste them in Sheet 1.

Well done! Let's preview the results.

Option 2 Choose an appropriate template in WPS Template Library

Alternatively, WPS provides the users with abundant budget templates in the template library.

Open WPS Spreadsheet, and enter budget in the search box. There are multiple templates for you to choose from!

lWhat is WPS Spreadsheet?

WPS Spreadsheet is one module of the comprehensive WPS Office suite, which is compatible with Microsoft Office. As the best alternative of Microsoft Excel, WPS Spreadsheet provides more than 100 built-in functions and charts, assisting the users in data input, analysis, etc. WPS office suite is your best helper for excellent creation and collaboration, and your no. 1 choice for education and busienss business.

lMore operations about pivot tables

To learn more about how to insert and edit pivot tables to make your data more visualized, please visit WPS Academy for more free tutorials.

Learn pivot table from the beginning | WPS Academy Free Office Courses

How to set the calculated field of the pivot table | WPS Academy Free Office Courses

WPS Office Spreadsheet is helpful for various fields of studies: mathematics, statistics, data science, engineering, finance, and such. Rich functions paired with teaching procedures, WPS Office Spreadsheet definitely is a professional and reliable toolkit.

15 years of office industry experience, tech lover and copywriter. Follow me for product reviews, comparisons, and recommendations for new apps and software.