Open Excel and create a new blank workbook
Enter your income sources in one column
Enter your expense categories in another column
Add columns for planned amount, actual amount, and difference
List fixed expenses such as rent, utilities, and loan payments
List variable expenses such as groceries, transport, and entertainment
Use formulas to total income and total expenses
Subtract total expenses from total income to calculate savings or deficit
Format currency cells for easy reading
Highlight overspending with conditional formatting
Create charts to visualize spending by category
Save the workbook and update it regularly