My husband and I try to meet to discuss our finances on a monthly basis. We review our spending, our cash flow and our Family Balance Sheet.
I created our Family Balance Sheet as a way to communicate with my husband the details of our family and business finances. I wanted something on one piece of paper where I could show him our short-term and long-term savings account balances and our debt balances. It is one thing to discuss goals in January, but if we aren’t reminded regularly, we could lose sight of the big picture and what we are working so hard for.
I pair this sheet with a Quicken print-out of our monthly spending by category.
The form is not time-consuming. I simply enter the balances as I get my monthly statements.
Create your own Family Balance Sheet
The Asset portion is column A – D, and the Liabilities portion is E – J.
- Column A = Name of Account
- Column B = Balance
- Column C = Target Balance
- Column D = Difference between the target balance and the actual balance. How much do we need to save to get to our target.
- Column E = Name of Account
- Column F = Monthly debt payment
- Column G = Loan balance
- Column H = final due date of the loan
- Column I – Interest rate or finance charge
- Column J = Statement date
On Line 25, there is a formula to calculate your Net Worth. Assets – Liabilities = New Worth
Christmas & Gift Spending Budget
Included in your excel spreadsheet is a tab for your Christmas & Gift Spending Budget. This is the exact budget that I use to manage our spending for gifts and holidays.
Get your Family Balance Sheet Excel Spreadsheet:
To any interested readers: Download your own Family Balance Sheet excel spreadsheet for FREE. It will be blank, but have the formulas and you will be able to add additional rows if needed. Please read the instructions in the first tab and/or refer back to this post, but if you have any questions, please email me at familybalancesheet @ gmail (dot) com.