how I manage my money 💵 ‏‏‎ ‎income , expenses , budget , etc || personal finance in my 20s

  • 🎬 Video
  • ℹ️ Description

In this video, I show you guys how I keep track of my finances in my 20s , so everything from my income , expenses , budget , net income , and some of the information that I need to do my taxes with when that time comes around ( business expenses , business income ). Honestly, when I was first learning about how to track my money ... I found it to be a little bit overwhelming even though it felt like it should have been really easy . Turns out, once you've set up your system , it can be super straight forward and then it's just a matter of including this into your end of month routine . I kind of wish they taught us a bit more about how to manage finances in school, but hey I guess the internet is a good place to learn. I'm by no means an expert, and this is just what I do , but thought it would still be helpful to some of you or at least give you ideas on how to manage your money! I used microsoft excel for my spreadsheets ... but you can totally use something like Google sheets as well :)

✩ Timestamps ✩
0:00 - Intro
0:40 - What do I use? + important info about my file
1:49 - Personal Finances Sheet : Income
2:20 - Nordgreen
5:40 - Personal Finances Sheet: Income
6:25 - Personal Finances Sheet: Expenses
9:26 - Personal Finances Sheet: Budget
10:05 - Personal Finances Sheet: Net Income
10:39 - Personal Finances Sheet: Bank Accounts
11:27 - Personal Finances Sheet: Credit Cards
11:58 - Business Finances Sheet: Business Income
14:00 - Business Finances Sheet: Business Expenses
15:25 - Outro

✩ GOOGLE SHEETS / EXCEL TEMPLATE ✩

All you have to do is hit "File -- Make a Copy" and you'll have your own copy to edit. I left it the same as it is in the video, so obviously rename things according to your own financial needs (change streams of income, some expenses might not apply to you, different bank accounts, etc.).
If you want it as an Excel File on your computer instead of Google Sheets, just hit "File - Download - Microsoft Excel". I hope that's somewhat helpful to those of you requesting it - might help speed things up! I do recommend you still follow along with the video to understand some of it :)

✩ EXPENSES CATEGORIES LIST SHOWN IN VIDEO ✩

✩ Social Media ✩
Twitter and Pinterest- @linalecompte

✩ Cameras ✩
Canon 80D w/18-55mm lens
Canon G7X Mark II

✩ Editing Software ✩
Adobe Premiere Pro

✩ Music ✩
Epidemic Sound

✩ Social Media Bars ✩
Brogan Algar - her channel:

Keywords: how to track money , how to manage your money , how to keep track of your money , how to track your expenses , how to track your income , how to track your money in excel , personal finance for beginners , personal finance 101 , personal finance for students , personal finances in your 20s , budget with me , money tips , tracking your money , managing your money , money management

💬 Comments on the video
Author

UPDATE: Since some of you requested it, I have now added a template of the sheet I used in the video in the description of this video. You can make your own copy and rename things according to your own finances. A bit more info in the description box. Hope it helps! Please let me know if for some reason it doesn't work, and I'll try to fix it ASAP.

Author — Lina Lecompte

Author

Starting to get my life together and working on savings and budgeting Is my first steps! Love the video!!

Author — Morgan Fields

Author

I've been tracking my finances via Excel for a few years and it's so rewarding! I update my spreadsheet weekly because I like the regular check ins, especially for categories like food and entertainment. Some areas I struggled with were budgeting for the expenses that went on my credit card but then not having a schedule for when I transferred money to pay it off. Now I check my cc every 2-3 days and transfer the balance in full (versus monthly). I also have a section for my investments because I love entering the numbers and seeing it grow. I'm also in Canada!

Author — Rosalynn

Author

I love this spreadsheet! Thank you!  
1. You can set conditional formatting on the monthly expenditure cells to, for example, turn red if the amount goes over the budget.
2. You can add a column after the Budget column (make a new Column "C") to show if you are within budget for the year. For each row, enter a formula that sums the values of cells for that row (Jan to Dec) and divides by the number of cells with data (COUNTIF(B12:N12, <>NULL) to show how much you are over or under so far for the year. Note: It's been a few years since I used Excel so I probably don't have the best syntax but you get the idea.)

Author — Padwan Mogme

Author

Thank you so much for sharing this. I am also a freelance actor/director in my 20s and one of the steps I’m trying to take to get my life together is to manage my personal expenses, but all systems assume a fixed income set up, which aren’t friendly for creative freelance lifestyles. This finally gave me some direction of how I can go about my own budgeting and finance tracking. Cheers and break a leg in all your acting related endeavors. 🎬

Author — Tara Jamora Oppen

Author

This is literally my cure for depression. Thank you so much Lina! <3

Author — 123Iamawesome321

Author

Awesome video! Thank you for sharing the xls file! I just wanted to say it's good to contribute to your rrsp. It helps "lower" your gross income so you get a tax break, and you get to collect up to 25k tax free when you buy your first home (in Canada) which you either put back into your rrsp over the span of the next five years (I think it's 5 but I could be wrong) or the money becomes "income" and you just pay taxes on it split across the years. Hope that makes sense and helps a little :)

Author — Asma K

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Hi Lina! Thank you for sharing your insights! It was nice watching a system based on a creative career (: Wish you all the best!

Author — rotblush

Author

Awesome video and looks like a great way to stay organized/track everything financially. Will be giving this a try, thank you!

Author — Dominic Razzano

Author

This is the only video I found that fit me PERFECTLY. I've downloaded the sheet and am using it. It's exactly what I needed to track my personal finances and my art business

Author — Haven Ms

Author

Thanks for the tips! Just a suggestion that will make things easier for your subscribers: Sharing the template of the sheet you used in a video will be very helpful to people who enjoyed your model and want to start using your template, so they don't need to spend time going through the video to make a similar template, instead they can just download it.

Author — Igor Schimidt

Author

Thank you so much for the spreadsheet, you're the only one who linked it for free and i appreiciate it so much as a fresh graduate student who's struggling living alone. Also thanks for the financial information :)

Author — Hishiko

Author

Thank you so much for sharing! This is probably the most useful video on personal finance management that I have found. You even showed how to do the sum function on excel! LEGEND! 🙌🏼❤️

Author — Chloe McLuhan

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Thank you for posting this video. I have started to keep a spreadsheet and as I pay off debt and created a budget it really showed where I was spending my money.

Author — Stacey Leeper

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thank you for this!! I just graduated college and am trying to get my life together! Your spreadsheet helps a lot!

Author — Phillip Jordan

Author

Great suggestions. How do you handle future scenarios and cash flow projections? We've built a visual, connect-the-dots style UI that functions like Excel but can be used for creating what-if scenarios.

Author — whatifi

Author

Very very useful! I loved your video and how you thoroughly explained the business and personal parts. Thanks also for the template!

Author — TanyaticASMR

Author

This helped me so much, you explained very well thank uu ♥

Author — Lia U

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i was looking for an excel template to start budgeting on excel and have found yours to be a perfect fit since its simple and easy to follow thanks for the video

Author — Giraldeau Fagaerone

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love how this video was organized! so helpful! thank u(:

Author — karah