This Simple Spreadsheet Could Change Your Financial Life

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This Simple Spreadsheet Could Change Your Financial Life By: Marc Guberti Marc Guberti Marc Guberti is a personal finance writer who hosts Breakthrough Success, a podcast where he teaches listeners how to grow their businesses and achieve personal transformations. Has also written: What Everyone in Their 60s Should Do Right Now to Protect Social Security Income Warren Buffett’s Biggest Warning for Anyone Nearing Retirement Retirement Hobbies That Can Actually Make You Money 7 Easy Ways Retirees Can Get Close to a $100-a-Week Budget The 401(k) Mistake That Could Cost You Thousands in Free Money See full bio Published: Feb 13, 2026 4 min read Getty Images Understanding exactly how much money is flowing in and out of your bank accounts each month can make it easier to trim expenses, know if you have enough money to make certain purchases and feel financially secure in retirement. While speaking with a financial advisor can be the best move when mapping out a financial plan, a simple spreadsheet may be a good starting point. The specific, simple spreadsheet we’re recommending only has three columns (but keep in mind that you can and should adjust your tracking based on what will be most helpful for you). Must ReadExperts are Bullish on Gold — Here's How to Get InRetirees: How a Small Gold Allocation Can Soften Losses When the Stock Market WobblesWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage Why create a financial spreadsheet in retirement? This financial spreadsheet makes it easier to monitor your finances, assess where you are financially right now and determine how much money you have or need for your future. This spreadsheet’s greatest strength is that it provides visual clarity on your finances. You’ll know how much you are earning and how much you can spend after covering your basic needs, like gas and groceries. Listing all of your costs can also help you see purchases you can potentially trim, like an expensive gym membership or unused streaming subscriptions. Making one of these spreadsheets is fairly simple, and you can do so via Google Sheets, Microsoft Excel or a similar program. This way you can automatically add up the income and expenses to determine your total figures.

Gold Investor Kit Offer: Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases How to make a financial spreadsheet Your spreadsheet should be adjusted for your specific needs. But here are three columns you’ll want to include as you get started. Pet Protection: See How Spot Pet Insurance Can Help Your Dog or Cat Column one: Fixed income The first step is to create a column that includes fixed income sources that you receive in retirement like Social Security, pensions and annuities. This column shows your financial floor. You’ll get an idea of how much you have to spend each month before you have to withdraw funds from your nest egg. Understanding how much you receive from your fixed income can help you not overspend. Column two: Fixed expenses The second column contains the fixed expenses that you have to pay each month. These can include essentials like your mortgage, insurance and groceries. This column allows you to easily compare your fixed expenses to your fixed income to understand if you need any additional funds each month or you have extra money to save. Ideally, your fixed expenses should be lower than your fixed income, and a wider margin frees up more money for the third column. Extra Money: Get up to $1,000 in stock when you fund a new active SoFi invest account Column three: Discretionary spending This column lists expenses for things you want but don’t necessarily need, such as vacations, hobbies and dining out. These expenses may require withdrawing from your retirement savings if your fixed income isn’t enough to cover your fixed expenses and discretionary spending. Retirees can cut back on discretionary spending during economic downturns to preserve their nest egg. But you also want to enjoy your retirement. This column can help you understand how much wiggle room you have in your budget to do so. Must ReadExperts are Bullish on Gold — Here's How to Get InRetirees: How a Small Gold Allocation Can Soften Losses When the Stock Market WobblesWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage