FY22 Finance Tracker
As we are heading towards end of the fiscal year in India, I hope you have completed all your investment proof submissions and tax adjustments. Now is the time you plan for upcoming year i.e. April 2021 to March 2022.
Attached is the template which would help you to plan and track your upcoming year's expenses, investments and hence taxes at a glance.
FY22 Finance Tracker
This template will help you to note down your projected income vs your planned expenses and accordingly you can plan your investments and tax saving strategies.
Below are some notes which will help you to use this template:
1. Starting with Cell B3: Here insert your expected salary for the month. (I've put Rs 100 for example)
2. Next step is to plan that where your money will go. [Refer row no. 18] Suppose you plan that only 10% of the salary will go in 'Timely expenses' such as Grocery - then edit cell no 'L18' and write your planned amount in it.
3. Each row represents that particular month's expenses. Say for Apr-21, You can input your planned investments [PF, MF, stocks, etc.] & your projected expenses [grocery bills, EMIs, etc.] These cells are smart, they will get highlighted in red if your value exceeds your 'Planned amount'. In that case you may write the justification in it's corresponding cell. It will help you to identify the expenses/habits which impact your financial discipline.
e.g. For April I planned Rs. 10 [Cell L18] but I end up paying 11 Rs. [Cell L3] So it turned to red. So I mentioned the reason in cell K3 that I did some extra shopping this month which pushed my budget a little.
Same way you can track your entire year's expenses.
4. Keep entering real values throughout the year and you'll see amazing results in terms of personal budgeting, tax planning and overall financial habits.
