What is 60/20/15/5 Budget Spreadsheet Template?
A simple and efficient budgeting plan with 60% for needs, 20% for savings, 15% for wants, and 5% for debt repayment. This template helps you focus on essentials while maintaining financial growth and managing debt. Available for Excel & Google Sheets.
Problem
The current situation for users involves managing their finances without a structured plan, leading to potential inefficiency and financial mismanagement.
Keeping track of spending and allocating appropriate budgets for needs, savings, wants, and debt repayment are significant drawbacks of the old situation.
Solution
A budgeting template available for Excel and Google Sheets
This template allows users to categorize their expenses and income into predefined sections, such as needs, savings, wants, and debt repayment, following a 60/20/15/5 rule.
Helps individuals plan their finances efficiently by ensuring essential expenses are covered, savings goals are met, and debt is managed. Examples include precise allocation of income into categories and tracking monthly spending patterns.
Customers
Individuals who seek to improve their financial management, including college graduates, working professionals, and middle-aged individuals
Users who prefer simple and effective digital tools for financial planning could also include young adults starting their financial journey or individuals aiming to gain more control over their spending.
Unique Features
The template is based on a simple yet robust 60/20/15/5 budgeting rule, which focuses equally on lifestyle needs and financial goals.
It offers compatibility with Excel and Google Sheets, providing ease of access and usability for most users familiar with these platforms.
User Comments
Users appreciate the simplicity and ease of use of the template.
It is praised for effectively helping users to manage and track budgets.
Some users express satisfaction over the alignment with personal financial goals.
The accessibility via popular spreadsheet tools is a major plus.
Criticism is minimal, with some suggesting potential customization additions.
Traction
Currently, there is no specific data on user count or revenue publicly available.
However, traction can be inferred from its presence on ProductHunt and the positive feedback received from early users.
Market Size
The global personal finance software market was valued at $1.1 billion in 2020, with expectations to reach $1.57 billion by 2030, growing at a CAGR of 5.7% during the forecast period.
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