123 Finance
Budgeting made simple

Introduction to the Finance Portal

Welcome to the heart of the 123 Finance Management Sheet: the Finance Portal. This section is meticulously designed to be your central hub for all things finance, offering a structured breakdown of your financial year.

Getting Started

The Finance Portal is your Hub for finance Management. Within the Finance Portal is a breakdown of Each Year, with buttons for each Month of each Year. Each button will take you to a page specific to the Month & Year selected. Within this page you can input your income, saving goals & expenses. Select a Month you would like to start on. The layout for these pages is slightly different, but don’t worry, the menu still remains the same. Take a look around the sheet and familiarize yourself. This will be a common sight as you begin to use the 123 Finance Management Sheet on a regular basis as this is the layout for each month.

Navigating the Monthly Sheets

At the top of the Page you can find the Menu. Just below this you will find the Month & Year (JAN-23 / MONTH - YEAR) – With arrows to allow you to go to the next or previous month. Next to This you can also find Recommended Guides with helpful guides and articles related to the 123 Finance Management Sheet. Below this, it is split into 2 sections: User Input & Output. First Lets take a look at User Input:

User Input

User Input means everything within that section is something you as the user, will change. Within User Input are the following:

  • Income
  • Saving Management
  • Expenses
  • Expendable

Income

Income refers to what you have earned within this month. Split into 2 Sections:

  • Income Type
  • Amount

Income Type refers to where the income has come from. This is useful especially for those with multiple income sources. For example: Delivery Driving Job, Supermarket Job etc. This section can also be used for one off income. For example, maybe this month was your birthday & you’ve received some money from relatives. You could input this into your spreadsheet as part of your Income.

Amount is self-explanatory. Make sure the amount matches up to the Income Type and is accurately inputted. You are better off being specific. Rather than £293, be specific to the decimal: £293.43. These all add up.

Saving Management

The Saving Management section allows you to set saving goals, planning for the long term. This is split into 4 Sections:

  • Saving Type
  • Amount Spent
  • Amount Saved
  • Total Goal

Saving Type, like Income Type, is your own personal reference, for example: House Deposit Pot.

Amount Spent is an input for if any money has been taken out/used from that Saving Type.

Amount Saved is the input for how much you are putting into that specific Saving Type (Per Month) – If this is your first time using the sheet and you already have money saved, simply put the current amount saved + the amount saved this month and enter that as the figure within Amount Saved.

Total Goal refers to the Total amount you are aiming to have saved for that specific Saving Type.

Expenses

The Expenses section is a great way for managing regular & non regular expenses throughout the month such as: Rent, Food Allowance, Subscriptions etc. This is split into 2 Sections:

  • Expenses Type
  • Amount

Expenses Type is your personal reference for the cost, this can be named anything as long as its clear to you.

Amount is the cost of the Expenses Type.

Expendable

Expendable refers to money you aren’t planning to save or use to cover expenses. This money is purely for leisure. At 123 Finance we believe its important to decide on a set amount each month so you always know where you’re up to finance wise. With Savings & Expenses already Covered, you can use the Expendable without worrying about being left short.

Output

Output refers to the calculations made based on the User Input. Within Output there are 2 core sections:

  • Amount Left
  • Saving Progress

Amount Left

Amount left is relatively straightforward. This is the amount of income left after Saving, Expenses & Expendable are covered. This Amount Left can be used to increase the Amount Saved or Expendable. We always recommend that the amount left eventually is left at 0. Good practice is to have a Spare Pot for when any unexpected costs arise. To increase the Amount Saved or Expendable, simply go back to the User Input section and increase the amounts.

Saving Progress

Saving Progress is an overview of your saving management. Provided above is a complete total of all you’re Savings. For clear understanding, Saving Progress is broken down into 3 Sections:

  • Saving Goals Type
  • Current Amount
  • Percent Saved

Saving Goals

Saving Goals Type matches up to the Saving Goals Type within the User Input.

Current Amount

Current Amount will calculate the Amount Saved & Amount Spent, including from past months. For example if you saved £500 in January, February and March; The Current Amount for March would be £1500.

Percent Saved

Percent Saved is based on the current amount how close that is to the Total Goal, giving a clear overview of how you are progressing towards your goal.

Conclusion

In wrapping up, understanding and managing finances can often seem daunting, but with the right tools and guidance, it becomes a journey of empowerment. The 123 Finance Management Sheet is more than just a tool; it's a roadmap to financial clarity and success. As you familiarize yourself with its features and intricacies, remember that every entry, every click, brings you one step closer to your financial goals. Here's to a future of informed decisions, clear financial insights, and the peace of mind that comes with it. Now we have covered the Finance Portal, lets now take a look at Navigating the Resources Guide: