The main theme of my blog is helping people create their own financial plan. I’ve been creating a master financial spreadsheet with the idea that it could track someone’s entire financial life. I’m a CPA financial planner by day, so I know the essentials of a financial plan well, but want some feedback for what types of things you might be tracking in your finances that would be helpful to incorporate.
I found some more things that would be helpful as well when I ran across this article this week:
http://www.budgetsaresexy.com/how-spreadsheet-changed-my-life/ (great article @J.Money !)
So, for all those spreadsheet nerds out there like myself (I know they exist because that article was super popular!), I’d love some feedback.
Right now it includes:
- Cash flow tracking, savings rate calculations
- Financial goals
- Calculation of emergency fund based on 3-6 months (linked to the budget)
- Debt payoff schedules
- Net worth (past and current)
- Taxes (this may be the best feature, as it will directly link to budget/cash flow categories to project taxes at any point during the year and is updated for new 2018 tax laws)
- Calculation of life/disability insurance coverage needs (also linked to the budget)
- Summary of insurance policies
- Projecting retirement calculations and IRS/401k investment growth projections
- College saving calculations
- Aggregation of all investment holding allocations and comparison to desired allocation
I’m debating whether to add FIRE-related calculations as well.
So, what are some things that you track related to your finances that you’d love to be able to automate better or that you use a spreadsheet for?