How I Manage My Money: My Financial Mastersheet for Income, Expenses, Net Worth, and Budgeting
Вставка
- Опубліковано 14 чер 2024
- I share my Master Financial Spreadsheet that helps me track my Net Worth, Investments, Income, Expenses, Bank Accounts & More. Free resource for download as well in this video description.
▶️ THE MASTER FINANCIAL Spreadsheet: beacons.ai/humphreytalks/free...
All you have to do is hit "File" then "Make a Copy" and copy it to your own Google Drive. It's the same as is in the video, change things up for yourself. If you want it as an excel file instead, hit "File" and then "Download - Microsoft Excel".
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Timestamps:
0:00 - Start Here
1:34 - The Summary Snapshot
3:18 - Income (Salaried)
4:00 - Expenses
7:38 - Fixed Expenses
8:39 - Assets & Net Worth
10:07 - What a Filled Out Sheet Looks Like
10:40 - The Funnest Graphs
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📧 GET IN TOUCH: I'd love to hear from you! If you have a longer question, or if you have a business related inquiry, please then send me an email at humphreytalks@gmail.com. I try my best to reply to all e-mail but sometimes I do not have enough time to respond to everyone.
PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel
Yes, market crashes. Yes it has not bottomed, It has no business at this level in the first place, pumped up by the Fed and central banks around the world. You can still be 100% invested at this level. Good luck! I prefer to sell the bounce and keep 50% cash. I will not get back into the market more than 50% if S&P is not 30% lower from here. I trade and make quick profits. With this inflation and my expectation on the economy, I am ok with 70% cash. I don’t short the market. Just keep selling the bounce!
describe an unknown factor that hasn't been plastered all over UA-cam headlines already
I am sitting on cash. I sold my stocks but the best part about this sell-off i have been mostly right, the worst part about it is that i don’t short anymore so I’m not making so much money but at least i will get to buy twice the stock with the same USD amount.
@@amiracentenososa3847 Profit comes for proper trade execution thats why i hired a wealth manager. I have racked up in profits $758,405 from $185k capital in sept 16 last year to be exact on my portfolio.The best time to diversify according to my CFA Mary Freed Lorenz is now and with what is playing out in the markets, she is more defensive while shorting.I watched a news interview on where she featured during an IPO and spoke proficiently, caught only her name and did a search later online.
@@hermandavid6813 Make sure to do plenty of due diligence on any online financial advisor who charges a one time fee. Not saying this person isn’t trustworthy and legitimate, but I’ve seen many similar pitches that are scam
I have always tracked every expense but your spreadsheet is making it all so much easier to read and organize. This thing is gold to me! thank you so much!
Thank you so much Humphrey!! I have learned a great deal from watching many of your videos. Today, I even learned how to copy Excel files on Google drive!!!
Wow! What an accomplishment, Humphrey! I'm so happy for you! I'll apply this. Thank you for the great tip. You deserve all your success
thanks Jeremy!!
It's great to see how other people record and analyse their own financial data - I made a spreadsheet myself when Covid 1st hit and it makes planning for the month/year ahead so much easier (Will definitely be adding charts now that I've seen yours in action!).
That is awesome!
Absolutely amazing. All this hard work. Thank you for making this.
this spreadsheet is PHENOMENAL
Beast of a channel. Congrats on your well deserved growth
Much appreciated, thats an awesome comment
You’re awesome for this, thank you!
Not overkill, I totally get it
Dude I love this! I think I’m gonna try this out
ty Admani
I use Personal Capital and it does it automatically for what I need!
Love this!
Thanks for sharing this!
great vid and sheet. thanks so much for sharing man!
You bet!
The thumbnail got me!
THANK YOU SIR
Man, the first title was such a good searchable title yet seeing this updated one, it TOTALLY makes sense 🔥💥🔥😁😁
I'll probably change it to the searchable one in a few days lol
@@humphrey lolol, fair enough :)
First like and first comment! Thanks Humphrey for making educational and entertaining videos!
Nice!!
Awesome Spreadsheet! Don't let Graham see that coffee budget 🤣
Deal! lol
Thanks Humphrey!
you are welcome Mr. Daffy :DDDD
This is amazing!
Gotta love excel sheets. This has been my favorite one I’ve seen so far! May have to steal it from ya! Great video as always.
Can’t wait to watch this, definitely needed this- THANK YOU 🔥
You're so welcome!
Such a great video!
Thanks for this!
My pleasure!
Thanks very much for sharing this info. I will have my college aged daughter and recent high school graduate son using this tool. Again, thank you
Glad it was helpful Matthew :D
amazing video
That would also be great for accounting a business
Thanks for sharing excel
You are welcome!
Very cool of you!
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Great video, thanks!! I think tracking to this level of detail is really important for those who have either lower incomes or low savings rates. Its really important to understand which levers you need to pull to get your expenses under control!
Cool spreadsheet! I assume you already have a dividend spreadsheet as well? Anyways, one thing that I would add is instead of inputting the dollar amounts from your investments, input the amounts that you hold then multiply it with the share price (or coin price). This gives you a more accurate number, and it’s also automatically updating with a live net worth as the markets fluctuate. I set mine up with power query and import the financial data through tradingview. Let me know if you need help with this, I would love to do this for you free of charge!
Thanks so much for the video! Super helpful! What app do you use to track expenses?
I also follow similar routine to keep track of my expenses.
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I only started tracking my net worth when I was 28. Wish I started sooner as I would have paid attention more to where I was putting my money.
This is unreal! So much great information here Humphrey and congrats on hitting one mil net worth! I'm grinding to be like you one day :) amazing video as always!
thank you and you got this!!
@@humphrey appreciate that!
Thank you for this =)
No problem 😊
Looking good! Are you using it for financial modelling too or just tracking?
I use Mint because it tracks all my bank and investment accounts in real-time. Plus, it allows me to create fine-grained categories and add notes to each transaction (e.g., if it is something from shopping, then I'll add a note telling what that item was). But I like how you used that data to make those charts to give you more insights and just a better understanding of where you are with your finances. I will definitely try to play around with your spreadsheets, thank you! Given that Mint allows exporting all transactions with their metadata (like dates, categories, and notes) I can get the best of the app and your spreadsheets =)
I front loaded my 401k contribution. Therefore, my take home income for the first 4 months is quite low. On the column for salaried income, do I enter my take home income (minus the 401k contribution)?
Thanks for the sheet Humphrey! I also created my own Net Worth/P&L tracker and I have a couple things I'm doing differently and would love to head your thoughts
- Shouldn't the net worth section have a liabilities portion as well, for items like balances on home mortgages, student loans or other debts? I think you mentioned you live at home so you may be completely debt free, but for those of us with some sort of debt, that should be subtracted from the total assets to get to your net worth.
- The way I handle large purchases is a little different. In my budget, I basically amortize the cost of large purchases over an expected period of use time. For example, I put $250/mo. under expenses for 'Vehicle Purchase', as I estimate that I am going to buy a $30K vehicle (net, after trade-in) every 10 years ($30000/120 months). I do the same for cell phones ($1000 every 3 yrs), vacations, home repairs and furnishings. Upside is it reduces the 'lumpiness' of expenses but the downside is that it's not a pure cash view as I think you're doing, which is also useful.
Anyway thanks again for the video!
I've considered the amortization method before. I think it works well, I usually just look at my stats on a monthly average anyway, so if I was in April I'd just be totaling up my four months divided by four, June divided by 6 etc, so I think you can do it either way. For the liabilities portion, I don't have debts so it's a bit naive for me. Once I have a mortgage payment I'd probably add the liabilities section, but I'd probably just create a separate line for "Mortgage Expense" under "Fixed Expenses" section and just call it a fixed expense.
What do you do about pending charges and stuff like that at the point of recording? I always get tripped up when trying something like this about when to record the data. 1) when I actually make the purchase, or 2) when the money leaves (or enters) my account officially
Hi been following your channel for quite sometime..I do have one question..what happens to all my investment if I pass away?will my heirs get it tax free? Thanks 😊
What spending tracker app wpuld you recpommend for a couple? Wife and I pool our resources and like your spreadsheet for the detail. My missing piece is the spending transaction capture.
This is really cool, thanks for sharing! Do you have a place where you are tracking how/where you are spreading the savings to, or is the $ figure of the savings rate row essentially what you keep in checking?
Hey Humphrey, what are the rules you're using to turn the cell red, yellow or green? I'm using the spreadsheet but the overall profit/loss column shows red despite me having a profit. I feel like it would make more sense to only turn red if I'm in the negative. Thanks!
I believe its conditional formatting for positive/negative
Can anyone give me some advice on sing this excel sheet. Where do we put our 401k payment. In fixed expenses?
Anyone know the tracking app he uses? Mentioned it a few times
Spending Tracker on iOS
Hi Humphrey, really interesting, thanks! I can't find the link to your spreadsheet in the comment section...can you point me in the right direction please?
Its in the description, but here too: docs.google.com/spreadsheets/d/1qC11pdB_S7ZZZxevoHut_JjdlH28BA__wAzg-SroSj4/edit#gid=815400425
@@humphrey cheers mate!
How do you manage your credit cards?
I know this video is older but for those who see this I made a graph that could be useful. Highlight Summary all the way down to December at the top left and without highlighting the Income section highlight the Expenses and Profits/Loss sections. Insert a stacked bar graph or an area graph. Boom now you have a graph that shows you how much your expenses eat at your income. Some problems occur with how the graph looks if you are in a loss so don't do that.
maybe I missed it or cant see it...but where is your electricty/gas bill or mortgage?
I can’t use File and go to Excel on an iphone. Any solution?
Ok i figured it out - Thanks from Singapore !!
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You said you use a spending tracker on your phone - which one do you use?
"Spending Tracker" on iOS
does anyone know if there is a notion version of this anyone open-sourced?
What’s the spending tracker app you use?
It’s called “spending tracker” on the App Store
@@humphrey thanks
What app does he use to track his spending?
"Spending Tracker" on iOS app store
Is there any way that you could send this in a regular excel format.?
Open as a Google Sheet and hit “share and export” it should give you a bunch of options. One of which will be Excel.
He’s actually added that advice in description.
Devastated to see he has a Date budget ... he is MINE ladies!
❤️🔥
752k subscribers and you reply to comments 👍
I do
Have you ever used a free version of something similar? Wealthica is what I use 😎 I love automation (And it also tracks crypto with some accounts). I'm in canada so it may not be as effective south of the border...
I use mint. It does just enough for me and saves me so much time.
Nice Ill have to try that...!
wow, does no one else know how to do this?
I don’t know it might be that scrooge inside me but I still drinking just because I got tired of spending too much money at the bar, but honestly I scared up a lot of Isis just so I can save more money.
how to get rich: make youtube channel on investing for broke college students and become an internet idol
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Humphrey, love the spreadsheet! I have a much smaller one than you that tracks my monthly P&L for the year. I have an investing question for you... So I am 23 and have been working for about 9 months since graduation and have a 401(k) through my employer which is the bulk of my retirement accounts. As well as a Roth IRA with a very small amount in it that I don't add to as often because I am trying to build up my savings account a bit. I used Robinhood in college but pulled all of my money out of there after the wall street bets stuff a few years back - I am looking for a reliable investing site where I can do some personal investing that I can pull out fairly quickly and was wondering what your recommendation is? I don't really trust Robinhood anymore because of that stuff so I need a reliable site that I can pull out if needed. Thanks!
misc body.
The high "treating people" percentage... I feel like it's definitely a Chinese thing. LOL. No, but, seriously, it's good karma in moderation. I'm surprised you don't donate to charity. It can contribute a significant tax write off.
Clickbait title. The sheet did not make you a millionaire, your investments and income streams did.
Hi Humphrey! I lead a team of learning designers and would love to talk to you more. I sent you a message on Instagram but not sure of the best way to reach out to you. Im interested in having you potentially speak to my team! Please let me know the best way to discuss more. Would this be through your patreon? Thanks!