How to Use Microsoft’s “Money in Excel” to Manage Finances

Managing cash, expenses can be a daunting task for many, but with the right tools, managing finances can be made easy. Therefore, to simplify things, millions of people across the globe use Excel and manage their budget, finances, expenditures, overheads. Looking at this, Microsoft is starting to roll out Money in Excel – a new feature to streamline money matters and help stay on track for longer financial goals.

What is Money in Excel?

Now without installing an additional app, you can manage finances easily.

Money in Excel is a smart template and add-in. Using which you can securely connect your credit card, add bank accounts, loan accounts, and investment automatically to Excel. When you use Money in Excel, it imports transaction history in an Excel spreadsheet for all the shared accounts.

This helps view and to manage all accounts in one place.

Who can use it, and how to use Money in Excel?

If you are subscribed to Microsoft 365 Personal or Family in the U.S., you can use the template. To download it, visit this link. The template will cost $6.99 per month for the Personal edition, limited to the single user while Family edition will cost $9.99 monthly, and it can be used by up to six people.

How to Use Money in Excel?

Once downloaded, open the template, and follow on-screen instructions to connect your monetary accounts. For this, Microsoft uses a third-party plugin supported by Paid.

Once the account information is verified, the workbook is updated with the latest transaction history, and you are all set to use it.

How Money in Excel simplifies managing resources easily?

  • Helps keep track of money – Once all financial accounts are connected, Microsoft Excel imports transactions into a single book. This means without spending hours setting up a spreadsheet for different expenses; you can see them all at one place in just a few seconds. Moreover, by clicking the Update button, you can get the latest account information in Excel.
    Helps keep track of money,
    Source – Microsoft
  • Gets you closer to financial goals – Once all the finances are imported in Excel, you can easily track your expenditures. To get a glimpse of your disbursement use Snapshot. Also, using the graphs, you can easily compare monthly spending. This way, you can know where you are spending. This way, you can know where you are spending unnecessarily.
    Gets you closer to financial goals
    Source – Microsoft
  • Customizable – If a specific transaction doesn’t fall within the spending category, you can create your own. This feature helps decide which expense is necessary and which is not.
    Customizable in excel
    Source – Microsoft

Money in Excel is more than a template; it is your money manager using which you can track monthly spending, get price alert notifications, etc. Also, it marks bank fees, overdraft charges, and other outgoing charges.

Alongside, transactions from the accounts added will be automatically imported and updated; this makes managing resources easy.

Moreover, it gives a practical edge to manage financial matters, and the eye-catching graphs make analysis easy. So, what you think about getting Money in Excel templates today and start managing your money matters.

What do you think about this feature? Can it be better than money management apps? Share your thoughts in the comments box.


  • comment_avtar
    Srishti Sisodia
    Awesome feature will try it thanks

    4 years ago

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