1. Screenshots and Details

Now in its fifth version, ExcelGeek's Freedom Account spreadsheet consists of four "actual" workbook pages, plus a fourth "Version 5.0" worksheet that simply generates a pop-up "About" informational window. (Screenshots will be from Excel 2007.)

The first two pages, "Spending Plan" and "Freedom Account," are where your data is entered and tabulated. The first page, “Spending Plan,” is where you organize and set up your sub-account categories and expense amounts. The “Freedom Account” page is where your transactions are recorded (deposits and withdrawals, similar to a checkbook). The third page, "Help Notes," contains instructions and tips for using the workbook. (If you like, you may download the Help Notes on the Calendar Controls page.

Main / Setup Page ("Spending Plan" tab)

Here's the first worksheet. It's where each user sets up his or her Freedom Account and creates all its subaccounts:

The spreadsheet can handle up to 20 subaccounts. In seconds you'll name your subaccounts. Each subaccount gets both a full name, and a "Short Name," which is simply the full name abbreviated for space. Once that's done, your subaccounts are viewable at a glance.

You'll then tell the spreadsheet how much you need in each subaccount in order to fully fund it, as well as how often you'll need to withdraw that money (monthly, quarterly, or yearly). The spreadsheet crunches the numbers for you and breaks down your necessary deposits in the manner you select: Monthly, Bimonthly, Biweekly, or Weekly.

You'd then repeat that same process for each of the subaccounts you wanted to create.

Freedom Account Register ("Freedom Account" tab)

This is the page where the user enters his Freedom Account transactions (all deposits and withdrawals) and views all balances. It also shows a handful of other data about your subaccounts, such as the percentage of each subaccount that has been funded toward its goal.

As stated before, the register can handle up to 20 subaccounts. You'll see them all here, with a list of your transactions sorted by date. When the time comes to make a transaction that affects your Freedom Account, you'll simply fill out the register with the details.

However, this page is also where the automation shines! When the time comes for you to make your Freedom Account deposit — whether you do so on a monthly, bimonthly, biweekly, or weekly basis — the spreadsheet can automatically enter and categorize your deposit to the guidelines you specified on the Setup Page. What this means is that if you have 17 subaccounts, and you make 1 monthly deposit to fund all 17 subaccounts, then the spreadsheet can automatically enter a single deposit transaction on the date you select ... and split the correct amount of money into all your subaccounts with a few simple clicks of the mouse.

No more clicking through 17 different worksheet pages to make your monthly deposits! Now it's done with a couple of mouse-clicks. It doesn't get much easier than that!

Deposit Goals w/Comments

This is the section of the Main / Setup Page ("Spending Plan" tab) where the user specifies his or her Freedom Account goals and goal amounts:

Once you've told the spreadsheet how much money you need to set aside for each expense category, you would select one of the four radio buttons to choose the frequency of your deposits: monthly, bimonthly, biweekly or weekly. Most users, for instance, make one deposit per month into their Freedom Accounts. That single deposit is simply the total of all amounts required for each of your subaccounts on a monthly basis.

Calendar w/Automated Entry

This feature is hidden behind the scenes in the Freedom Account Register page. It is the automated feature which allows the user to date and synchronize all transactions:

All you need to do to automatically enter your Freedom Account deposit is to double-click on the next blank "Date" cell in your Freedom Account register. The Calendar window pops up. Select the date for your deposit from the Calendar, click the "Auto Deposit" button, and the spreadsheet splits the correct deposit amounts into each of your subaccounts — no matter how many you have!

Bank Balance Calculator

This is the feature which allows users to quickly identify what amount of their bank balance is not associated with their Freedom Account.

This tool is included since so many folks keep their Freedom Account money in the same savings or checking account as their Emergency Fund or other funds.

As long as you've entered all the correct transactions and transaction amounts, the Freedom Account spreadsheet knows your Freedom Account balance. So, once you enter your total bank account balance into the Bank Balance Calculator, the spreadsheet can tell you how much of that bank balance remains after your Freedom Account balance is subtracted.

And voila — now you know how much of your bank account balance is not assigned to your Freedom Account!

Automated Year-End And Reset Functions

For mere mortals like myself, resetting the FA spreadsheet each year (it's good practice to do so) could be a bit of a pain. Of course, if you're ExcelGeek, you know how to make Excel do this sort of thing for you with the click of a button. Which the FA spreadsheet does.

10-10-80 Budgeting Feature

ExcelGeek also built an optional budgeting feature into his Freedom Account spreadsheet. Whether you use it or not is up to you — its inputs have no effect on the rest of your Freedom Account data — but having this simple budgeting tool included with the FA spreadsheet has been a great convenience for some folks. (It's located at the bottom of the "Spending Plan" tab, by the way!)

Perpetual Calendar Feature

Clicking the "Calendar View" tab brings up a calendar that looks like so:

Use the perpetual calendar to help track whatever you like — bills, birthdays, upcoming Freedom Account transactions ... you name it!

Instructions and Tips

This page contains instructions for using the spreadsheet and adapting it to your household's needs.

I've also made the Help Files and instructions available for download on the FAQs and Stuff page. They're free for the clicking. I figure that by doing this, readers can get a better idea for the spreadsheet's purposes, capabilities, and "operating requirements." (Of which, incidentally, there aren't many!)