A- Financial models are usually made on excel sheets. Being given its nature, it is a bunch of various heads and amounts. Preparing it in an unorganized or monochromatic way can lead to confusion or lack of interest by the reader. As we know that designing and understanding a financial model is important, those creating a financial model are suggested to use templates. This saves the time and effort of a person trying to start from scratch. Also, it leads to the preparation of a graspable model which can be understood by everyone and not just by the one preparing it. Also, they come in very handy while having presentations or deals. The sheets are self-explanatory which often leads to the other party thinking highly of you.