On the flip side, if you’re under-budgeting in another area, you can make adjustments that better reflect your spending habits. Having all your income and expenses in one place makes it easier to see day-to-day or week-to-week.įor example, if you’re overspending in a particular category, you’ll be able to see it right away. A well-crafted budget can help you save money, pay down debt, and achieve other financial goals. Preparing a monthly budget is essential for anyone looking to gain more control of their personal finances. For that reason, you won’t have a true representation of your financial health and you could be missing valuable information that can help you make better-informed decisions. Without a budget template, minor or variable expenses may fall through the cracks and not be accounted for. By tracking your expenses and income in a professional template, it’s a lot easier to keep track of minor details. Helps you track minor detailsĪ budget is only as good as the data it contains. Now that you’ve got a handle on what a budget template is, let’s look at a few of the benefits of using one. Expenses: Food, transportation, medical, utility, debt, pet, and variable expensesīudget templates also add these individual amounts together, showing you what you’re spending and earning in each individual category.ĭownload Excel template Why use a personal monthly budget template?.Income: Wages, tips, capital gains, bonuses.Generally, a personal budget template splits your income and expenses into categories like: In other words, a done-for-you template takes the guesswork out of creating a budget. While you can create your own budget planner, using a ready-made template guarantees that you’re not neglecting important financial information. And most importantly, a monthly budgeting template provides a bird’s eye view of your current financial situation. It lets you compare your budgeted expenses and income versus your actual expenses and income. Get the template What is a personal monthly budget template?Ī personal monthly budget template helps you plan your spending. We’ll also take a look at ’s personal monthly budget template. In this article, we’ll introduce you to a variety of monthly budgeting spreadsheets, worksheets, and planners that can help you in your budgeting journey. xlsx version of the template, mostly explaining how to enter different types of transactions (transfers, credit card payments, savings allocations, etc.).Much of the anxiety around budgeting your money can be reduced with a little proactivity, persistence, and the right budgeting template. This template is great for when you are first learning to budget and track your money, but it's easier to do more detailed analysis if your transaction data is in one register, like in the original Money Management template. The main disadvantage of this approach is that your transaction data is split across multiple worksheets, making it more difficult to create yearly reports. You can make a copy of the budget worksheet for each budget period. Although it lacks some features of the original template, I designed it to be easier to use (requiring very little Excel experience).
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Like my original Money Management template, you can customize budget categories and track multiple accounts, but this version includes everything in a single worksheet and uses fewer budget categories. This template works for a weekly, biweekly, or monthly budget.