Free Personal Budgeting Templates

Last Updated on May 2, 2024

Keeping track of your monthly expenses using a spreadsheet or personal budgeting templates can simplify money management. Whether you prefer using an Excel spreadsheet or a Google Sheet to outline and monitor your budget, it can help you better manage your finances.

Discovering the right template is the first step in initiating your budget planning. Developing a personal budget is essential not only for your financial well-being and peace of mind but also for achieving your short and long-term objectives. Taking charge of your finances through a personal budget template will propel you towards these goals.

Follow these steps to establish your personal budget:

1. Identify your goals: Take some time to list your short and long-term goals. Determine the priority of each goal, the method to achieve them, and the timeframe for completion. Short-term goals, like paying off a credit card, should be achievable within a year. Long-term goals, such as saving for your child’s education or your own retirement, may take several years.
2. Monitor your spending: For accurate estimates of how much to allocate for each expense in your personal budget, you need to understand your current spending in each area. Review your bank statements from the past three to four months to gauge your spending. While you can adjust the budgeted amounts, this baseline will guide you.
3. Personalize your budget: Using a personal budget template is a great start, but feel free to tailor it to meet your specific needs. Also, remember that your expenses and goals may change from month to month. Regularly check in on your budget and update it as your circumstances evolve.
4. Discipline: Successful personal budget planning requires discipline. Stay committed to tracking and managing your finances to achieve your financial goals.

Personal Budget Template for Excel

Now that you’ve listed your goals and started tracking your spending, it’s time to make your real budget using a personal budget template. Keeping up with a spreadsheet demands discipline, and constructing one from the beginning can be time-consuming. Save yourself the trouble of setting up rows, columns, and formulas using a ready-made Excel or Google Sheets template. This template covers the whole year.

Download for Excel | Google Sheets Access

After entering the specific amounts for your income, expenses, and savings in their respective categories, you’ll notice that the monthly totals are automatically calculated at the bottom of each column. Furthermore, the totals at the end of each row indicate your year-to-date sum for every budget item, category, and section.

The top part contains your budget dashboards. Dashboards offer a quick visual summary and overview of your budget’s health. They update automatically whenever you make changes to your personal budget sheet.

Simple Monthly Budget Template

If you have a regular, set income and want to view one month at a time, this is the template for you. Each month is in its own tab. The template has three months, and you can easily copy the tabs to create more.

Download for Excel | Google Sheets Access

Monthly Budget Planner PDF

If you prefer filling in the budget by hand, this monthly budget planner PDF does the job. Fill in your income, e.g., salary, side hustle, and dividends. For expenses, it’s best to categorize items such as grocery shopping, eating out, etc., and combine all the expenses from that category into one amount. Remember to list all your subscriptions and monthly recurring payments, such as mortgage or rent. If you run out of the expense rows, try to categorize the items further. Evaluate if you could actually eliminate some of the monthly expenses for the future. You should also keep your personal business expenses separate.

Download Monthly Budget Planner PDF

Conclusion

Personal budgeting templates serve as invaluable tools in managing finances effectively and achieving financial goals. By providing a structured framework for tracking income, expenses, savings, and investments, these templates empower individuals to gain insights into their financial habits and make informed decisions. Whether you’re aiming to pay off debt, save for a big purchase, or build wealth for the future, utilizing a personal budget template can streamline the process and foster greater financial awareness and discipline.

Michael Hayes

Michael Hayes is a seasoned financial expert with a passion for empowering individuals to achieve financial freedom. With over a decade of experience in financial planning, investing, and debt management, Michael has helped countless individuals navigate the complexities of personal finance.