Personal Monthly Budget Spreadsheet
Could you be contributing more to your retirement savings? Could you pay certain loans off faster? Some numbers are included in the Home Expenses category as an example, but you'll want to replace those numbers with your own. If you have a family, try our family budget planner for a more detailed set of budget categories. As everyone's financial situation is different, you may find that not every category is applicable to your income or spending.
Related Templates Family Budget Planner. Below is a worksheet that attempts to list possible sources of monthly income as well as expenses. The Month Total table at the top of the sheet provides the summarized budget details for the month at a glimpse. It also helps you in taking better decisions on your monthly savings and expenditures to increase your savings.
Though you do not need to go through this exercise every month, it is extremely helpful at the start as it helps you to develop the most accurate monthly budget to reference moving forward. The Monthly Budget Summary table in the upper right of the worksheet totals up all your income and expenses and calculates your Net as Income minus Expenses. Tracking your income and spending comes both before and after making a budget.
Using the Personal Monthly Budget Template
License User License Agreement. Begin by downloading the template and recording your income details in the first table from all sources. To use this template, just fill in numbers that are highlighted with a light-blue background the Budget and Actual columns. Microsoft Excel isn't free, but if you already own Excel, then you can create a budget without purchasing other budgeting software.
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Personal Use not for distribution or resale. If you use and customize any template for your personal budget, command conquer red alert make sure you understand how it works and always double-check the formulas. Creating a simple personal budget even if it is only on paper is one of the first steps to gaining control of your spending habits. Compare your budget and actual spending on a monthly basis.
If you are looking for a way to both create and manage your budget, try the the all-in-one Money Management Template. You need to be careful when adding or removing categories, to avoid messing up the formulas used for calculating the totals.
For a more detailed set of budget categories, see the Household Budget worksheet. After making a change, you should check the formulas to make sure they are still correct.
Free tool and guide to managing your money. You should regularly update the details for the actual expense incurred under each head. These should be your best, informed estimates. Or perhaps you would like to save up for a special or large purchase. You can easily change the categories as needed.
Personal Monthly Budget
You may also have certain expected or even recurring expenses that occur more or less often than monthly. Did you overestimate how much you'd spend on clothing, but underestimate the amount you'd spend eating out? The net value of each sub table is calculated separately. Also try our yearly personal budget to make a budget for an entire year.
Then allocate a budget for every type of expense at the beginning. If your Net is negative, that means you have overspent your monthly budget. We recommend you to update the list regularly for the actual cost incurred against the budgeted cost in order to correctly calculate the variation from planned budget at the end of month. If you've just entered the real world as a newly independent adult, or if you've been spending more money than you can afford, it's time to figure out a budget. You may learn how to use Excel better in the process.
Beginner's Guide to Money. For instance, you may receive a paycheck every week or two weeks, not once a month. Over the course of the month, track your income and spending. In that case, you will want to calculate how that adds up over one month's time and write that in the appropriate row and column. This represents your goal - you're trying to keep from spending more than this amount.
So, if you spend more than you budgeted for, the value in the Difference column will be red - to help it stand out as a warning. Should you find, on the other hand, that you consistently have money left over every month, you now have the opportunity to decide what to do with that extra cash. By planning many months ahead, you can account for variable expenses and estimate how major life changes like moving, changing jobs, or purchasing a home may affect your financial future. The difference between your budget and actual spending is calculated and formatted to make it easy to find out where you may be overspending. You should seek the advice of qualified professionals regarding financial decisions.
The reason I use Excel when working with my home and business budgets is that it gives me complete flexibility to keep track of the information the way I want to. You can easily allocate budget for a category of the expense and record the actual cost incurred for that category during the month. Write that number in the appropriate row and column.
The purpose of this type of budget worksheet is to compare your monthly budget with your actual income and expenses. You can manage various different kinds of expenses incurred related to home, daily living, transportation, etc.
We do not guarantee the results or the applicability to your unique financial situation. The flexibility comes at the price of possibly deleting or messing up an important formula, or making bad assumptions. Income and Expense Worksheet.
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