Though a monthly budget is generally the most reasonable timeframe for which to set up an initial personal or household budget, there are many sources of income and expenses that do not perfectly follow a monthly schedule. You may even find that some months are different than others, but you should find through going through this exercise you are better prepared for those changes and even accounting for unanticipated personal expenses. As everyone’s financial situation is different, you may find that not every category is applicable to your income or spending. How to Use Your Free Personal Budget Templateīelow is a free excel monthly budget worksheet template for a personal budget that attempts to list possible sources of monthly income as well as expenses. An accurate budget will also help you to answer that ever elusive question, “Can I afford it?” Several Excel budget templates will pop up, such as a family budget. Though the word budget has taken on a more negative connotation over the years invoking an image of pinching pennies or limited spending, a budget is really just a tool-and a great tool at that-to gain better and more accurate insight into your spending habits.īy listing all of your sources of income against all of your monthly expenditures (from required expenses like mortgage or rent payments to discretionary spending like eating out or going to the movies), you get a true picture of your personal cash flow, which will allow you to make better and more informed financial decisions. When you open up the program, simply go to File>New, then search for the term budget. This is my favorite Excel sheet I have found, but the downside is that is only a, but the full version is 15. If you want to see them in action, you can check out this video here. By taking a closer look at your budget, you can gain better control over your finances. Here are all the personal budgeting templates listed in no particular order. This detailed template offers a summary of your income, expenses, and savings goals (both in aggregate and by month) on one sheet with a detailed monthly breakdown by category on another. A personal or household budget is an itemized list of expected income and expenses that helps you to plan for how your money will be spent or saved as well as track your actual spending habits. Using monthly budget sheets helps make it easier.
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