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Personal Monthly Budget Template in Excel

Proper allocation of expenses will help you to keep a track of your spending. Planning your savings and expenses will make your life easier. Using an excel template is a great way to undertake this type of financial planning activities.

How To Make A Personal Monthly Budget In Excel?

(Example of Personal Monthly Budget)

Download Free Personal Monthly Budget Template

Using an excel spreadsheet for preparing a financial statement, can be very useful. Such type of a spreadsheet will help you with complex calculations. You will get a quick glance of all your outgoings and incoming. The best part is that any changes in the figures, will be automatically updated for accurate calculations.

Here’s how you can do it

  • Step 1: Open a blank spreadsheet in excel.
  • Step 2: Type in various income and expenditure figures. Microsoft Excel will calculate the income and expenditure total for the entire month for you.
  • Step 3: Type each new month along a single row in an individual cell of the spreadsheet.
  • Step 4: Add your expenditure and income types in two different columns. You need to include all types of incomes and expenditures such as salary, other incomes, food expenses, utility bills, shopping, rent, mortgage payments, recreation etc.
  • Step 5: After putting these headings into your worksheet, you can continue putting in the calculations and figures. Microsoft Excel will calculate all the totals automatically at a later date.
  • Step 6: Click the cell where you would like the total to be and click on the auto-sum option in the menu.
  • Step 7: Click and drag the cells that you want to highlight and include in the total.
  • Step 8: After you have a formula in one cell, you can copy and paste that cell into the other cells that need the same formula.
  • Step 9: To calculate your outgoings total, repeat the above steps under the ‘expenditure’ column.
  • Step 10: To calculate the differential figure between your income and outgoings, click the cell where you would like this surplus to be displayed.
  • Step 11: Add figures for specific income and expenditures and the excel sheet will calculate the total. You could also use formatting functions such as italic or bold to make your sheet more appealing and clearer.

Google Docs Budget Spreadsheets!

Google has spread its reach to spreadsheets, online docs, forms and presentations, by offering free templates for finishing your planning activities, quickly and easily. You can try it absolutely free by signing up with Google for an email account and then access your Google Docs through the Google spreadsheets option. This sheet will help you to put together your income and expenditure statement for the whole month.

Google spreadsheets has a wide range of user friendly functionality that will meet all the key requirements for proper financial planning. It is capable of doing practically any formula that is used in excel. Both excel and Google Docs, are able to do the same things.

Google has managed to put some incredible tools for greater functionality such as Google analytic, gmail, docs, webmaster tools, spreadsheets etc. You can select the overall look, colors, size and usability, to customize it as per your needs. In other words, a free worksheet appears to be one of the best and the most cost-effective method of handling your expenses.

There are plenty of simple budget planner tools available today. Some of these may even cost you money. However, a free budget calculator is preferred by many. Few people believe that several of the existing software options are too complicated and could leave you with very little opportunity to customize. Follow the below steps for creating budget categories and a new sheet from a template plan with the help of Google Docs.

1. Go to the Google Docs home page and click ‘new’ from the template option after opening the Google’s Template Gallery.
2. Click on the Spreadsheet tab.
3. Go to the spreadsheet editor option and click on file, new, from the template option.
4. The Google’s template gallery will open with a Spreadsheet tab that has been already selected.

You could custom-design a new spreadsheet or use a Google template as the basis for creating a new spreadsheet. The templates are sample spreadsheets that have been already created for all particular purposes. You can choose a planner from the available Google’s templates and create your very own planning sheet. You could use these templates or customize it to adapt to your own needs. Using templates as the basis for preparing a new spreadsheet, will save you lot of efforts.

Best Personal Budget Software

A software that has been built for the purpose of your budgeting calculations, will allow you to quickly gain control over your finances, get you out of debts and meet your financial objectives. Correct allocation of your money is a key element for effectively employing your financial skills. It will allow you to set a limit for your overall spending. Thus, it will alter your financial future for the better.

A software will simplify your financial planning by organizing all your finances in one place. It will automatically allow you to clearly track where your money is being spent. It will allow you to set a budget allowance for all your expenses each month. It will alert you when you exceed the budget target. Thus, there will be fewer financial constraints during the month end.

You can set up your financial goals. Start by including the fixed expenses each month and then add these amounts with the other varying expenses. The software will allow you to create achievable and realistic goals by providing various tools for quick budgeting. You can even track your finances and spending by making sure that you are sticking to a set goal. The software will automatically keep a tab on your budgeting plans by notifying you and helping you to track your goals.

You have an array of options to select from, for your income and expenditure planning method. You could use an online program or software to make your financial panning really easy. You could even use Microsoft Excel 2010 for this purpose. In case you aren’t familiar with MS office programs or do not prefer to use it, you could even consider using Google Docs.

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