How to Make a Budget in Excel

Do you want to take charge of your finances, ditch debt and save money so that you can be in control of the life you really aspire to live? It might seem impossible and out of reach right now but you can do something in order to get there. One of the major things you need to do is creating a simple budget template. Creating a budget would be easier and more manageable with Microsoft Excel. However, if you have no idea how to use it, this article will help you. We glad to provide you some information that will serve as your step-by-step guide on how to create a personal budget in Excel. Remember, these are also applicable for many versions of Excel, including Excel 2013, Excel 2016, Excel 2019, and Excel for Mac. how-to-make-a-budget-in-excel

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  • For Windows: Click on File, then select New. Browse through the templates section, select Blank Workbook.
  • For Mac: Go to New Document, look for a template, then select the template of your choice. Edit as you wish before saving.

How to Create a Budget Using Microsoft Excel

Despite many financing and money-saving lessons that you can read in numerous articles and books, perhaps there are times that you still managed to make a few money mistakes and eventually, you struggled financially. Thus, you can make different kinds of budget templates in Excel such as a financial spreadsheet, business budget, household budget, etc. Making a budget with Excel can seem challenging, especially if you are not familiar with the tool. However, if you follow the procedures outlined below, you can create your budget in Microsoft Excel without difficulty. Here are the points that you need to remember on how to make a budget in Excel for college students, working professionals and other individuals:

1. Open the Microsoft Excel program.

2. Go to File, select New, then click Blank Workbook.


Note: For those whose preferences go beyond what Excel can offer, you may choose from the pre-existing budget in excel templates in

3. Block out a section of columns to use as a heading once you have a blank workbook. To do so, choose the first two rows in columns A-R, for example, and then select Merge and Center from the Home menu of the workbook. As a result, the entire section will be labeled A1, and you can customize it however you like. You can also do it to other columns and cells.


4. Select the entire section to make your Excel budget look cleaner. Then, select All Borders from the borders tool (which looks like a square divided into four) under the Home tab. You can also darken a few sections to make it easier to read.

5. Once done designing your budget spreadsheet, enter the formulas that will calculate everything for you automatically.


Note: To add the formula, click the fx button. The formula builder will appear on your screen when you click that icon. In the formula builder box, double-click the SUM formula. You can now begin creating and incorporating your formula.



6. Customize and put all the necessary data and details needed for the budget.

7. Once you’ve created all of the sections you want to track and put all the necessary data in, it’s crucial to know your running balance. Thankfully, you can bury your calculator in your drawer, and Excel will keep track of it for you.

8. After everything, click Save to save your budget sheet.

How to Make a Budget in Mac Using Microsoft Excel Templates

Mac devices, like their Windows counterparts, can help you with budgeting by using Microsoft Excel. But if you have no idea how to do it, follow the steps provided below. It can help you create a budget on your Mac device using Microsoft Excel templates.

1. Open Microsoft Excel program.

2. Look for a template or project gallery. Choose the template that best fits your requirements.


Note: For those whose preferences go beyond what Excel can offer, you may choose from the pre-existing budget in excel templates in

3. Once you chose the budget template that suits your needs, click into boxes (cells) and change the sample figures with your own. Make sure your data are factual and accurate. You may also customize the appearance of your spreadsheet with Apple’s Numbers and a variety of other tools.


4. The spreadsheet updates the calculations to represent the current situation of your finances as you type in all of your personal numbers.


5. Once done, click Save to save the file.