Money. Money. Money. How are you going to spend those when you have so many? How are you going to live when you don’t have any? It is important that you plan how to allocate your budget properly; which is why in this article, we have provided you with five easy to follow steps on how to create a budget template. We also have compiled ten ready-made budget templates in Microsoft Excel for you.
5 Steps to Create a Budget Template
Step 1: Create a spreadsheet.
The first step to create a budget template is to open a spreadsheet program which is available for you to use such as Microsoft Excel, Kingsoft Spreadsheets, OpenOffice Calc, Google Sheets, Numbers, and Gnumeric. One of the most common spreadsheet program is Microsoft Excel. If you’re using it, you just have to click New Blank Workbook after you opened the program and you already have a blank spreadsheet.
Step 2: Determine your budget period.
Next is you have to determine what specific length of time your budget template is for. It is important so that you can manage your finances properly. You can make a monthly budget template, an annual budget template, or whichever you prefer. If you’re making an annual budget template, start typing the name of each month in cell B2 to cell M2 of your spreadsheet.
Step 3: Set up an income and expenses tab.
In column A, enter your source/s of income first?—this will let you know how much money is available to spend. Leave one cell blank then list down your expenses such as groceries, gas, clothes, bills, etc. Now that you’re done listing, fill in the columns with its respective figures.
Step 4: Add formulas.
With the columns already filled with figures, you can now calculate how much you earn and spend per month. To do this, select a cell next to the figures you want to add and click Autosum on the Home tab, after which, press Enter. To compare your income and expenses, create a separate section at the bottom of your spreadsheet and label it Cash Balance. On the cell next to it, type “=” then click on the cell which has the total amount of your income. Next, type “-” and click on the cell which contains your total expense and press Enter.
Step 5: Save your spreadsheet.
After you’re done with your spreadsheet, save it. You can also save a blank copy for future use or for you to send to your family members and friends. The last and the most important thing you should do is to evaluate your spending habits so you can adjust it. See which areas you overspend and look for cheaper options.
9+ Budget Templates in Microsoft Excel
1. Student Budget Template
As a student, you need to keep track of your expenses and see whether or not it fits your monthly or weekly allowance. Manage your finances better with the help of this Student Budget Template. Aside from MS Excel, this file is also available in Google Docs, Google Sheets, MS Word, Numbers, and Pages formats. You may also download a student planner template to assist you in planning your student life.
2. Daily Budget Template
Manage your daily expenses by using this daily budget template. With this template, you can avoid overspending and have a more organized lifestyle. It is customizable and ready to print in A4 and US letter sizes. Download this premium template now at an affordable price!
3. Vacation Budget Template
Going on a vacation? Control your finances with the use of this premium vacation budget template. By having this template, you can write down the expected expenditures for you to know how much cash you’ll bring for your trip. It is available in several file formats such as Google Docs, Google Sheets, MS Excel, MS Word, Numbers, and Pages. Download now and start planning your trip.
4. Monthly Budget Worksheet Template
Monitor your monthly budget using this monthly budget worksheet template. This template is the solution to your budgeting problems; with this, you can set limits on how much you should spend so you won’t end up short on cash at the end of the month. This template is fully customizable in MS Excel, MS Word, Numbers, and Pages.
5. Free Household Budget Template
Be financially smart with this household budget template. Through this template, you can make a list of your expected income and your expenditures which would be of great help in your financial planning. This template is available in numerous file formats and it’s free to download.
6. Free Monthly Budget Template
Compare your projected monthly budget and actual monthly budget with the help of this free monthly budget template. Also, this template will help you plan out how you will spend your money for the month. It can easily be modified to best suit your needs.
7. Free Personal Budget Template
This well-formatted budget template will assist you in making your personal budget plan. This template allows you to properly allocate your finances. It is available in MS Excel, MS Word, Numbers, Pages, and Editable PDF file formats.
8. Free Budget Worksheet Template
This comprehensive budget worksheet template allows you to see the difference between your budget and your actual expenses for your home, transportation, and health. This template is easily editable to conform to your needs. It also supports both Mac OS and Windows. Plus, it’s free! Click download button now!
9. Budget Planner Template
This budget planner template enables you to plan out where and how you should allocate your money. It is fully customizable and downloadable in MS Excel file format.
10. Personal Budget and Weekly Expenses Worksheet Template
With this personal budget worksheet template, you can keep track of your expenditures from the housing to the miscellaneous. It can be easily edited to best suit your needs. Download now!