Free Excel Monthly Budget Template: Your Essential Beginner Guide

Debt2Riches > Money Budgeting > Free Excel Monthly Budget Template: Your Essential Beginner Guide
Free Excel Monthly Budget Template
Spread the Wealth
  •  
  •  
  •  
  •  
  •  
  •  


Are you tired of searching for the right Excel monthly budget template? Then look no further! Your search is finally over. Obviously you realize you need a budget, but you don’t want the hassle of creating an Excel budget from scratch. I totally get it. Plus, your need for a budget is fueled by your financial frustration.

So Where do I get a Free Excel Monthly Budget Template?

I will share with you an essential Excel template that you will need to get started with your own monthly budget. This budget template will take the hassle out of creating your own budget template. 

You’re getting tired of living pay check to pay check and seeing the money in your bank account diminish each month before you have all of your bills paid and wants met. 

Where did all of your money go? 

Where will you get the extra money this month? 

You are desperate and ready for a change. You are tired of feeling poor and want to have enough money for your needs and wants.

 

Download my Excel Monthly Budget Template and Customize for Your Needs

Obviously, you need to start budgeting your money.

Excel is a powerful tool that you can utilize for your budget needs. 

However, what Excel budget template should you use? There are so many templates on the internet to choose from, and it seems overwhelming.

To help you get started with your Excel budget, I will give you the Excel Monthly Budget Template that I personally use to budget my money, for free.

Now is the time to start taking action. 

Click here now to download your Free Excel Budget Spreadsheet Template

My Excel Budget Template

My Excel template is easy to use and detailed at the same time. You just need to plug in your own numbers to make it start working for you. I will walk you through the template, step by step, and show you how to customize this budget for your own needs.

For some context, I have been where you are now and know exactly how you feel about the need to start budgeting.

Several years ago my finances were out of control. 

I had a lot of debt, a lot of bills, and a low income. I was getting late fees and constantly asking to borrow money from my family and friends. I was depressed and frustrated.

While I was languishing in self pity, I finally decided to reach out to my family to help me solve my financial situation, not just ask for money from them again.

My sweet mother decided to help and reminded me of the fact that I needed to create a budget to manage my finances. I needed to evaluate how much money I had coming in, how much money I owed for bills, and how much money I had left over. 

She had taught me this earlier in life, but I had ignored her advice. She strongly suggested that I create budget and stick to it. Otherwise, I could continue to flounder financially and drown on my own.

I got the message and agreed that what I had been doing up to the point was not working. I needed to change the way I managed my money. 

She agreed to share with me how she budgeted her money with Excel. I was hooked. I was amazed at how easy her spreadsheet was to use.  

I was grateful for her guidance and decided to craft my very first budget based on her Excel Template.  I added many new things based on my own financial research. I had finally caught the vision of what I wanted my financial future to be. I was simply done floundering financially.

Conclusion

You have finally found the right Excel monthly budget template that you have been searching for. Let’s work together to help you utilize this template to customize your own budget. Remember, the right budget template will help get you started on your path towards financial freedom.

This Excel Budget Template will help you accomplish 4 Major Financial Goals:

  1. Getting You out of Debt Faster
  2. Saving You Money and Helping you Keep It
  3. Investing your Saved Money Wisely
  4. You can Identify ways to Create More Money

     

Your Essential Excel Budget Template Guide

As promised, I will now provide you with your Essential step by step Guide to help you customize your Excel template. 

Let’s review the template together and discover how to customize it for your own budget needs.

 

Step #1: Gather Financial Data and Update Pay Period Dates

The first step is to gather together all of the financial numbers you are going to need. 

You will need to look at your paychecks to determine how much your checks are before taxes (gross amount) and after taxes (net amount). 

Then you will need to know what monthly bills you have and the value of any assets you may have like savings, investments, and retirement accounts.

Finally, you will need to update the pay period dates for each month.

Step #2: Enter Income Sources

 

In this step you will begin entering in your income. The first 2 rows with the blue background are the gross and net amounts of your income from your first job.

Under “Income Source,” enter the name of your first job.

Then under “Bi-Weekly Average,” enter how much your gross and net checks are every 2 weeks. Your Monthly and Yearly averages will then be auto-calculated.

You will then repeat this process for the yellow and orange rows for job two and job three, if you have them. 

If you have any business income, you can enter that on the following rows.

After you have entered all of this information, the gross and net totals will auto-calculate for you in the green rows.

Step #3: Enter Assets

The next step is to enter your assets. Assets are things that you have that hold value. Assets include savings, stocks, certificates of deposit, ira’s and more. After you have entered your asset amounts, the totals will auto calculate.

 

Step #4:Enter Liabilities

The final step is to enter your liabilities, or money that you owe to others. This includes loans, credit cards, bills, utilities, and more.

After you have entered your liabilities, the totals will auto-calculate. Your total net worth will update at the top of the budget as well.

Commit to using a Budget and Create Goals

 

Now that you have set up your Excel budget, you need to take the time to write down specific goals about your finances. 

How much income do you want? 

How are you going to pay down your debts? 

How much money do you want to save? 

How much money do you want to invest? 

How much money are you going to put towards retirement?

After you have your goals written, you need to make budgeting a habit and be consistent with sticking to your budget. You need to review your income and bills for each pay period to make sure you are not negative. Feel free to move around bills to different pay periods to help you make those payments on time. Make sure you are setting some money aside for your savings and putting some money towards your debts.

Finally, we ask that you share you goals with us in the comment section so we can support you and give you encouragement to budget.

Take Action Now!

– Brian

Leave a Reply

Your email address will not be published. Required fields are marked *

X