Personal Budget Template in Excel

Personal Budget Template in Excel

Budget is nothing but deciding your expenditures well in advance to make you are aware of what is coming in your way; otherwise, it will lead you to cash crunch moments and will lead you to face difficult scenarios.

It does not matter whether you manage a company’s financials or manage your personal home’s expenditure; making the budget ready for your spending for the year or quarter or month is very important.

In this article, I will give you templates to work with your personal budget file template and financial budget template.

How to Create a Personal Budget Template in Excel?

To get started with creating a personal expenses budget, the excel sheet follows the below steps.

Budget is not all about your expenses; it is about your incomes too. You need to be perfectly aware of your income to plan your expenses.

Below are the steps for creating personal budget template in excel –

  1. First is not to list your expenses but to list your income sources. It could be from your salary, from house rent, from a loan on interest.


    Creating this list in the excel spreadsheet.

    Personal Budget Example 1

  2. To capture the total income, apply the SUM function in the C8 cell.


    Personal Budget Example 1-1

    Drag to all the remaining months.

    Personal Budget Example 1-2

  3. Now apply a formula to capture variance. Apply this to all the months.


    Personal Budget Example 1-3

  4. Now list all your expenditure.


    Personal Budget Example 1-4

  5. Apply the SUM formula for total expenditure in the cell C22.


    Budget Example 1-5

  6. Apply a formula for the Variance column for all the months.


    Budget Example 1-6

  7. Now, our result template is ready. We need to create a template for capturing daily expenditure details. Create a format as per the below image in a new sheet.


    Budget Example 1-7

  8. After entering headings, create a table by pressing Ctrl + T.


    Budget Example 1-8

    Budget Example 1-9

  9. Now, we have the expenditure template ready. In order to get a month, we need to put one formula, and the formula is TEXT.


    Budget Example 1-10

  10. Create a drop-down list in excel for Expenses Head from Result Sheet. I am creating a drop-down list of all the expenses list from the result sheet.


    Budget Example 1-11

  11. By applying the SUMIFS function in excelSUMIFS Function In ExcelThe SUMIF Function is a conditional sum function that calculates the sum of given numbers based on a condition. It only uses one condition, and the syntax for using this function is =SUMIF (Range, Criteria, Sum range).read more, we need to link the total expenses to result in a sheet.


    Budget Example 1-12

    Apply the formula for all the months.

  12. Now, manually enter your income & expenditure numbers for all the months under the Budget column.


    Budget Example 1-13

  13. Enter your monthly income in the actual column according to the monthly earnings. If your income is as per the budget, a variance will be zero.


    Budget Example 1-14

  14. Now, start entering your daily expenditure on the expenditure list according to the headings formula will show the results in the result sheet.


    Budget Example 1-15

    It is the Final results of income and expenditure.

    Budget Example 1-16

    For the demo, I have entered a few numbers.

    Download the attachment and start entering your numbers.

Download Personal Budget Excel Template

  • Now we have learned the personal budget creation techniques. Similarly, we can create a simple corporate budget file.
  • I have already created a template and download both personal and financial budget templates using the below link.

You can Download this Personal Budget Excel template here – Budget Excel Template

Things to Remember

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This has been a guide to Personal Budget Template in Excel. Here we discuss how to Create a Personal Budget Template in Excel along with practical examples and a downloadable template. You may learn more about excel from the following articles –

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