Personal Budget Template In Excel Example Download How To Create

Personal Budget Template in Excel

A budget is nothing but deciding your expenditures in advance to make you aware of what is coming your way. Otherwise, it will lead you to cash crunch moments and will show you to face difficult scenarios.

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

This article will give you templates to work with your budget file template and financial budget template.

How to Create a Personal Budget Template in Excel?

The Excel sheet follows the steps below to create a personal expenses budget.

Budget is not all about your expenses. It is about your income too. Therefore, you need to be perfectly aware of your income to plan your costs.

Download Personal Budget Excel Template

Now, we have learned the personal budget creation techniques. Similarly, we can create a simple corporate budget file.We have already made a template and downloaded personal and financial budget templates using the link below.

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

First, we must not list the expenses but list the income sources. For example, it could be from salary, house rent, or a loan on interest. Creating this list in the Excel spreadsheet. We must apply the SUM function in the C8 cell to capture the total income. Drag to all the remaining months. Now, apply a formula to capture variance. Apply this to all the months. Now, list all the expenditures. Apply the SUM formula for total expenditure in cell C22. Apply a formula for the “Variance” column for all the months. Now, our 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. After inserting headings, create a table by pressing the shortcut keys “Ctrl + T.” Now, we have the expenditure template ready. To get a month, we need to put one formula: the TEXT formula. Create a dropdown list in Excel for “Expenses Head” from the result sheet. We are creating a dropdown list of expenses from the result sheet. Applying the SUMIFS function in Excel, we need to link the total expenses to a sheet. Apply the formula for all the months. Now, manually insert the income-expenditure numbers for all the months under the “Budget” column. Enter the monthly income in the “Actual” column according to the monthly earnings. If the income is per the budget, a variance will be zero. Now, enter the daily expenditure on the “Expenditure” list according to the headings formula, which will show the results in the result sheet. It is the final result of income and expenditure.For the demo, we have entered a few numbers.Download the attachment and start entering your numbers.

Creating this list in the Excel spreadsheet.

Drag to all the remaining months.

Apply the formula for all the months.

It is the final result of income and expenditure.For the demo, we have entered a few numbers.Download the attachment and start entering your numbers.

Things to Remember

We must always use table format for capturing data from another sheet to the main sheet. Excel tablesExcel TablesIn excel, tables are a range with data in rows and columns, and they expand when new data is inserted in the range in any new row or column in the table. To use a table, click on the table and select the data range.read more do not require auto-updating of numbers when the data increases.We must know Excel’s SUMIF, SUMIFS, and SUM formula in excelSUM Formula In ExcelThe SUM function in excel adds the numerical values in a range of cells. Being categorized under the Math and Trigonometry function, it is entered by typing “=SUM” followed by the values to be summed. The values supplied to the function can be numbers, cell references or ranges.read more to link the entry sheet data to the main sheet.A financial template needs regular updating costs every month.According to the requirement, we can alter the template. Similarly, update the formula cells.