It’s also loosely based upon the Kakeibo budgeting method, an elegant technique from Japan. This spreadsheet incorporates the 50/30/20 budgeting rule (explained below). I designed our free monthly budget spreadsheet to be as simple as possible to use. Though a monthly budget is generally the most reasonable timeframe for which to set up an initial personal or household budget, there are many sources of income and expenses that do not perfectly follow a monthly schedule. Download our free monthly budget template for Google Sheets or Excel. You may even find that some months are different than others, but you should find through going through this exercise you are better prepared for those changes and even accounting for unanticipated personal expenses. As everyone’s financial situation is different, you may find that not every category is applicable to your income or spending. How to Use Your Free Personal Budget Templateīelow is a free excel monthly budget worksheet template for a personal budget that attempts to list possible sources of monthly income as well as expenses. An accurate budget will also help you to answer that ever elusive question, “Can I afford it?” Though the word budget has taken on a more negative connotation over the years invoking an image of pinching pennies or limited spending, a budget is really just a tool-and a great tool at that-to gain better and more accurate insight into your spending habits.īy listing all of your sources of income against all of your monthly expenditures (from required expenses like mortgage or rent payments to discretionary spending like eating out or going to the movies), you get a true picture of your personal cash flow, which will allow you to make better and more informed financial decisions. A personal or household budget is an itemized list of expected income and expenses that helps you to plan for how your money will be spent or saved as well as track your actual spending habits.