Simple And Detailed Monthly Budget Template [Free]. You’re looking for a budgeting template to help you take charge of your money. You’ve come to the correct place! We’ll show you how to use both the basic and comprehensive budgeting templates in this post.
Basic Budgeting Template – Comprehensive Budgeting Template
Making Budgets Using a Basic Budget Template
You can use our straightforward budget template to track your monthly income and outgoing expenses by categorizing your expenses and income. You will discover an in the template.
- “Income Input” tab
- “Expense Input” tab
- “Budget Summary” tab
To begin, click the “Download” button to save our straightforward monthly budget template to your computer. Then, open the file in Microsoft Excel or Google Sheets. Here is the next step.
At the bottom of the spreadsheet, select the “Income Input” tab to get started. The complete list of income categories can be found here. This comprises a variety of revenue sources like your normal salary, investment income, bonuses, and more.
Both the “ESTIMATED” and “ACTUAL” columns must be completed. By completing these columns, the “DIFFERENCE” column will automatically be filled up and your total income will be displayed.
The “Expense Input” tab may be found towards the bottom of the sheet. Click on it next. This button can be found immediately to the right of “Income Input,” and selecting it should display a list of spending categories, such as bills, travel, entertainment, child-rearing costs, and more.
Fill out the “ESTIMATED” and “ACTUAL” sections after going through each category. Once more, the “DIFFERENCE” column will be filled in automatically.
After adding all of your expenses, select the tab “Budget Summary” to the right of the tab “Expense Input.”
The findings of your “Budget Summary” will be generated by your “Budget Worksheet” depending on the income and expenses that you include in the worksheet. In this section, you will see a breakdown of your expenditure broken down by category, as well as a comparison of your income to your costs, and more.
CLICK HERE TO DOWNLOAD A BASIC BUDGETING TEMPLATE
- Designed for budgeting beginners: Beginners who don’t know where to start with their budget can easily use this simple budget template because it’s easy to understand.
- Time is saved because the framework is already established for you, making this a useful tool for time management.
- Maintain an easy eye on your financial situation by: When you use an organized spreadsheet like this one, it is much simpler to monitor how well your budget is working for you.
- Insight into your finances: Despite the fact that this template is straightforward, it can assist you in gaining a high-level perspective on the areas in which you are spending money and the areas in which you might need to reduce expenditure.
- This Process requires manual intervention: Every month, all of your figures must be entered by hand.
- The amount of detail that is included in this template is quite limited, particularly in comparison to other templates or tracking tools for budgets.
- Fewer insights that may be put to use: Using the template, you can get an overview of your typical spending patterns. On the other hand, it does not provide you with recommendations and insights that can be put into action like the app does.
Budgeting Comprehensive Budget Template
The thorough budget template that we provide enables you to keep a more granular track on your spending. The processes involved in using the detailed budget template are identical to those involved in using the simple budget template; however, you will have a great deal more information to input.
Start off by selecting the “Download” button, and then opening the budget template in either Google Sheets or Microsoft Excel to get started.
To begin, select the “Income Inputs” tab, which can be found on the far left side of the bottom column of the spreadsheet. Complete the columns labelled “ESTIMATED” and “ACTUAL” with the amount of money you expect to receive from your paycheck, bonuses, and other sources.
When you have finished entering all of your sources of income, proceed to the bottom of the spreadsheet and select the “Expense Inputs” option. It ought to be located to the right of the tab labelled “Income Inputs.”
Now that you’ve added your income, it’s time to enter your expenditures, so make sure to fill out both the “ESTIMATED” and “ACTUAL” sections. You’ll notice that the categories of expenses are broken down into a lot more detail than before, which gives you the ability to be quite detailed about how you’re spending your money.
The column labelled “DIFFERENCE” will have its value determined on its own.
After you have entered all of your income and expenses, you will be able to access the “Budget Summary” tab by clicking on the “Expense Inputs” tab, which is located to the right of the “Budget Summary” tab.
Because of the information you provide regarding your income and expenses, the “Budget Summary” page will be updated automatically, allowing you to view an in-depth representation of your budget. This covers detailed categories of revenue and expenditure, tables and graphs, and more information.
CLICK HERE TO DOWNLOAD A COMPREHENSIVE BUDGETING TEMPLATE
- Extra depth in comparison to the basic budget template. The detailed budget template gives you the ability to further dissect your expenditures, allowing you to gain a deeper comprehension of your typical spending patterns.
- Management of sheets must be done manually. When you use the detailed budget template, you are required to manually enter all of the necessary information into the worksheet on a monthly basis.
- Doesn’t provide you recommendations. The Mint app can perform an analysis of your expenditures and provide you with individualised insights and suggestions.
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