Take control of your finances with the Personal Monthly Budget Excel Template – Free Download, a user-friendly tool designed to help you plan, track, and compare your monthly income and expenses with ease. Perfect for individuals or households aiming to stay on top of their spending, this template offers a structured approach to budgeting.
Key Features:
- Features separate tables for income (e.g., £2,000 wages) and expense categories like Home Expenses (£1,345 budgeted, £1,486 actual), Transportation, Health, and Savings, with a net calculation (£655 budgeted, £514 actual).
- Includes a Budget Summary that totals income and expenses, showing a £141 deficit when actual spending exceeds projections.
- Uses conditional formatting to highlight negative differences (e.g., -£150 for internet overages) in red for quick identification.
- Allows customizable sub-categories within major sections, with automatic updates to totals and ratios.
Use Cases:
- Ideal for young professionals managing their first budget or tracking wages and rent (£1,100).
- Great for families monitoring home expenses (e.g., electricity £43 budgeted, £52 actual) and planning savings.
- Perfect for freelancers comparing projected income to actual earnings over time.
How It Works:
Begin by updating the budget categories in Step 1, adding or removing sub-categories as needed (e.g., adding “Streaming Services” under Subscriptions), and adjusting formulas if you remove a major category. In Step 2, enter your budgeted amounts (e.g., £1,100 for mortgage) across each table. Then, in Step 3, input actual amounts throughout the month or at month-end (e.g., £1,486 for home expenses) to see the difference. The Budget Summary will calculate your net position, while the Difference column flags overspending. Review and adjust accordingly, then download this free template to start budgeting smarter today!
