If you've just entered the real world as a newly independent adult, or you've been spending more than you can afford, it's time to figure out a budget. To get started, you can use my free personal budget spreadsheet template in Excel to track your income and expenses using a common set of budget categories. You can easily change the categories as needed.

If this is your first time trying to create a personal budget, you may want to read the article "How to Make a Budget." It explains how to use a spreadsheet like this to track your expenses, and then how to turn that information into a real budget.

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The personal budget spreadsheet below is one of my original budget templates, but if you are looking for a more advanced application or a way to both create and manage your budget, take a look at the yearly Budget Calculator and the all-in-one Money Management Template.

categories: Budgets

Personal Budget Spreadsheet

for Excel, OpenOffice, and Google Sheets
Personal Budget Spreadsheet
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For: Excel 2003 or later
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For: OpenOffice Calc

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License: Personal Use
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(not for distribution or resale)

Description

Like my family budget planner, this personal budget spreadsheet can be used to create a yearly budget. By planning many months ahead, you can account for variable expenses and estimate how major life changes like moving, changing jobs, or purchasing a home may affect your financial future.


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NEW Personal Budget Template

for Excel 2007, 2010, 2013, Excel Web App, and Excel for iPad
Personal Budget Spreadsheet Template for Excel 2007+
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For: Excel 2007 or later & Excel for iPad

Other Versions

Template Details

License: Private Use
View Agreement
(not for distribution or resale)

"No installation, no macros - just a simple spreadsheet" - by

Description

Updated 4/4/2014

This new version is mostly just an upgrade to XLSX. It contains a new Help worksheet and is designed to work in the Excel Web App and Excel for iPad.

More Budget Spreadsheets

  • Monthly Budget - The monthly version of the above spreadsheet.
  • Household Budget Worksheet (monthly) - More detailed and includes child expenses.
  • Family Budget Planner A yearly budget planner, with the same categories as the household budget spreadsheet.
  • Home Budget Worksheet - This worksheet provides an alternate way of grouping the budget categories, but works very similar to the template(s) on this page.

Why Use Excel for your Personal Budget?

First off, if you are reading this, you should congratulate yourself! The fact that you are concerned about creating a personal budget is the first step to your financial freedom (whatever that means...it sounds good, though)

The reason I use Excel when working with my home budget is that I have complete flexibility in how I keep track of the information. For example, I like to use cell comments to explain certain budgeted items in more detail (such as the fact that in May, there is Mother's Day and a couple of birthdays to remember).

Creating a simple personal budget (even if it is only on paper) is one of the first steps in gaining control of your spending habits. BUT, I strongly recommend using Quicken to keep track of your expenses. A budget isn't much good if you don't track what you are spending your money on.

I started out using Excel to do everything, but converted to Quicken after a friend showed me how easy it was to keep track of checks, credit card charges, etc. I still end up exporting reports from Quicken into Excel, though.

By the way, since you may be looking for a personal budget spreadsheet, you may want to consider reading a book on personal finance. The one that got me started was "Personal Finance for Dummies".

Related Links:

YouNeedABudget.com - Try YNAB Pro when you need something more efficient than a basic budget spreadsheet.

Personal Budget Commentary

  • 7/2/2013: A Personal Budget Is the Key to Financial Success - If you're tired of living paycheck to paycheck, need to improve your credit score, or need to establish savings to reach future goals – you need a personal budget. It is the key ingredient to successfully managing your finances.
  • 5/22/2013: Do a "Spending Fast" - If you are having trouble creating a personal budget where your income is enough to support all of your expenses, consider a spending fast. This is when you don't spend any money beyond your bills for a set period of time.
  • 4/22/2013: Even Lazy People Can Budget - One of the reasons people avoid budgeting is because it seems like it takes a lot of effort and time. There are several tricks to reduce the time it takes to create and follow a budget – which makes it possible even for lazy people to follow a budget and get their finances on track!
Disclaimer: The spreadsheet and the information on this page is for illustrative and educational purposes only. We do not guarantee the results or the applicability to your unique financial situation. You should seek the advice of qualified professionals regarding financial decisions.

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