Budgeting: 10 Excel Templates You Can Use

Budgeting: 10 Excel Templates You Can Use

If you have not lived on a budget or have not experienced the wonderful benefits budgeting has to offer..

Then it would be hard to see why it is considered a crucial aspect of personal finance. In essence, budgeting can help you track your expenses, control your spending, and save more money. Budgeting can also help you prepare for emergencies, get out of debt, make better financial decisions, and stay focused on your long-term financial goals.

Since budgeting is an integral component of proper financial management, many people use beneficial tools like a personal budget template to help them stay on track.

The Enticing Benefits of Budgeting

Budgeting can help you effectively control your spending. Even if you already have some kind of idea how much money you are spending each month, without accurate numbers, you can quickly lose track of where your money is going. In other words, budgeting is essential if you want to keep a close eye on how you are spending daily. From there, you can understand the enormous impact of seemingly small expenses (that add up) and how you can manage your spending accordingly.

Budgeting can help you attain financial contentment. One of the foundational elements of good financial behavior is financial contentment. It not only helps you enjoy your financial journey, it also helps ensure you don't spend money that you don't have. While unfortunate to note, many don't find financial contentment when they focus on the finances of others. This is what many people often refer to as "keeping up with the Joneses" and it's a financially dangerous way to live. Each time you sit down to create, refine, assess, and log your expenses in your personal budget template, you are making a conscious effort to focus on your finances instead of the finances of others.

Budgeting can help ensure you don't feel financially overwhelmed. Feeling financially overwhelmed is a feeling not many people would like to experience. The good news is following a budget is one of the best and most effective ways to combat financial overwhelm. After all, when you adhere to the budget you have set and not spend beyond your means, you are always prepared for any unexpected expenses that come your way.

Budgeting can help you avoid debt or get out of it. If you want to be financially free, you need to stop spending money on things you can't afford just yet. When you get in debt to purchase something you don't need, a massive part of your monthly income might go to paying your debts back. Fortunately, when you are following a budget, you can easily avoid accumulating debt. You can also just as easily save and pay cash for massive purchases without getting into debt in the first place.

Budgeting can help you stay organized. The longer you live without a budget, the easier it is for your financial life to get messy. Between debt payments, monthly bills, and other monthly expenses, many things can get through the cracks if you are not careful. Before you know it, you are already stressed and struggling to get by, not knowing how to make things work. It is crucial to keep in mind that it is a lot easier to spend within your budget than to get things back on track once your finances have gotten messy.

Budgeting can help you prepare for emergencies. Let's face it, emergency expenses can come up when you least expect them. From unexpected home repairs to hospital bills, you can get very stressed if you are not prepared. On the other hand, if you save for emergency expenses, you'd have money to pay for those unforeseen expenses. Ideally, it is recommended that you save at least 3 to 6 months worth of living expenses. With that said, you have to be intentional with your money and handle your finances meticulously. Creating a budget would be an excellent place to start.

Budgeting can help you save money. Hands down, this is one of the obvious benefits of budgeting. Given that you follow your budget strictly, saving money can become easy and straightforward. This is especially important if you don't have a natural tendency to save money. When you live on a budget, you will be able to eliminate waste, and you will start to become accountable for all the financial decisions you are making. A budget can also help ensure you don’t end up squandering your money.

Budgeting can help you get ahead. When it comes to achieving financial independence, creating and adhering to your budget is vital. So if you want to live debt-free, escape the paycheck-to-paycheck lifestyle, and have a solid financial cushion, budgeting should rank high in your list. Now that you know the importance of creating and following a budget, check out these fantastic Excel templates you can use to make managing your budget a lot easier.

Ten Excel Templates You Can Use to Manage Your Budget

If you need help sticking to a monthly budget, an Excel template can be your most powerful ally. Regardless if you want to create monthly budget projections or you want to track your monthly spending, you'd be delighted to know there are several budget-related Excel templates you can use. Below are 10 of the most powerful Excel templates you can use to make your budgeting seamless and straightforward.

You can download these templates here.

1. Family budget planner

A family budget planner is a straightforward tool that can track your daily, monthly, quarterly, and even yearly budget. A family budget planner has three primary parts: income, monthly spending, and savings goals. The family budget planner can be used to create smart financial decisions and achieve your savings goals.

2. Personal monthly budget worksheet

For those who need help managing their personal monthly budget, the personal monthly budget worksheet can come in handy. This beneficial worksheet allows users to compare their budget and spending. It also has a discretionary spending field to make keeping track of expenses a lot easier.

3. Savings goal tracker

With a savings goal tracker, you can effectively (and quickly) fight the temptation of spending money on things that are not necessities. This Excel template can also help you save and watch the savings grow before your eyes. Once your savings starts to grow, achieving other savings milestones becomes second nature to you.

4. Business expense report

If you are running a business and traveling is an integral part of your routine, you'll indeed find this powerful tool very handy. With the business expense report worksheet, you are spared from all the stress and hassles of tracking spending while you are traveling. This fantastic financial tool can also help you create a detailed accounting of all your travel expenses.

5. Personal money tracker

If you are tired of figuring out where your money went, you are not alone! Fortunately, the personal money tracker can come in very handy. The tool has a clean and organized design and can be used to track your spending accurately even while on the go.

6. Balance sheet

Considered by many as an essential part of the budgetary process, a balance sheet can help keep things organized. A balance sheet can also be used to itemize assets and liabilities, analyze values, and identify depreciation schedules.

7. Project budget template

If you want to simplify the tedious task of budgeting for a project, this template is exactly what you need. The project budget template allows users to track different aspects of a particular project, so progress and expenses can be monitored with the utmost ease.

8. Simple invoice

For those that are running and managing a small business, this is one template they should never be without. The tool comes with a simple invoice, so totals and subtotals can be calculated easily. For those who want things to look legit and professional, the template can be easily modified to place the business information and logo.

9. Cash flow projection template

Regardless of business size, managing cash flow is essential. With a cash flow projection template, users can easily track cash flow, so it's easy to gauge if the current spending is still in line with the revenue. The cash flow projection template can also be used to help users assess if they have met their financial targets and obligations for a specific period.

10. Travel budget worksheet

If traveling is a regular part of your life, then you probably already know just how essential it is to create and set a budget before going on a trip. Thankfully, this powerful worksheet is straightforward to use. The template automatically subtracts any expenses that have been projected from the total budget that's set so users will have a crystal clear idea of how much they have left to work with.


The importance of strictly following a budget cannot be overstated. Fortunately, there is no shortage of powerful templates you can use to achieve your financial objectives. Given that you can use these beneficial financial tools accordingly, attaining your financial goals should be a walk in the park.

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Millennial Moderator Author

Anthony Steven

Anthony Steven is a guest writer for Millennial Moderator