If you have read the Financial Freedom page you will surely know that I firmly believe in the importance of budgeting in order to achieve our financial goals. Today I want to share with you my own Monthly Budget Excel spreadsheet.
In my opinion saving more is the first step to achieve Financial Freedom. The easiest way to save more is to track all our income and expenses. Just doing so we can clearly understand where our money goes.
There are dozens of applications created for this purpose, but I prefer to do it on my PC on an Excel file. That’s why few months ago I decided to create my own Excel spreadsheet to track my income and expenses.
If you prefer this method like me, you’re in the right place!
The Monthly Budget spreadsheet
I created this file for those who are starting to budget.
My spreadsheet has 2 sheets: one for the rules and recommendations and one for the actual Monthly Budget.
This is the first sheet, on which you can learn how to properly use the spreadsheet. Before using it, be sure you have carefully read this sheet.
Then there is the Monthly Budget sheet:
As you can see it is divided into 2 sections: Income and Expenses. Fill them out carefully. At the bottom of every section you can see a pie chart which sums up the subdivision of the section. Once the section is correctly filled out you can check in the chart the percentage of every sub-category of the section.
As I wrote in the Instructions, there are 2 ways to use this spreadsheet:
- Use a different Monthly Budget for every month. Result: at the end of the year you will have 12 different Excel files
- Every beginning of the month, create a copy of the “Monthly Budget” sheet and use it. Result: at the end of the year you will have just 1 Excel file (I explain in the Instructions how to create a copy)
I’m currently adopting the second option, but you can choose the option you like more.
Now it’s time to show you the protagonists of this post:
It’s completely free, and you can download it as many times as you like. It’s here for you! Moreover, feel free to share it with whomever you want 🙂
This is just a basic Monthly Budget spreadsheet, but as I say in the Financial Freedom page the only important thing is start budgeting as soon as possible. In any case, it’s suitable for almost everyone, so start using it!
In the next weeks/months I will add the Italian version of this spreadsheet (for my italian readers) and some more complicated sheets (Annual Budget, Month-by-Month Budget..).
I hope this sheet can change your life as it has changed mine! If you have some advice on how to improve it or questions about it, write a comment and I’ll read it with much pleasure!
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