Most people don’t like creating a budget, but creating a budget is one of the most important things you can do to achieve your financial goals. Regardless of your income level, creating a personal budget is the first step you’ll want to take in order to get in a healthy financial position each month.

Creating a budget not only helps you plan your spending, it also helps you gain insight into your spending habits, making it easy to curb overspending.

This article will introduce a free monthly budget template for Excel that compares your monthly income with your monthly expenses and helps you visualize how they change. Using this easy-to-use monthly budget template can help you manage your personal finances.

Simple monthly budget

This Simple monthly budget is officially provided by Microsoft Excel and you can create the template directly in the Excel application or download it from the official website.

You can use this simple monthly budget template to track your monthly income and expenses.

This template contains 3 sheets：summary, Monthly income, Monthly expenses.

Where,

• summary: This sheet contains graphs and charts of percentages of income and expenses, total income, total expenses, and a comparison of income and expenses.
• Monthly income: This sheet contains the amounts of the different income items for each month.
• Monthly expenses: This sheet contains the amounts of the different expense items for each month such as Rent, Electric, Gas, Cell phone, Auto expenses, and etc.

Let’s look at how to use this monthly budget template：

Step1: Open Microsoft Excel Spreadsheet, click on the File menu, and then click on the New submenu

Step2: In the New dialog box, find the template search box, type in the keyword “Simple monthly budget” and press Enter, you will see the Simple monthly budget template.

Step3: Click the Create button to download the selected Simple monthly budget template to create a new Simple monthly budget spreadsheet.

Step4: You need to enter monthly income items and amounts in the Monthly income worksheet.

Step5: You need to enter each expense in the column B and enter the amount for each expense item in the Monthly expenses worksheet.

Step5: Once you have entered the corresponding income and expense data in the Monthly Income and Monthly Expenses tables, you can go back to the Summary worksheet and you can see that the total monthly income and expense data will be calculated automatically.

Step6: You can also see it in the summary table, which compares monthly income and expenses with a bar chart.

Note: A chart illustrating a comparison of the Total Monthly Income from Summary table column B6 and the Total Monthly Expenses from Summary table column C6.

If you have any other personalized custom budget template needs, you can send us a message.

If you are looking for monthly budget template, check out Microsoft office site by clicking here.