OK, so here it is! Our FREE monthly budget spreadsheet is here!
This spreadsheet was created just about 8 years ago. Well…maybe not this pretty version I created just for you guys, but almost an exact version with exactly the same figures and numbers. Man I wish I had this pretty of a spreadsheet to look at at the time!
Anyway, my husband and I started our spreadsheets with MS Excel after realizing we basically weren’t saving a dime after we committed to saving up for our first home. We had that “WTF” moment together. Both working, no kids, no astronomical crazy credit card debt. What was happening?! So, the first month we lived life exactly the same. I tracked every penny going in and coming out. No joke, after the first month we tracked our expenses, we sat down together and looked it over. We spent $400 on Dunkin’ Donuts coffee and breakfast for the month. Like, WHO EVEN DOES THAT?! Us apparently! It took that one moment for us to nix the stop in the morning just like that! We gained our $400 back the next month. Right into savings.
You guys… in 9 months, we paid off a $7,000 motorcycle loan and saved up $20k cash and closed on our first home! $12k was used for a down payment and because it was a foreclosure, we spent about $4k just getting into that home before closing. We had extra for moving in and fixing up a few things as well.
It took 1 month of being aware to completely flip our view of how our finances were playing out. For 8 years now, we have used this same budget spreadsheet to buy that house, fix it up, plan for our new baby, become a 1 income family, move cross state lines, and buy our first RV. It doesn’t take much to be aware. The quality of our life hasn’t changed by budgeting, in fact, it just keeps getting better! So, if we can do it, we know you can too! Download your free budget spreadsheet NOW!
What You Get With This Spreadsheet
This budget spreadsheet in MS Excel is everything you need to get started with your first month of budgeting. This spreadsheet shows you everything you need to know at a glance to see whether you are killing the budgeting game or need to step it up!
Some of the features of this spreadsheet include:
- Budgeting vs. actual dollar values to see how far from your target you were
- Money leftover from each monthly budgeted expense
- Record of dates each bill was paid or needs to be paid out
- Expense categories that can be broken down by purchase date and cost. These expense categories automatically total up.
- A budget plan for those yearly expenses to be “paid” into savings so you always have the cash readily available.
- Monthly snapshot including total income, total expenses and leftover money from the month.
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Monthly Budget Spreadsheet with 3 page detailed user guide! Be on your way to budgeting like a pro this month!
How To Use It:
Follow these simple steps and be on your merry way to budgeting and saving each month like never before! The biggest hurdle to starting out budgeting and getting your finances under control is being aware. Even if you change nothing about your spending the first month, being aware of where your money goes is super eye opening and life changing for most! Subscribe to grab your free download and follow these tips and hint below!
1. Enter Your Income
Under the Budget column, enter your budgeted income. There are 5 lines for weekly pay (including 5 week months) but feel free to only use 1 or 2 rows if you only get paid once or twice a month. Enter the dates that you anticipate getting each paycheck.
As you go through your month, enter the exact “actual” dollar amount of each paycheck. Your income will total next to the “Total For Month” column so you can see your total income as it comes in.
2. Enter Your Fixed Expenses
Under the fixed expenses column, enter each category of fixed expense for the month. This will include things like mortgage, rent, any utilities, loan payments, etc. Basically, anything you know will happen each month and generally not change. Set the budget amount under the budget column. Enter the date you paid each bill. If some payments are automatically deducted from you account, go ahead and write into those dates as well even if they haven’t been deducted. Remember, we want to be as aware as we can about any bills coming up and be prepared! Knowing is half the battle!
As you go through the month, enter the actual dollar amount of each bill that is paid. The leftover column will calculate if you were over or under budget for that particular expense. Use this leftover column to notice patterns each month- do you need to up your electric budget? Do you need to decrease a budget and allocate it somewhere else? As you enter in your budget and actual dollar values for the month, they will total at the bottom.
3. Enter Your Variable Expenses
Under the variable expenses column, enter in all categories you are budgeting for. Variable expenses are just that- any expense that is not set throughout the month.
For example, your variable expense can be groceries or food. Set the total budget for groceries at the beginning of the month under the budget column on the left. As you make your stops at the grocery store, add in each individual purchase under the associated table to the right (shown in the second picture below). Under the “actual” column next to groceries, each expense you add will automatically add up and populate.
The leftover column will show you how much more you have to spend for that category for the remainder of the month or if you are over budget. The total variable expenses for the month will also automatically calculate in this table as well.
4. Budget For Your Yearly Expenses By Month
THE HARDEST part about budgeting is expecting the unexpected. Plan for everything and budget it in per month. We tried for years to tell ourselves out of X paycheck during the year, we will use it to pay X yearly expense. IT.NEVER.WORKS.THAT.WAY! So plan for it!
Add up all your yearly expenses and divide by 12. If your yearly expenses are a total of $1,200, this breaks down to $100 per month. Allocate this money every month into savings and DON’T touch it under any circumstances. Unless it’s to pay your “yearly” bill. This includes paying car insurance in full every 6 months, or something like property tax every quarter.
The easiest way for us to do this is just to have a separate savings account and have part of your paycheck automatically deposit there. No need to touch it, transfer it, and no temptation to use it!
5. Take A Glance At Your Monthly Snapshot
Once you start adding in your budgeted income and expenses and your actual income and expenses for the month, take a glance at this monthly snapshot to see how you did.
A quick look will tell you what your budgeted income and expenses were and if you ended up over or under budget from your actual income and expenses for the month.
If the dollar amount highlighted in yellow next to “Leftover for the month” was positive for budget and actual….celebrate! Put this money into savings! You earned it…literally!
If this number is negative, take note of where you can improve from your fixed and variable expenses. Make a commitment to drink 1 or 2 days of less coffee or takeout next month. Call your provider and see if they can lower a bill, or find a different provider! You can make this change here..it’s more than possible! Like I said, being aware is half the battle and your already halfway there!