FREE Microsoft Excel Budget Template Spreadsheet (Super Easy to Use)


in this video I’m going to show you
where you can go to download a budgeting template that I made in Microsoft Excel
that you can use for yourself and best of all the budgeting template
is completely free Free .99! what’s up guys how’s your day
going it’s Mike also known as MK the CPA and here’s my sidekick chipper new
welcome to money and life TV guys as you know the focus and mission of this channel
is to help you improve your financial position career and your life in this
video I really thought it would be helpful if I just give you guys a
template that I use for myself and I created this myself to help me manage my
finances I don’t know if you guys know this but budgeting is truly one of the
key ways to build wealth for you and your family it’s one of the pillars
major pillars to financial success in your life it’s gonna help you save more
money budgeting will help you pay off your debt and budgeting will also help
you prepare you for retirement now I know guys that budgeting is not the
sexiest thing in the world you know it’s not thing you like to talk about with
your friends it’s not the thing it’s kind of boring right he’s the thing you
don’t want to do but I’m highly encouraging you to set up a budget
especially if you do not have one so let’s go ahead and dive right into the
worksheet and I’ll explain how you can use this if you so choose to help you
manage your finances better okay guys the only thing you really need
in order to use the spreadsheet is to have Microsoft Excel I actually have
Microsoft Excel 2007 I know I’m old school but that’s all you need you just
need Microsoft Excel in order to use this most people are familiar with
Microsoft Excel if you don’t have it it’s very expensive to get so I highly
recommend getting this program if you do not have it there’s a lots of tutorials
online of how to use it and the stuff we’re gonna show in this worksheet it’s
very basic so that most people could use this without very little help or if you
don’t know how to use Microsoft Excel maybe have somebody show you the basics
because it’s truly not that hard guys we’re not gonna do anything fancy here
the spreadsheet is all set up for you so all you have to do is drop in your
income numbers and your expense numbers and let the spreadsheet do the rest of
the work for you so what I did is I created a spreadsheet it starts with
income first then it’s gonna go down the list of expenses like we have our car
expenses right here we have charity and gifts these kind of expenses anniversary
birthday charitable giving Christmas gifts then we’re gonna have you know
down here we have education entertainment fun and hobbies a date
night gym memberships sports we have a section for debt so if you have debt
payments if you have a car loan credit card payments mortgage payments medical
loans it’s right in this section right here food and household products so this
is things like what do you spend the month eating out how much do you buying
groceries every month then down here we have home rent and living in utility
expenses so these are expenses for living right so your electricity your
gas your water sewer garbage landscaping such as a gardener if you have HVAC
service once a year that’s gonna have to be added on your budget and things like
that so rent when you know what do you pay monthly and rent beyond the home so
we just have a mortgage but it this spreadsheet guys you can customize it to
your situation which is why I like using a spreadsheet you can manipulate it any
way you want which is why M my opinion it is still a very useful and
helpful tool down here on the next page we have
medical expenses so maybe you have monthly prescriptions you have to buy
vitamins you know maybe you have to see the doctors in dentist etc then down
here we have cellphone or your internet your if you have subscriptions such as
like to Spotify you like music streaming services Pandora that kind of thing Web
Services television services like Netflix Hulu and that kind of thing
think of think of those kinds of TV services – down here we even have an
investment section so how much do you contribute to your IRA your Roth IRA or
a brokerage account or some other investment vehicle that you’re
considering so what the spreadsheet does is it starts with our income so you’re
gonna put in your net monthly income so it’s the net amount you actually get
after taxes and after 401k deductions or anything that’s pre-tax
out of your check so when your money hits the bank from your paycheck the
foul let’s say you’ve got a thousand dollars every two weeks which would be
two thousand a month you’re gonna put two thousand dollars a month right here
because that’s the net amount now in this example I had a husband and wife
both making twenty five hundred dollars a month so five thousand dollars in
total so let me just walk you through this example and then you’re gonna enter
all of your expense information and down here this is how the spreadsheet works
it takes your total income which is the total net monthly income which we had a
top which was five thousand which the five thousand comes from right here so
whatever this adds up to be on your income section of your budget and then
it says total expenses okay so these expenses as you go through your
spreadsheet you’re gonna enter to the best of your knowledge your average
monthly expense for each of these categories every single category whether
it’s your cell phone whether it’s something that you don’t even purchase
every month so maybe like DMV let’s go to the car section so one expense that I
didn’t have on my budget for a while as DMV fee renewal well every year I have
to renew my vehicle now sure the expense only occurs once a year however I like
to account for that expense on my budget on a monthly basis so what I do is if my
DMV renewal is $150 a year I take that number and I divide it by 12 and then I
so on my budget I would put $12.50 per month on my budget so that way I’m
always considering that expense even though it has not occurred yet that way
my budget is accurate and as complete as possible what many people do is they
don’t budget for certain things and then they don’t have the money when it when
those expenses arrive and so they have to take out debt order to pay those
bills not enough gold but nah not with this I’ve tried to think as much as
possible think through what expenses you and I have or we have on a daily basis
on a monthly basis that impacts our finances so you’re gonna go through here
you’re gonna enter all of your automobile expenses or transportation
expenses is in this first section you’re gonna enter all these things for
Christmas gifts you’re gonna budget for birthday gifts all that kind of stuff
all these things and you’re gonna drop in these expenses and what it does is it
totals up each expense section right here so like in this foreign living this
is just an example so in this box right here guys on the car expenses see how
this at this first column adds up there’s 500 bucks for just
transportation an automobile so what these columns are for is to give you a
perspective of how much that expense is of your total monthly net income and how
much this expenses of your total monthly expenses so let me show you what I mean
so so we have this person has $500 in car expenses right so four 9950 divided
by 5,000 is point zero nine and nine so that’s where this number number is
coming from right here it’s this expense is nine point nine nine percent of this
person’s net income total net income of five out this column looks at what
percent of total monthly expenses does this auto expense count for so we take
9950 and we’re gonna divide it by our total monthly expenses which adds up
down here you won’t that what that is until if it gets to
the very bottom here so this is our total monthly expenses of all of our
expenses here and so we take our automobile divided by four from 750 and
that’s how we get the twelve point two five percent which is basically what
that is so that’s how we get to these expense totals so we’re analyzing it
that expense based on the total of your monthly net income and also based on
your total monthly expenses so you can see which items are large and very
impactful items in your finances what’s causing you to spin the most money so
guys this is how this worksheet works what you’re gonna do is you’re gonna
start up here enter your net monthly income and then just go down the line
look at each one of these categories and figure out what you’re spending monthly
on average in each of these categories and to your best of ability drop in the
number now if you watch my video of how to create an accurate budget this will
help you get better numbers for this budget spreadsheet give yourself some
time to do this really think through the numbers of what you spend on average
every single month in these categories and this will truly help you arrive at a
very accurate budget in this example it’s showing that 82 percent so this
person’s expenses is 82 percent of their net income now we take four thousand one
twenty four fifty our total expenses we know our net income in this example is
five thousand dollars and there we go there’s the 82 percent which is showing
right there and this is a hundred percent because this is a one hundred
percent of the expenses on the worksheet because as you guys know or might know I
also I also have videos on saving money and I always like to talk about how my
wife and I save over fifty percent of our net monthly income
well this spreadsheet helps me gauge where I’m at in that process of how much
of my net income can we save every single month and so I think you’ll guys
will find this as a useful tool for yourself and your goal will be to
increase the amount of money you get to keep at the end of every month for
yourself so you can invest it so you can use it to whatever purpose you need to
like whether it’s pay down your debt or save more money or whatever you’re
hoping to achieve at the end of the month this person can save
875 dollars so in this example this person is able to save seventeen and a
half percent of their net monthly income every single month and that way that’s
calculated is it’s 875 fifty divided by five thousand dollars net income is
seventeen and a half percent so that’s how we’re arriving at that at the very
bottom of this worksheet it breaks it down by category so you can get a visual
effect of where your money’s going guys feel free to use this let me know if you
have questions if you have suggestions to improve this or what would be more
helpful let me know I’m happy to alter this to make it more accommodating feel
free to adjust the worksheet you can use this please share this information with
others you can download this on money in life tv.com
I will leave a link in the description section down below directly to the
website where you can go to download this for yourself and please feel free
to share this budgeting template with others so if you go to money in life
tv.com this is where you can find this worksheet and if you just click download
right here you just click this picture this is how you can get the file and
just click yes and then the file will open down here and then you will have
the spreadsheet if you guys liked the video make sure to drop a like before
you leave let me know if you found this information helpful and if you find the
spreadsheet helpful so far I’ve given this to a few of my friends and they’ve
use it in the real world I said be my guinea pigs let me know if you find that
if this works and they’re very pleased with it so I’m very happy to hear the
time I spent making this has not been in vain people are you starting to use this
and they’re starting to enjoy working with it and it gives them a very clear
picture of what their finances are on a month-to-month basis if you’re new to
our channel please consider subscribing especially if you guys want to learn
more about personal finances more about taxes more about investing we make new
videos every single Sunday our guys I love you thank you so much for your
support I hope you have a fantastic week and remember guys on this channel
chipper and I share information that will help you live your life on gauged
love you guys see you next week

Paul Whisler

12 Comments

  1. The tutorial starts at 1:30

    Hi guys thanks so much for watching. Let me know if you have any trouble downloading the spreadsheet from the website. Love you guys thanks for your support as always 🙂 Don't forget to check out some of other videos on budgeting. I'll leaving the here:

    How to setup an accurate budget: https://youtu.be/eet3H2zl54Q
    5 Major reasons to start a budget: https://youtu.be/Yrr497Vr-m8
    What age to start a budget: https://youtu.be/_rtMlPkT-Lc

  2. I started budgeting when I was 17 years old I'm 54 years old now. I have kept a budget religiously every month since then. Back when I started we didn't have computers so I just wrote it out on paper. When computers came around I started using Excel spreadsheets. I have my own version of a budget that keeps a running total every week. So I have columns for what I spend each week and then the balance left in each category each week and then the total spent at the end of the month. I also have a business so I keep a separate business spreadsheet but it's all actually on one page. I like the categories and colors that you have on your budget . Mine is sort of boring. I also separate out savings and contributions to investments in a separate category not included in expenses.

  3. I'm using your spreadsheet and I do not like the fact that you have protected cells not sure how to turn the protected cells off so that I can make some changes. One of the changes that I would like to make is to put some additional rows in for retirement and investing. I'd also like to change the width of some of the columns it will only let me change the width of the first column. Maybe you could do a version that doesn't have these protected columns. Or tell me how to turn the protection off cuz I tried to find a way to do it and I can't find it.

  4. I do not like that your spreadsheet doesn't allow me to make my own categories for instance there's no category for pets or miscellaneous items like an accountant or other miscellaneous items that you haven't thought of.

  5. I really like the spreadsheet and it has inspired me to use your worksheet layout to redo my spreadsheet. The main thing that is missing for me is the ability to keep track of what you are spending on a weekly (or more or less often) basis and keeping a running balance. This I have found is vital for staying on track through out the month.

  6. Thank you for the free spreadsheet. It's definitely the best one I have tried…. I won't tell you how many I tried before yours but, most of them were just so clunky or just not customization AT ALL… Your spreadsheet is easy to use and easy to customize and I love seeing the percentages THANK YOU!

  7. If you add another account to a specific area, does the addition come with the computation for that area?

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