Personal Monthly Budget Template
A personal budget is a financial plan that divides future income into expenses, savings, and debt payments. Before making a personal budget, you just need to consider your past expenditures and personal debt. A personal budget can be created, used, and adjusted using a variety of ways and methods. In this article, you offer a monthly personal budget template that helps to keep you on track with your monthly expenses and income.
Making a personal budget can assist you in finding the correct balance between expenses and savings. It may let you manage your finances and allow you to see a clearer route to your savings objectives and be more prepared for future unexpected events.
Free Personal Monthly Budget Template
Download Size: 35 KB
Personal Monthly Budget TemplateTrack your monthly expenses with the help of this wonderful template for a personal monthly budget plan. This template comes in great design and structure in MS Excel format. Using this one, you can easily manage your monthly budget and keep track of housing, entertainment, food, and transport expenses. You just must enter your exact amount values in the recommended cells, then the outcome will be provided to you automatically in the summary section as well as in the chart given in the place. Further, you can customize this template as per your wish. However, download it for free by clicking on the button given in this sample image.
Major Elements of Personal Budget Plan
There are two major elements that you need to include in your monthly budget plan. For example, income and expenses.
- Income: The term "income" refers to money that you are getting or receiving. This could contain your salary from a full-time or part-time job, from investment, from your pension, government benefits, child support payments, and any source of earnings. Make an estimate based on your previous year's profits if your income is changeable.
- Expenses: This term includes daily life expenditures such as household, transport, and entertainment which are commonplace. On the other hand, large expenses also include vehicle registration, rent or mortgage, and utilities. Look through old bills or bank statements to see how much money you spend on these items each year. If you're unsure, make the best assumption you can.