Free Monthly Home Budget Template

One can better define a monthly household budget template as a spreadsheet or a document that outlines details about the monthly household income and expenses of the individual for a particular period.

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Other Versions

  • Excel 2003 (.xls) OpenOffice (.ods)CSV (.csv)Portable Doc. Format (.pdf)

The monthly household budget spreadsheet generally includes all the transactions that the person and his family members expect to do during the particular month under consideration, like income earnedIncome EarnedEarned income is any amount earned by an individual, such as a salary, wages, or employee compensation. It can also be an individual’s income through their own business.read more by all the family members during the month. The allocation of those funds under various categories like general household expenses, transportation expenses, utility expenses Utility ExpensesUtilities Expenses are the prices incurred by a Company for the usage of utilities like sewage, electricity, waste disposal, water, broadband, heating, & telephone. These are included as operating expenses in the Company’s income sheet. read more, insurance expenses, obligations, savings, etc.

The sample template of the monthly household budget in Excel, which the person can use for tracking day to day requirements of all the family members during a month, is as follows:

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About the Monthly Household Budget Template

  • Everyone serious about their own and their family’s financial future prepares the monthly household budget well in advance at the beginning of the month so that they can have an idea about their sources of income during the month and the areas where they can allocate the income.With the help of the monthly household budget, they can get an idea about their actual expenditure and income at the end of the month, along with the variance between the budgeted expenditures and income.Thus, the monthly home budget templateHome Budget TemplateA home budget template shows the user how to manage family finances and how to properly allocate or plan spending over a period of time, which is usually a month or a year. It is one of the best-organized ways to manage household finances.read more reflects the simple day-to-day requirements of all the family members and helps track the budget as and when required.It comprises all the details related to the income and expenses of the person for a month under consideration. In addition, the budget template of a person also provides their necessary information like name, month to which the budget belongs, family members, etc. These details are filled in so that the person in the future can differentiate the budget prepared from the past and future period’s budgets.

Elements

The main details that are generally found in any of the monthly household budget templates include the following:

#1 – Income:

This area will consist of the income that the person expects to earn from all sources in the month. Along with expected figures, the actual figures are also entered. A person can identify the variance between budgeted and actual figures with these figures.

#2 – Expenses:

The person’s expenses are further categorized into significant expenses to analyze the budget. The general categories include daily household expenses, utility expenses, transportation, miscellaneous costs, and the amount allocated against the savings.

#3 – Balance:

It will show the balance remaining with the person after deducting all the expenses, obligations, and savings from the income.

How to use this template?

  • The monthly home budget template provided above can be used with an easy click and download by the person. Once downloaded, the person can enter their details like name, the number of family members included in the budget, the month, the year to which the budget belongs, etc.After filling up the required information, the person can fill in all the details of the expenses they expect to incur in the month, along with the budgeted amount against those expenses. In addition, the information in the given template includes the person’s income from all the sources during the month and the expenses for that period.The general household expenses, as given in the template, include expenses on daily household things, transportation costs, utility expenses, debt obligations, etc. Apart from expenses, a person keeps some money as savings from income.These expenses and savings are deducted from the total income to get the balance left at the month-end. This balance will be calculated automatically once the person using the pre-applied formulas passes all the income, expenses, and savings entries.The variance among each item in the template will also calculate automatically along with the balance figure. Also, the total of the income, expenses and balances will be shown automatically at the top of the template to give a brief picture of the household’s budget.

This article has been a guide to the Monthly Household Budget Template. Here we provide you with a free downloadable monthly home budget spreadsheet that outlines details about the monthly household income and expenses. Also, you can download and use this template in Excel, Google Sheets, or PDF format.

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